NFT Skins: What they are and how they work

In a world more digitized than ever, online collectibles have become the center of attention. These collectibles can have different forms, from online weapons and powers to even skins. Additionally, the increasing popularity of Non-fungible tokens (NFTs) has changed the way people can interact with these online collectibles. Nowadays, gamers can turn them into money as they have real-world value. This is why NFT skins have become an attractive option to collect and trade in play-to-earn games also known as NFT games. Do you want to know more about NFT skins? We’ll tell you everything in this article!

What is an NFT skin?

Gaming skins are digital designs that gamers can use to customize their videogame characters, weapons, accessories, digital properties, etc. It is about personalizing and making your gaming experience unique and fashionable. In other words, it is about having something that identifies you among other players. 

Traditionally, the skins were only valuable within the in-game parameters. Nowadays, with the arrival of blockchain technology, the skins can also be Non-fungible tokens (NFTs). This means the NFT skins can be sold and traded in exchange for cryptocurrency, allowing gamers to generate money from them.

Exclusive and non-transferable skin

NFT skins have a unique identification code and metadata that allows them to be exclusive and distinguish them from each other. It is such uniqueness that makes NFTs like gaming skins not able to be replicated nor be swapped identically for other NFT skin ever. In other words, they do not have an exact substitutable equivalent of currency or token. 

However, NFT skins are still able to be created, traded, and implemented in play-to-earn games. Each skin will need to follow the rules of their correspondent smart contract. This type of contract has codes that execute themselves in the blockchain following their standards. 

Why do people buy NFT skins?

If you are wondering why people buy NFT skins, it is simple. They are motivated by two main reasons: their uniqueness and the ability to trade them in the NFT marketplace. 

Being unique in the game

As mentioned before, a lot of gamers want to be as fashionable and unique as they are in real life. It must be emphasized that in the modern world, digital platforms and online interactions are becoming our reality. 

There is an increasing number of users spending more time on digital platforms than in real life, while the play-to-earn market size grows at the same pace. This is why it is not a surprise why using digital items like skins is a key to setting a differentiation between gamers. And, video game creators are aware of this as more and more video games are allowing the use of skins in their digital worlds. 

Buy and sell

Even though the NFT skins cannot be touched physically and can only be seen through a screen, gamers are still willing to pay for them. At the end of the day, these digital skins will represent them in a way, so having the best representation motivates them to buy or sell these skins. 

As mentioned before, having skins as NFTs allow them to be traded in the NFT marketplace or be sold to specific buyers. This allows NFT skins to not only serve as virtual representations of their owners, but they will generate money. Gamers can exchange them for crypto or trade them for others.

Raiders: Our nft skins

In Games for a Living we have created our own play-to-earn games. For instance, we have our game ‘Elemental Raiders’, a free-to-play turn-based game where gamers will have to fight with other players in arena battles using heroes. It is built in blockchain technology meaning that our gamers have the option to collect and trade NFTs in the form of weapons, skins, powers, skills, and characters. These NFTs can be sold on the marketplace for a profit. 

Additionally, our gamers have the option to participate in exciting weekly events where they can battle with powerful bosses and become the Elemental Raider. Progress is awarded with exclusive NFTs and tokens. 

¿Do you want to earn money while playing Elemental Raiders? It will be released in November 2022. Subscribe and do not miss out on all the information.