NFT Gaming files for IPO as it readies to compete against major gaming firms

Steam, one of the largest gaming companies, is facing the growing threat of the rising popularity of NFT gaming. One of the blockchain gaming companies looking to disrupt traditional gaming is NFT gaming, whose plan is to create a platform that will support a robust gaming ecosystem.

NFT Gaming files for IPO

NFT Gaming is planning to create a gaming platform that is known is known as Gaxos. This game will bring gamers, developers, and publishers. Besides supporting minting within the game, Gaxos can also be an NFT, allowing the player to have actual ownership of this project.

“We believe that the ability to mint and use NFTs in-game that are distinguishable and tamper-proof offers gamers more power over their asset and the ability to have an augmented and exciting gaming experiences,” the IPO filing said.

The game will be a real game-changer, as it is focused on the players looking to have ownership over a game. Platforms such as Google Play do not allow the player to have any ownership over the game as they cannot purchase the movie but only rent it. Moreover, the platform can also deny the player access.

On the other hand, token ownership gives the player more control as they can trade the asset with anyone they want or choose to sell it. NFT Gaming is looking to give this level of control to players and ensure that they are part of the ecosystem. This makes the game more decentralized than traditional gaming platforms such as Steam.

NFT Gaming is planning to use the Polygon blockchain for this project. Polygon is a layer-two network running on the Ethereum mainnet. Polygon charges lower fees and is also one of the fastest blockchains.

NFT Gaming is entering a rapidly evolving space

The Gaxos game developed by NFT Gaming is still not running, and the company is yet to make any revenue from the project. Additionally, there is no way to predict whether the game will succeed as NFT gaming is still a new space despite the high interest and investments that have been seen in the sector.

Nevertheless, the unique offerings of NFT Gaming could allow the project to disrupt traditional gaming companies such as Steam, whose centralized model does not appeal to all players. While blockchain integration maintains some level of centralization, the platform’s offerings make the player a part of the ecosystem.

The IPO filing also shows that NFT gaming platforms are willing to go mainstream, which is another sign that a major disruption is coming to the gaming sector.