When Nintendo was first launched back in 1996 in the United States, it sold around 1.6 million units which were $200 each in the 1st quarter. Tickle Me Elmo doll was its closest competitor during the holiday season and it sold around a million units at $30 each in the first week.
Now, more than 20 years later, Nintendo’s switch sold 1.5 million units at $300 each during the first week, and the competition was tough and it wasn’t just for the holiday season.
The gaming business has changed so much ever since it came into existence. From the basic monetization of the game through the physical sales and digital copies of such games to built-in game monetization through microtransactions. This universal acquisition of the internet has generated a prominent shift in the gaming world.
As we all knew, NFTs (Non-Fungible Tokens) were destined to make their way into the gaming ecosystems. From the early executions like Axie Infinity and cryptoKitties, digitally owned tokens are bound to be coupled with the games.
Most of the major brands in the gaming industry are welcoming NFTs (Non-Fungible Tokens) and it is surely not a surprise. Gaming has become more accessible than ever. It has evolved from a niche customer base to a more established global pop-culture trend.
For many years, gaming collectibles have been selling for ridiculous prices, so why should their new digital siblings be any different? From Square Enix to Ubisoft, everyone is quite intrigued and trying to find the best approach. Some of them simply started to sell digital items for NFTs with an option for the user to resell them to others.