This is my ax... There are many like it but this one is game art...

Here is a low poly prop and texture I recently created in front of my class to discuss texture workflow and storytelling within your texture.

Modeled in Modo
Textured in Photoshop  

Texture Painted at 1024x1024
Marmoset Render 512x512 diffuse only


To create a good looking, realistic game asset, you first want to collect your images for the base materials.

Ask yourself these questions:
What is this asset made of?
How is this asset constructed?
Where has this asset been?

Once you've made those decisions, you can begin finding the right source images to create your base metal, plastic, wood, screws, bolts etc...  Now using PS, place/rotate all your source images to your assets UV shells.  Once everything is in place and seam free, you can begin adding additional shading that the images did not supply but you want to create based on your concept.

After you have a nice looking asset that looks new from the hardware store, it's then time to give your asset some personality.  This is where the "Where has this asset been?" question comes in.  Has this item been used as a weapon?  Has it never been used but been sitting in the back of an old truck or tool box for the past 5+ years?  These are the things that will help you decide if you need dirt, dust or blood...and how much!

With every asset you make, you'll want to get better at asking yourself or your art lead these questions and then use the answers to help push your texture to a more interesting place.