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NFT – Next Gen Collectibles

What is NFT?

NFT stands for non-fungible token and describes unique asset which exists online and can take any form of virtuality for any kind of content. Each NFT has a certificate of authenticity and can’t get duplicated. They were growing in popularity and settled on decentralized digital platforms that have roots in blockchain technology.

Specifically, a non-fungible token gets used to certify ownership and authenticity of some digital content – let’s say photography or a video.

This asset has created a new Universum for many sellers, buyers and collectors since it made a more personalized connection. There are NFT marketplaces or exchanges where anyone can buy them. The most famous is OpenSea, founded in 2018, but many others too – Ethernity, Superfarm, etc.

NFT in Mobile Gaming

Everything happens so fast in the Gaming industry, so NFT is prevalent in this niche, too. For example, the first-ever game which introduced these assets was CryptoKitties, launched in 2017.

It enabled players to breed, sell and buy digital cats and one of the cats was Dragon, sold for 600 Ether, which was 172,000 dollars at the time or 1.4 million dollars today!

Most games played today are very centralized. Specifically, this means that if/when a player stops playing some fun, they lose everything they earned there (data, assets, currency).

With the NFT’s (non fungible tokens), this wouldn’t happen because it is decentralized – meaning gamers can genuinely own their assets, trade with them anyplace they want and use them in different games.

Unique Collectibles

Probably the most associated term with NFT. Being a unique and one-of-a-kind asset,  NFTs make every possible sense in regards to collectibles.

Fans who practice online betting sports and are avid sports card collectors will now get another dimension for their hobby, both with offline and online worlds.

Many of them love the feel of the cards under their fingers, so It will be interesting to see how these digital collectibles will fair in the sports world, as in other areas.

There are already unique art forms that went for millions of dollars, so we’re pretty safe to say that the trajectory is on the spot in every field of collectibles.

Pay-to-Win

But the main question is – what are the concrete steps to make and use NFT to feel the benefits of pay-to-win? If you are an older player and still remember the so-called ‘freemium’ model of games when a player would wait for a special offer and pay 99 dollars for hundreds of thousands of gems in Candy Crush – then you’ll know what are we talking about here. With NFT’s you can invest money to go straight to more complex levels and earn respect and money from other players.

Upland.Me is a game – the great presenter of the NFT rules. It is a virtual world where players see the properties mapped precisely as in the real world, and they can buy, sell or trade with them. There are also kingdoms without a monarch until some user steps in and claims the crown.

If you build an excellent citadel resistant to attacks of other monarchs, you could make a good trade and earn more than invested – all the crypto can quickly transfer to the PayPal account. It’s a way for all the game nerds out there to influence and develop games without the developers!

What’s Next?

NFT is a superior technology still developing, still so much to offer and pushing the boundaries. Imagine a particular, one-of-a-kind gun from Call of Duty which is only yours and nobody in the world has the same!

Or you can own a unique raw material in Minecraft which helps you build extra firm roads. Yes, let’s wait and see a new NFT surprise around the corner!

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Fredia

Fredia is a passionate blogger and loves to cover various topics related to Canada. She helps individuals, small businesses, and organizations get to advertise their products and services in front of an engaged audience through various marketing and social media channels. When not working she loves to travel with her kids Sara & Ben.

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