Will NFT Games Make You Rich?
If you’ve ever played online games like MapleStory or Guild Wars, you’re probably familiar with the concept of NFT (non-fungible tokens). Simply put, these are virtual items which are unique, but can be copied and moved around on a blockchain platform like Ethereum. It was recently announced that blockchain gaming company Animoca Brands Ltd had entered into an agreement to buy the maker of CryptoKitties, Dapper Labs Inc., for more than $12 million in cash and stock options. What does this mean? The future of NFT games looks bright!
The rise of Non-Fungible Tokens
Just like Beanie Babies and Pokemon cards, virtual tokens are a collectible form of digital media that is in high demand right now. And while there may not be a market quite as large as collectibles such as action figures or trading cards, many believe they’re on their way to becoming a household name. If you think about it, it’s actually surprising that there hasn’t been more of an effort by companies to capitalize on digital collectibles sooner. After all, people have been collecting assets for thousands of years; we can only guess how big the industry will become once virtual items start taking off for good. But what makes these types of assets so appealing?
Why Non-Fungible Tokens are game changers
There are more than two thousand different crypto games, but there’s no widespread adoption of non-fungible tokens (NFTs) outside of gaming and collectibles. Given that NFTs have not yet been adopted for enterprise applications, it may be easy to believe that they won’t achieve widespread adoption. But is it really that simple? What are some of the possible explanations for why nobody seems to care about Non-Fungible Tokens outside of gaming and collectibles? And can those learnings be used to help explain how CryptoKitties was able to achieve so much success in a seemingly impossible space with non-fungible tokens and digital art?
How to earn from NFTs
If you’re into crypto and blockchain, then you’ve probably heard of non-fungible tokens (NFTs) and their collectible counterparts ERC-721. These new kinds of assets have been gaining a lot of attention recently, but they’re still misunderstood by many people. Although there are some digital assets that do function like non-fungible tokens or digital collectibles, it’s important to understand that many other projects use them for different purposes. To help you get familiar with what these terms mean and how they relate to blockchain games, here’s a quick rundown: What is an ERC-721 token?
What types of NFT games exist today
The video game industry is experiencing a growth spurt of epic proportions, with no signs of slowing down. In fact, some analysts predict that gaming will surpass $180 billion in revenue by 2021. This is good news for everyone involved in creating and selling games, but it’s especially great news for those who want to make money from blockchain-based gaming platforms. One such platform—Enjin Coin—has already proven its mettle as an early adopter of what’s known as non-fungible tokens (NFTs), which allow gamers to create truly unique assets using blockchain technology.
The future of Non-Fungible Tokens
In a world of digital scarcity, non-fungible tokens have been increasingly held as a way to prove ownership. But what are they and will they help you become rich? Non-fungible tokens (NFTs) are blockchain assets with a unique identity. Unlike fungible cryptocurrencies, where one token is interchangeable with another, each token has its own attributes and metadata. Examples of non-fungible tokens include CryptoKitties, which allow users to buy and trade unique cartoon cats that exist on Ethereum’s network.