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Recently, more and more people want to know what NFT (non-fungible token) is. This topic is indeed increasingly popular to be discussed, including in the gaming world. Since its inception, NFT has proven to be able to change many industries including the arts and games.
Among gamers, non-fungible tokens and blockchain-based games are considered attractive because they can provide additional benefits to gamers themselves. Previously, although it continued to grow and develop, the gaming industry was considered to only benefit developers with one-way financial flows.
Gamers continue to spend money but do not get what they deserve. After spending money to buy a console, PC, or mobile device, gamers still have to spend money to be able to access exclusive content and features.
Meanwhile, blockchain-based games with a decentralized concept are more focused on providing more benefits to gamers. However, before discussing this further, we can first discuss what an NFT (non-fungible token) is.
What Are Non-Fungible Tokens (NFT)?
In simple terms, non-fungible tokens can be interpreted as unique digital codes that represent various kinds of assets, both tangible and intangible. These tokens can represent tangible and digital assets such as artwork, collectibles, and other assets.
Non-fungible tokens usually contain different information on each token. This unique code makes NFT unreplicated. Basically, NFT has three basic characteristics:
Characteristics of Non-Fungible Token
NFT is a cryptographic token that represents something unique and non-fungible. The metadata contained in each NFT is created as a unique and permanent record in the blockchain.
The role of this token is similar to that of a certificate of authenticity in that it facilitates tracking of ownership history and transaction records.
In comparison, most cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are fungible. For example, one Bitcoin is identical to another Bitcoin so that it has no unique value or just becomes a commodity.
Uniqueness and rarity are crucial components that make NFT so popular. For example, in the game CryptoKitties, players collect digital cats that were originally designed for NFT. Each digital cat in the game has its own uniqueness, so it qualifies as a rare collectible item.
Thus, the price of this digital cat asset can continue to increase among collectors who appreciate its uniqueness.
Cryptocurrencies like Bitcoin can be divided into smaller parts. This makes the crypto asset visible and can be used as a transaction tool. Meanwhile, non-fungible tokens are invisible or undivided so that NFT can only be sold or purchased in one whole unit.
Advantages of NFT Based Games
Now that we understand what non-fungible tokens are, we can start exploring the benefits of non-fungible tokens in the gaming world by playing Duck NFT. NFT can be applied to games with decentralized games.
Some of the advantages of decentralized gaming include:
Purchases of in-game items in traditional games are one-time and non-transferable. Purchased items also stay forever in that one game world.
Using non-fungible tokens in the game world provides immediate benefits to gamers. One of them is the ownership rights of in-game items. Through blockchain technology, gamers can store purchased items, sell them to other gamers, and even use them in other supported games.
Proof of Scarcity
In the NFT world, collectors value authenticity and rarity. Purchasing NFT in games can guarantee the rarity and authenticity of these items recorded on the blockchain network. This network can validate the number, uniqueness, and ownership history of each NFT.
Traditional online games usually use one centralized server. As such, in-game assets are exclusive to that game only. While decentralized games on an independent blockchain work with a backend framework to connect one game to another that supports it.
Thus, NFT game assets can be used across a variety of different games. For example, two games built on the Ethereum network can use the same assets such as vehicles, armor, equipment, or even entire characters.
When traditional online games are shut down or stop operating, gamers will usually lose all in-game assets they have purchased. While NFT game assets stand independently and are not tied to any particular game.
Thus, in-game assets that have been purchased can still be stored and traded even if the game no longer exists. These assets can also still be used in other supported games.
In addition, NFT game assets cannot be duplicated or tampered with due to records recorded in the blockchain at the time the NFT is issued.