Crypto Academy Week 9 - Homework Post for [@Levycore]...Non-Fungible Tokens

Big thanks to professor @levycore for the lecture on Non-Fungible Tokens. To be frank, it is my first time of being enlightened on such an initiative on the blockchain world and I am glad to finally be informed of its existence. Here is my take on the subject matter

My Understanding On Non-Fungible Tokens

From the lecture, I understand non-fungible tokens carry unique information coded into them and are owned by a single entity. The value of each non-fungible token is unique an independent of other non-fungible tokens.
For example, unlike cryptocurrencies where 1 TRX carry the same value as another TRX token, the value of non-fungible tokens differ according to the value of the asset coded into it. Thus non-fungible tokens cannot be traded or exchanged at equivalency.

Non-fungible tokens are used to represent the digitalized value of real-world assets such as music, arts, land, house, cars and anything of value in the real world. Because of this unique feature, non-fungible tokens cannot be replicated as they represent other peoples ideas and properties.

Per the homework requirement, I wish to talk about My Crypto Heroes

My Crypto Heroes

^source

About My Crypto Heroes

My Crypto Heroes is an RPG battle game that is built on the Ethereum blockchain. It was officially launched on November 30, 2018 by double jump.tokyo Co., Ltd which instantly gained recognition as the No.1 blockchain game of its time. The project's token is Gum which can be traded on exchange platforms like OpenSea using a Metamask wallet which is the most used wallet for Ethereum Dapps.

The blockchain game is based on a virtual world called Micri(Crypto World). Users can play in the game and achieve hero status and gain extensions in which they can freely hold, exchange, and buy and sell it for ETH in the open market. Users aim to conquer the virtual world by collecting and training heroes on the blockchain and acquiring numerous items which can be obtained by defeating enemies and going on quests.

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GAMEPLAY

Users have the option to play in PvE(battling against enemies which are in-game characters), PvP( players fight against each other and GvG (5 players from each land battle against themselves) Modes.

PvE Mode

PvP Mode

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My Crypto Heroes Ecosystem

Users can play as farmers , traders, creators and heroes.

Farmers are tasked with obtaining resources for upgrading heroes by going on quests and selling their items to traders on the market for GUM.
Traders purchase extensions for Heroes to take into battle.
Creators craft apparels for heroes

Heroes are characters with unique battling skills that take part in combats. They are several levels of heroes ranging from novice to legendary with each stage signifying a particular value of ERC-721 token. Heroes gain items(weapons) know as extensions through quests and tournaments which are also worth a certain value of ERC-721 token. This means that you can sell your heroes and extensions on 3rd party platforms like OpenSea.

Users can buy and sell heroes and extensions including lands either in open markets within the game using GUM or on 3rd party platforms like OpenSea using ETH. The rarity of heroes and extensions determines the amount of ETH/GUM one can earn in the open market.

My Crypto Heroes is available for IOS and android phones and can be accessed through web browsers with Metamask extension. This makes it accessible to all individuals

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Conclusion

NFT projects are making headways in the blockchain world. Individuals now have the opportunity to convert their assets into non-fungible tokens and trade to other parties with ease in the absence of boundary restriction and currencies constraint. Marketing with non-fungible tokens are easy to simple, therefore many business entities involved in arts and real estates have adopted the use of NTFs for commercial use.

All screenshots and reference from here

To the attention of @levycore