You might have head this term and been wondering what is an NFT. The term NFT stands for non-fungible token. The idea is basically each NFT is, in itself, a unique digital item. So if I make 100 NFTS of a sword in game then each sword would be one unique token. This means your sword would be #40 of 100 of swords that are on the market. With only 100 of this item on the market you now have scarcity and if people are buying these items then you could see value for them. NFTs have a lot of uses from art to collectables but one of the most exciting areas it is coming to is that of gaming.
What Items Could Be NFTs In Game
Any item in a game could be an NFT. It could be an item that your character uses such as a piece of equipment that makes your character stronger or it can be something that is purely aesthetic like a skin or a piece of clothing that does not effect your stats. There are a lot of items that can be in a game and no matter what genre the game is there is room to have NFTs in it.
This means you can know have rare items in game that you can hold in a wallet like you would a digital currency and trade them on the market. Think of having a rare shield in a game that gives your character high def and there are only 100 shields out there. If the game is popular enough that shield could go for a lot of money.
Play-To-Earn
With NFTs you can have a play-to-earn game. This is a game where the player can make money by playing it. If there is loot in the game that are NFTs then you can sell your drops on the market. Or maybe you can win a skin if you one of the top people ranked for the season. This means you can then wear that skin to show off your skills or sell it on the market.
There are a lot of options when comes to in-game NFTs and I hope that one day it becomes the norm for gaming. If it does it can be a part-time job to game on the weekend and sell your items for cash.
Thanks for this interesting post.
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