Only Scratching The Surface Of NFTs
It wasn't till the start of this year that NFTs really took foot and started to explode in popularity. They actually have been around for years but with little transactions and transactions of small values.
However that changed once new NFT artworks started to fetch some high value numbers. This sparked a frenzy in the art, music and entertainment industries to launch their own NFTs which quickly drove up fees on NFTs to crazy high amounts that started to stagnate the industry.
From there things started to change as new blockchains opened up such as Polygon offering up lower fees on a second layer chain. Since then we have seen a steady and growing increase in NFTs sales and from there we also opened up the door into mega NFT gaming which is still booming and will continue to boom for years to come.
At the moment NFT games are pretty bear bones. Get a NFT card mine, fight and level it up by combining other NFT cards or playing the game. We have also since an increase in tokens that are generated from the game often times as resources and these resources can be bought and sold on markets. This is Play to earn and it's HUGE and only getting started.
There are a number of new games currently in beta which should be out early next year that are MMOs where resource harvesting in a real game offer up awesome gameplay like you would see in games like Eve online, New world etc. all crypto based which I believe is the next step forward. (Sorry Diablo your marketplace was ahead of your times)
The Current Change
For the most part NFTs are moving away from just artwork and now providing utility. This utility comes in the shape of gameplay, defi and tokenomics/tickets to allow access to something. This utility aspect of NFTs now gives them a purpose and that purpose could be huge. We are seeing in game NFT cards going for $10,000+ and some as low as $0.01.
Expanding On This
Soon it will become commonplace to buy event tickets, beta access, exclusive access etc all in NFT form and the beauty of it is it can't be manipulated. This utility aspect of NFTs where it now represents something is where real value starts to build. Collectables, redemption of the NFT for a physical item, limited edition NFTs, ticket sales which you can hold on to and display after being used and so much more. This digital world of collection but blending it with real world value as well is huge and the next milestone for NFTs.
Posted Using LeoFinance Beta
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Check my post on liquid NFTs. It's gettin weird and I'm all about it!
Posted Using LeoFinance Beta