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The Fate of NFTs in Video Games is Up to Us
We are on the cusp of interesting new developments in gaming technology. Don’t waste your opportunity to have a say!
Current news has been abuzz with news on cryptocurrency, blockchain, and most importantly NFTs. An NFT, or non-fungible token, is a digital asset that uses blockchain technology to identify its authenticity (and in effect, its rarity or scarcity). Even without understanding token standards, the concept is clear to anyone — collectibles are worth something because they are scarce.
How do NFTs fit into the gaming ecosystem? Many people consider the past few years the “wild west” for blockchain technology, gaining legitimacy only recently with big-ticket sales of NFTs on sites like Rarible and other auctions. The key to NFTs and gaming relates to ownership and a paradigm shift of how gamers interact with games.
From inception, games have been created by a studio or developer, published, and sold to us for entertainment. Today, your 100+ hours dumped into your favorite game returns nothing to you — and your digital assets and achievements are nothing greater than a…
