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Crypto collectibles are ascendant. Whether you’re talking about a digital token ecosystem or its native digital collectible, the future of blockchain-based gaming is looking bright. That’s why we’re constantly updating our list of the latest news, analysis, and resources related to the world of nonfungible tokens (NFTs). Here’s what you need to know.
New NFT Platforms
The market for nonfungible tokens is expanding, as evidenced by the surge of new platforms that have emerged recently. Recently, both CryptoKitties and Etheremon announced that they’re launching new games on the Ethereumblockchain. Blockchain Cuties will be another nft news game to watch out for, as the platform just launched a successful round of funding via an ongoing Initial Coin Offering (ICO).
Crypto Collectibles Exchanging On Open Markets
Nonfungible tokens (NFTs) are different than other tokens because they can’t be duplicated. NFTs are unique and one-of-a-kind. Imagine a gold bar or a rare painting. These items have value because they’re one of a kind and we can trade them on the open market.
Each nonfungible token is given a unique identifier, which provides the ability to collect, trade, and prove ownership of the token. The owner of the token can transfer digital ownership without affecting the physical property of the original item.
This is exactly what is happening with CryptoKitties. People will buy these digital cats for an agreed upon price, and then sell them to other people on an open market. The more popular these crypto collectibles become, the more valuable they become as well.
Decentralized Exchange Platforms
A few NFTs, it’s likely that you’ll want to trade them with other collectors who have different pieces. This is where decentralized exchanges come in. These exchanges allow for trading between collectors of different digital items without involving a third party. The decentralized aspect makes these exchanges more secure, and the tokenization aspect makes it easier to track ownership of your collectibles.
Non-Fungible Token Games
The next generation of gaming is here. Games that are entirely self-contained on a blockchain and self-determining as to their own rules and economy. Games that can never be centralized, censored or shut down.
Final Words: Where To From Here
Collectibles are a hit in the world of gaming. But what does this mean for our digital future? With the rise of crypto collectibles, we’re witnessing a revolution in gaming that is bound to create new opportunities for players and developers alike.
And since these collectible items are based on nonfungible tokens (NFTs), we’re bound to see some interesting innovations as more creators get to grips with them. The future of blockchain-based gaming is looking bright.
With NFTs, game developers have an opportunity to create new gameplay experiences that were previously impossible. In turn, collectors will be able to share digital assets on a peer-to-peer marketplace with ease. Meanwhile, the latest news about NFTs will provide valuable insight into this emerging world in order to better inform your decisions going forward.
