So let's start with the basics: what is an NFT?
An NFT is a non-fungible token, and in more detail it is a way to make a virtual object UNIQUE and recognizable, via Blockchain technology.
Explanation with a concrete case: If you make a painting, and that you make an NFT (in which will be registered your painting as well as the certificate of authenticity), this NFT will be unique. We will write in the Blockchain, the name of the owner of this work as well as its characteristics.
If one day, the buyer of this NFT decides to resell the work, then this will be recorded in the Blockchain that he no longer owns it, for the benefit of the new buyer!
This is how NFTs make a digital object unique. You can copy and paste the image of the work thousands of times and send it to whomever you want, they will only be copies, the only one that will be of value will be the one related to the NFT.
You can have a copy of La Mona Lisa at home, but you don't own the real one.
NFT and video games. A real change?
In many current games, the change would not be significant.
But if we take a few concrete examples it will be easier to explain under what circumstances NFT is a real "game changer" for the video game industry.
We will take for our first example: Fortnite.
This game, very popular with children and teenagers, has found a real place in the world of online video games and only in a few years.
In Fortnite, each player has a locker with inside the locker skins (outfits for the player's in-game avatar).
Each of these skins could be listed on a Blockchain and that would mean that Epic Games (the creators of Fortnite) could with just one click find out who is the current owner of each skin, which would be sort of a unique skin.
We could then imagine a whole economy around the game, such as a system for reselling skins, or even a system for renting the rarest skins, since with the Blockchain, we could store the history of the owners of each of these skins.
Where things get interesting is that if the different attributes of your character became NFTs you would own them even outside the lines of the game code, that is to say that if Fortnite, to use the example , went bankrupt. You, the player and owner of a legendary skin, will remain the owner of the NFT and therefore even in the event that the game disappears. your piece, it would still be there and could, why not, become a collector's piece, a game, from another time.
A bit like the war artifacts that are collected today.
Similarly, a platform like Steam or the Epic game store could sell each of its games in a limited quantity and again know the owners of each game sold.
The current system allows, of course, to know each person who bought a game, but the quantity of games to be sold is virtually unlimited: a second-hand digital game being strictly identical to a new digital game.
With an NFT system, we could limit the number of games available and above all have the history, know the identity (the wallet address) of all the owners of a given game thanks to the Blockchain. This could finally make it possible to resell second-hand digital games, but if you read between the lines, it would above all open up Pandora's box and unleash speculation on rare games.
Much like in the physical world, it would suffice for a video game studio to limit the release of a game to 1,000 copies for the price of it to skyrocket as demand increases.
As any video game market would be hit hard by the law of supply and demand, much like what is happening with PS5 game consoles today.
In my previous article I spoke about the Metaverse, and clearly the NFTs have their roles to play in these new worlds.
At kryll.io, our interest in NFTs is now reflected in our collaboration with artist Léo Caillard, a world-renowned sculptor.
Find our collection directly via this link
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