Digital Assets - NFTs

What Is a Non-Fungible Token (NFT)?

Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions. (source = www.investopedia.com)

Why Are Non-Fungible Tokens Important?

NFTs are an evolution over the relatively simple concept of normal cryptocurrencies. Modern finance systems consist of sophisticated trading and loan systems for different asset types, ranging from real estate to lending contracts to artwork. By enabling digital representations of physical assets, NFTs are a step forward in the reinvention of this infrastructure opening up a world of new possibilities.
To be sure, the idea of digital representations of physical assets is not novel nor is the use of unique identification. However, when these concepts are combined with the benefits of a tamper-resistant blockchain of smart contracts, then they become a potent force for change.

How is NFT Gamification Changing The Gaming Industry?

NFT games have become popular in the Game-fi world as a way to earn income. You can sell your in-game NFTs to other collectors and players and even earn tokens with play-to-earn models. An NFT game will use NFTs in its rules, mechanisms, and player interactions. For example, a game could represent your unique character or avatar as an NFT. Digital items you find while playing the game could also be NFTs. You can then swap or trade your NFTs with other players for profit.
NFTs have revolutionized many industries, notably the gaming space, where players enjoy crypto gamification and financial rewards. NFTs successfully offer an array of benefits traditional gaming doesn’t, such as the play-to-earn model, interoperability of game assets and more.
NFT gamification can work in many ways. Let’s explore the most notable and common ways NFT games have disrupted traditional gaming.

1. A source of income via Play-to-Earn games

2. The rise of Play-to-Earn Guilds

3. Interoperability of game assets

4. NFT Staking

MetaXSeed Ecosystem NFTs

Every game will have it's own set of NFTs. In addition, the MetaXSeed Game Studio will also eventually add a collection of NFTs that will give access to many additional benefits.
  1. 1.
    Forbes. "What Is An NFT? Non-Fungible Tokens Explained." Accessed Feb. 18, 2022.
Copy link
On this page
What Is a Non-Fungible Token (NFT)?
Why Are Non-Fungible Tokens Important?
How is NFT Gamification Changing The Gaming Industry?
MetaXSeed Ecosystem NFTs