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What NFTs and gaming have in common
If there is one thing that seems to be gaining a lot of attention in the media at the moment, it is NFTs. An NFT is a non-fungible token with a unique serial number and cannot be subdivided.
How does an NFT have value? Two NFTs will still be unique even if they tokenize the same thing. Unlike Bitcoin and other cryptocurrencies, you cannot replace one NFT for another and it simply be the same, or have the same value.
We are seeing NFTs make a big impact on many different industries, and one, in particular, is the world of gaming. Continue reading to discover everything you need to know.
Making in-game items into NFTs
Some cryptocurrency enthusiasts believe that the future of in-game economies involves turning in-game items, such as character skins or guns, into NFTs. They feel that NFTs will generate true ownership, creating the ability to resell in-game items that a person no longer wants.
We have also seen some people claim that NFT items, including characters, could be transferred from one game to another.
Of course, nothing is guaranteed, though. Just because an NFT is yours for as long as you decide to keep it, does not mean it is going to retain its in-game value. There is always a risk. However, it is certainly exciting to see where the future lies in this regard.
Becoming a unique character
Both NFTs and games play on the fact that we love the opportunity to tap into another world and become someone else. More and more games give people the ability to create and amend their in-game characters.
This is something that NFT games embrace. However, they go one step further than this, as you can own your character as well. This means that no one else is going to be able to have the same character as you.
The head of research at Bequant, a prime brokerage and digital asset exchange platform, Martha Reyes, has spoken about this:
“NFT purchases allow the player to purchase their own character which is either unique to them or readily available to the wider ecosystem.
“This gives players the ability to play as whoever they want, rather than being dictated by the developers, giving them more freedom in the gaming worlds.”
Training to add value
Gamers go on a journey whenever they play a game. Their character does not start out perfect. Progression and development are needed. The same can be said for NFT games as well, ensuring that everyone can still get involved. Otherwise, powerful characters would only be for those with lots of money to spend.
This is something that Reyes has also explained in full:
“In games such as Blockchain Cuties, players can train and upgrade their existing characters, making them more powerful in the game and valuable on the marketplace.
“This means that the training process can actually add value to the player’s NFT, making them more money when they sell it on.
“This also means that the richest players can’t just buy their way to success and less experienced players can earn their way up the gaming ladder.”
The exciting world of NFTs and gaming
So there you have it: an insight into how the worlds of NFTs and gaming are colliding effectively. This is an area that is only going to get more and more fascinating, with great opportunities for gamers to develop NFT characters, which they own and can make better as well.
Latest News
7-Eleven selects Jackpot.com as their official lottery partner
Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.
Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts
Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.
As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.
“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”
By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.
Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.
To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.
eSports
The World Esports Summit 2024 Is Here!
The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.
This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the
Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.
The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:
- (R)Evolution in Esports
- East Meets West
- Esports Integrity: The Role of Referees
- The Rise of International Esports Competitions
- (In Korean) Korea’s Secret Sauce etc.
Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.
These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.
Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.
Registration for the World Esports Summit is free and open to all interested attendees.
To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration
See you in Busan!
eSports
Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference
Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience. As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.
Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.
Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .
“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.”
Looking ahead to ICE Barcelona, Akhil Sarin stated: “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”
He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”
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