The Future of NFTs in Esports
Since the early 2000s, NFTs have managed to attract the interest of everyone, far or near, in the blockchain space in some way. Undoubtedly, the artist Mike Winkelmann’s (or Beeple (Bored)’s as we know it) painting “Everyday: The First 5000 Days” has a significant share in this interest, selling for $69.3 million on March 2021.
Those interested in the original painting titled Everyday: The First 5000 Days can check out the artist’s Twitter page. I didn’t share it in this article.
These exorbitant prices have caused the misconception that NFTs are only digital art creations. NFTs produced on blockchain networks quickly attracted crypto investors, and NFTs were sold at incredible prices to those who dreamed of earning a lot soon. But as with all popular behaviour, this bubble experienced an absolute sales collapse from the bear market’s first moments. Many NFTs that could not be bought for a thousand dollars fell to $1. And in the crypto market, NFTs have almost been lynched.
Whereas NFTs are the most significant discovery after blockchain technology could transfer cryptocurrency via P2P without a brokerage firm.
Nowadays, when the boundaries of virtual and reality have started to be discussed, the possibilities provided by NFTs use cases are unlimited.
Let’s answer what exactly it is without looking at the use cases of NFTs.
NFTs, i.e. Non-Fungible-Tokens, are unique and can be minted to specified numbers, and their primary utility is their ability to determine ownership. In other words, each NFT is unique and cannot be changed.
-NFTs can be used to create all kinds of personalized tickets or unique badges.
-It is possible to prevent cheating by NFT’alizing votes in elections.
-Land determines ownership like a house deed.
-The ownership of a precious painting or item can be NFT’alized.
-Intellectual property rights can be NFT’alized. Artists’ copyrights may be regulated.
- Many use cases can be written on this list.
However, the most crucial “Utility” nft’alized to the gaming sector. NFTs have almost nft’alized Artists’pecially for character-developed games such as mmorpg or in the field of esports.
The uniqueness of the defence weapon you want to completely own or buy the tools you have developed to create characters and fight in the field in role-playing games takes the game to another level. The fact that the NFTs of esports stars or tools used in matches are bought and sold as NFTs and their properties cannot be changed will instantly change your claim in the game.
In the article I recommend today, WAX authors have discussed using NFT in Esports. Especially if you are a fan of ESPORTS or passionate about NFTs, please do not go through without reading.
I want to finish my article with a question. Today there are 2.5 billion players in the global gaming Market, and players have spent more than $ 150 billion. It is estimated that the value will be 300 billion by 2026, and today the esports audience is about 500 million people.
Undoubtedly, as someone who believes in blockchain technology, your ultimate goal is mass adoption. If you set out for this purpose if you were to start a new project, which area of blockchain would you like to develop a project in?
Or Let me ask the question like this, WAX.io, why did decide to establish “The Kingdom of NFTs?”
Here is the article link, Have a good read
Join The Kingdom of NFTs
