Level Up Through Gamification: Next-Gen NFTs

For the uninitiated, NFTs are a type of cryptocurrency that exist as digital assets. When you own an asset in this form, it is effectively stored within the blockchain and yours to collect or trade with anyone else who has them. There’s been a lot of hype recently around CryptoKitties and IOTA because they have become so popular on social media websites such as Twitter and Telegram

NFTs are digital assets that can be used in games. They can be traded, bought, and sold on the blockchain. The “gamified nfts” is a new type of NFT that allows players to earn tokens through their gameplay.

NFTs are becoming more popular, yet this technology is still in its infancy. Existing NFTs will, in my opinion, develop into something new in the future that will transform several facets of our everyday lives.

For a clearer understanding of how NFTs will have such a significant influence on our lives, maybe a little history of NFTs is necessary.

NFTs, as they are often known, are distinctive digital artifacts connected to works of art. They may be represented in a variety of forms, including paintings, drawings, lyrics, music, performances, and more.

What about the original blockchain-based NFTs, though? No, not the well-known CryptoKitties; instead, one of the earliest blockchain-based NFTs was Spells of Genesis, a trading game based on the Bitcoin network that employed cards.

Spells of Genesis may not be a title that many people may remember, but these NFTs heralded the beginning of a new gaming age. The FDCARD was the first tokenized gaming asset that allowed consumers to really control their digital assets when it was introduced. It was the beginning of a trend that would ultimately allow players to switch from centralized, tightly regulated games to completely decentralized ones that provide ownership rights over in-game assets.

Although a lot has happened since then, if you follow the development of NFTs, you will discover that Spells of Genesis remains the most important NFT.

Another important step in the development of the NFT was taken with the release of Ethereum-based CryptoKitties in 2017. This game showed the general public how a blockchain-based game may become popular. These NFTs would be categorized as first-generation NFTs.

NFTs of the second generation

Unbelievably quick development is taking place in the NFT industry. Newer NFTs have appeared, and they are no longer limited to becoming cards. Cryptocurrency, NFTs, and gamification, three rising phenomena, have been merged to create a metaverse, a virtual environment where users may live and behave just as if the world were real.

NFTs may represent anything in a metaverse, depending on the creators’ creativity, including people, objects, and even land plots. NFTs provide the game in this virtual environment a fresh, authentic value. Users may do everything with them that they might do with a real-world asset, including trading them on secondary markets, exchanging them, improving them, and renting them out.

Axie Infinity is one platform that has already made this concept a reality. Users may breed, trade, engage in combat with creatures known as Axies, and profit from their actions there.

Alien Worlds is another metaverse that allows users to profit from their NFTs. The platform gives users the ability to trade and stake their tokens, and the most talented users have the opportunity to take part in managing the planetary world’s treasury.

But refrain from playing.

Already, several well-known companies are developing their own metaverses. You may be aware that horse racing has been conducted digitally for some time, but what about horse racing conducted in a metaverse? ZED RUN and Stella Artois have established a metaverse where users can breed, trade, and purchase virtual horses and enter them in competitions. The value of one Z1 Genesis racehorse is 21 ETH (approx. USD 38,600 at the time of writing). The money is real, even if the horse is a virtual one.

Level-Up-Through-Gamification-Next-Gen-NFTs

Lindsey McInerney, the company’s Global Head of Tech & Innovation explains: “Stella Artois has always been about creating and facilitating memorable, premium experiences and bringing people together.” 3D racetracks are available in the metaverse for users to enjoy by providing a direct avatar component. This is the first big brand to explore the realm of new digital entertainment experiences.

Fractionability is a crucial component that is already assisting in the widespread use of NFTs. Here, we can see two different models:

  • An NFT is split into fractions, and various investors hold each fraction.
  • An NFT is not split, but a group of investors owns the ownership rights to it. Depending on the money each investor donated, they each possess a certain NFT share.

Although fractional NFTs have more applications in DeFi, their acceptance in other fields like art is growing. Because it makes investing possible for those with average to low incomes, fractionability is the trait that, in my view, will lead to the widespread usage of NFTs.

I would categorize all of these NFT varieties as second-generation NFTs. Although they are now there and offer gamers whole new chances and experiences, they are continually developing.

NFTs of the third generation

What NFTs will be in the next generation? Although it doesn’t seem like anything really unusual will happen, we already have everything we need to advance NFTs:

  • There are platforms where we may securely trade, sell, or purchase tokens, and users retain full control of their tokens.
  • There are many different NFT varieties, however some of them are extremely worthwhile and have a lengthy horizon. It demonstrates that NFTs—at least some of them—are profitable investments. We can rely on them and their economy, therefore we may expect to gain from them in the future.
  • NFTs became fractional, allowing anybody to own a portion of an NFT.
  • Our ownership rights are already ours. The ownership rights of any user who purchases or generates an NFT are documented on the blockchain.
  • Users who wouldn’t typically be interested in technology are given a devoted niche by gamification, and DeFi is striving to make that niche attractive to investors as well as gamers. DeFi and gamification both make significant contributions to the widespread use of NFT technology.

NFTs of the third generation: Nearing Completion

Will anything new be created? Possibly, but to me, the following is a full equation:

Lindsey McInerney, the company’s Global Head of Tech & Innovation explains: “Stella Artois has always been about creating and facilitating memorable, premium experiences and bringing people together.” 3D racetracks are available in the metaverse for users to enjoy by providing a direct avatar component. This is the first big brand to explore the realm of new digital entertainment experiences.

Fractionability is a crucial component that is already assisting in the widespread use of NFTs. Here, we can see two different models:

  • An NFT is split into fractions, and various investors hold each fraction.
  • An NFT is not split, but a group of investors owns the ownership rights to it. Depending on the money each investor donated, they each possess a certain NFT share.

Although fractional NFTs have more applications in DeFi, their acceptance in other fields like art is growing. Because it makes investing possible for those with average to low incomes, fractionability is the trait that, in my view, will lead to the widespread usage of NFTs.

I would categorize all of these NFT varieties as second-generation NFTs. Although they are now there and offer gamers whole new chances and experiences, they are continually developing.

NFTs of the third generation

What NFTs will be in the next generation? Although it doesn’t seem like anything really unusual will happen, we already have everything we need to advance NFTs:

  • There are platforms where we may securely trade, sell, or purchase tokens, and users retain full control of their tokens.
  • There are many different NFT varieties, however some of them are extremely worthwhile and have a lengthy horizon. It demonstrates that NFTs—at least some of them—are profitable investments. We can rely on them and their economy, therefore we may expect to gain from them in the future.
  • NFTs became fractional, allowing anybody to own a portion of an NFT.
  • Our ownership rights are already ours. The ownership rights of any user who purchases or generates an NFT are documented on the blockchain.
  • Users who wouldn’t typically be interested in technology are given a devoted niche by gamification, and DeFi is striving to make that niche attractive to investors as well as gamers. DeFi and gamification both make significant contributions to the widespread use of NFT technology.

NFTs of the third generation: Nearing Completion

Will anything new be created? Possibly, but to me, the following is a full equation:

1657173395_916_Level-Up-Through-Gamification-Next-Gen-NFTs

In other words, we just need to integrate all of these qualities to create the new, third-generation NFTs. The primary obstacle is here, which is why we haven’t arrived yet.

Something additional is required to unify all the features.

NFTs will eventually have their own independence. The ownership rights and the whole token value are passed to the new owner, the person who purchases the token, when a token maker sells the token.

In order for this to happen, a tokenized rights management system will need to be able to handle all (or the majority of) NFTs and communicate with all platforms in use so that users may view, sell, purchase, trade, or otherwise engage with NFTs in the future. Naturally, standardization is required to provide smooth interaction and interoperability across platforms and various NFT kinds.

To allow the introduction of the next-generation NFTs, we already have all the necessary components; we simply need to put them together properly and make them work as a single system.

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The “nft collectibles” is a new type of crypto asset that has been designed to be used as a reward for people who complete tasks and are rewarded with the NFT.

Related Tags

  • future of gaming nft
  • nfts in gaming
  • gamification crypto
  • nft sales
  • nfts art

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