Games have been played well before electricity existed. However, with the advancements in technology that electricity ushered in, games were changed forever. This new technology, blockchain, builds on the evolution of gaming, but you may be thinking, why should we be putting games on the blockchain? In this article, we want to explain how NFT gaming revolutionizes the game industry like never before.

Utility — the state of being useful, profitable, or beneficial.

When you own something that is used a lot, you receive more value over time. If that is a house you rent out, a piece of art your friends see at your parties, or even a concert ticket you only use once - all of these bring value to the owner. We talked about how NFTs will change the future and in that post we focused on this idea of ownership.

Today, most of the NFT market is dominated by collectibles, profile pictures, community access, art, and rug pulls. It is easy to see the straightforward utility that these types of NFTs bring us because they are so similar to the offline world. Let’s look at three examples of utility to help us better understand how NFT utility will evolve. 

Oh the different NFT blockchains. This is where you will begin heading down the deep, deep, rabbit hole of NFTs. Congratulations, you made it! You might have heard a lot about the different NFTs that are out there, gas fee horror stories, and almost certainly have seen strangers “shilling” (or trying to sell) their project to you as the next breakthrough NFT project to make you a multimillionaire on a certain blockchain. However, you may still find yourself wondering, “Which chain should I buy an NFT on? What does that even mean?” 

Data: it’s a dream for nerds, traders, and experienced users, but for the rest of us it can feel like a confusing mess of information. In the world of NFTs, you will hear a lot of new terminology. Some of it might feel similar to stock trading, due to the high number of “flippers,” or people who buy NFTs to sell them for a higher price. However, it is important to understand what these terms mean in relation to NFTs, and how they might differ from traditional trading. Let’s look at some of the data points and lingo you should be aware of when looking at an NFT project.

In this episode we look at the question, when should you buy an NFT? From our previous post we know that an NFT's value is largely dictated by the perceptions of the online community. Since you are considering buying an NFT for the first time, the online community would be a good place to start. What you definitely do not want to do is Google “NFT” and then buy the first one that comes up on the search. Let's talk about what makes for a good NFT purchase.

Today, NFTs are emerging from a simple idea, to create unique digital assets and unite communities, art lovers, and innovators from around the world. Anyone who has spent time exploring NFTs knows it is absolute chaos. Millions of dollars for jpegs, cartoon avatars everywhere, scams, rug pulls, and a revolution of gamers moving to play-to-earn NFT games. Just like websites gave us the ability to access all of humanity’s information to advance the future, NFTs create a way for all of humanity to own unique digital items; it’s the ability to own the future. 

To start, let us think back to a simpler time,  a time when you could only purchase art from a local artist, and when art collecting was reserved for a select group of connoisseurs usually employed by museums and rich people. What gave the art collected value? What made a sketch from Da Vinci worth more than your local painter’s entire collection? The answers to these questions are fundamental in understanding what an NFT is (non-fungible token) and why it is revolutionizing the world.