Crypto games:— Tony Sheng (@tonysheng) March 11, 2018
Today, we're asking "what's new about games given NFTs?"
Soon, we'll also ask "what's new about games given decentralization?"
The most exciting aspect of crypto as an investment is probably the money use case–the possibility that cryptocurrencies become a prominent form of money in the global financial system.
But the most exciting aspect of crypto for me is the trustless computation use case–the possibility that many of the world’s systems can be run without the control of a centralized authority.
One emergent application of the trustless computation use case is non-fungible tokens (NFTs)–a trustless way to record ownership of digital assets. The most well known use of NFTs is in the game CryptoKitties, which raised $12M dollars this week. Another popular use is Decentraland’s digital land (LAND). A parcel of LAND sold for $170K this week.
😱😱😱 https://t.co/aIHUPYg64m— Decentraland (@decentraland) March 23, 2018
Today’s (non-crypto) games and apps have lots of popular digital assets (e.g. cosmetics in games, a verified badge on a social network), but the ability to issue, purchase, and transact digital assets in a completely trustless manner makes these blockchain enabled digital assets orders of magnitude more valuable than their non-crypto counterparts.
I published some thoughts on how NFTs can impact games on the Decentraland blog and I’m looking forward to contributing to the development of the space.
If you’re working on a crypto game or an application of NFTs, I’d love to hear from you.