Blockchain games and non-fungible tokens (NFTs) are taking the collectibles, and investment world by storm. Introduced with the launch of CryptoKitties, cutesy digital cats, NFTs allow for the creation of unique digital assets that users can own and trade. Unlike traditional fungible cryptocurrencies such as BTC that are interchangeable with other BTC, each NFT is different, maintaining a distinct price.
From celebrities like Gary Vaynerchuk to Logan Paul, everyone is starting to get on the NFT bandwagon, with over $100 million in crypto collectible NFT sales taking place in the last month alone. With all the hype around the future of NFTs and their possibilities, here are the five NFT-based projects gearing up to take over the art and entertainment sectors.
Terra Virtua is taking the concept of digitals collectibles through NFTs and gamifying it to make the process more fun for users. Terra Virtua is a fully immersive digital world, combining mobile, AR, and VR experiences to bring its collectible universe to life. The platform has partnered with some of the biggest names and brands in the entertainment industry, allowing for licensed digital merchandise to be created, distributed, and traded across the platform.
In Terra Virtua, you can do almost anything. Imagine owning an extremely rare digital race car that you could race against others for prizes. If you're no longer interested in the game or an enthusiastic player makes you a high offer on the collectible, you can sell it, controlling all the value of the gaming process in this digital world.
The company has gained significant traction since launching, with major blockchain, non-blockchain partnerships executed, and steady growth in their community. Lastly, speaking of entertainment, Terra Virtua has already created officially licensed NFTs for global franchises like The Godfather and Top Gun.
With over 13,000 players and 20 million in-game transactions, Alien Worlds is the second biggest blockchain game by users and an all-encompassing digital gaming and collectibles universe. In Alien Worlds, users are incentivized to build on top of various mechanisms as a way to compete and earn rewards.
For example, Digital landowners are competing for miners on their land, and Planets are competing for staked Trilium (the company’s in-game cryptocurrency). As a result, landowners and the Planetary 'factions' have sprung up, offering extra gameplay and incentives.
Alien Worlds presents several ways for players to monetize, mainly through NFTs and mining Trilium. NFTs represent digital land across the metaverse, with independently run planets having the option to produce their own NFTs and decide how it wants to operate. The Planets are competing with each other for staked Trilium, and then benefit from additional Trilium and in-game NFTs - users can choose how they want to deploy these in-game assets.
Because all assets are on-chain tokens, interoperability is possible, so Alien Worlds players will be able to utilize their gaming items in other universes and vice versa, creating an inclusive gaming ecosystem filled with many competing and cooperating games.
By combining art, NFTs, celebrities, and philanthropy, Ethernity hopes to usher in a socially-focused investing platform for NFT artwork. Digital artwork tokenized as an NFT is one of the most compelling use cases for this emerging technology. Ethernity is creating a platform where famous digital artists can collaborate with celebrities and launch limited pieces for auction.
A portion of the auction's proceeds will go to a charity of the celebrity's choice, and another part of the funds raised will go back into the pockets of the network's token holders. Ethernity is taking the primary selling points of digital art – high production value, celebrity status, and promotion of good causes – and using them for collectors everywhere to support their favorite artists and receive unique digital items.
To date, Ethernity Chain has joined forces with the Winklevoss twins, Cameron and Tyler, Swedish DJ and record producer Alesso, sports tycoon Michael Rubin, soccer players Christian Vieri and Paolo Maldini, and others to promote collectible works by digital artists including Mad Dog Jones, Bosslogic, Klarens, and many others.
As a founding member of the DeFi Gaming Coalition, AnRKey X is creating an ecosystem combining DeFi, NFTs, and gaming wrapped up in an arcade-style platform. Using the AnRKey X platform, anyone can purchase, play, and stake their NFTs while competing in games against other players. AnRKey X uses its native token, ANRX, to facilitate all the gaming world's transactions, allowing users to purchase, stake, sell, and compete in the universe.
AnRKey X is preparing for the launch of its flagship game, Battle Wave 2323, which will allow anyone to compete and monetize their skills and NFTs.
The sports card industry has taken off recently, propelling many modern and vintage cards past the $1 million mark. NBA Top Shot is reimagining the concept of sports cards using blockchain and NFTs, creating digital moments for the top basketball players that are limited in quantity. As a fully licensed product of the NBA, Top Shot collectibles have picked up steam dramatically, with many selling for thousands of dollars and some even crossing the six-figure price range.
NFTs allow organizations to rethink collectibles for the modern age, turning something traditionally physical into full live-action collectible moments. The market is still very young and highly speculative, but there are signs that it could become crypto’s first killer use case that delivers mainstream adoption.