Lead image courtesy of freepik.com
It sounds too good to be true – NFTs that can 'breed' with each other, and produce more NFTs.
While it might seem too easy, with new breedable NFTs, owners can create new NFTs. Anyone who has been paying attention to Axie Infinityknows that the in-game characters, called Axies, can be bred.
So let's start with the biggest advantage that breedable NFTs offer – the ability to create your own NFTs once you invest in an NFT that can be bred. To be sure, this “breedability” makes it much harder to value an NFT, as the potential offspring for the NFT are almost impossible to value.
In addition to the potential value of offspring, breedability also opens up the door to leasing out a breeding NFT to people who may not be able to afford the purchase of their own. In other words, breedable NFTs open the door to passive income from an NFT that has desirable breeding characteristics.
As a digital asset class, NFTs have some interesting capabilities that no other digital asset can match. To start, they are inherently a cross-platform asset, so they could be used in many different ways on numerous platforms.
For example, take an in-game character that is stored on an NFT. For the moment, the character can be used in a blockchain-based game, but the potential exists for other platforms to allow the use of the NFT as a character, or for the NFT to be displayed as a collectible or work of art.
With the massive Metaverse development push, it is very likely we will see platforms that allow the use of NFTs from multiple platforms in the near future. Platforms like
With the advent of NFT-based gaming has come the breedable NFT. For anyone that likes online gaming, and creating new characters, breedable NFTs represent a tremendous opportunity. Every platform has its own rules for breeding, so it is hard to make blanket statements about how breedable NFTs work as a whole.
Like other breedable NFTs, Roaring Leaders require payment in tokens to be bred. For this platform, the $ROAR token is used to pay for breeding.
With other Breedable ecosystems like
Another platform that seems to understand the importance of social connections is
People need to connect, and there is nothing like an open community to keep an industry honest. In the world of NFT-based gaming, open communication will be a vital part of keeping devs going in the right direction.
Let's be honest – the online games that exist today simply don't stack up to what is in development. Yet, these online gaming platforms have been incredibly seductive, and in some cases, have driven gamers to become addicted to the gameplay.
If we look at wearable VR tech, like the gear being developed at
The NFTs in this project’s signature experience, VAIL VR, can also grow and change over time. Their NFTs represent in-game pets that can be interacted with and can pick up traits to become more useful. Evolutionary NFTs give the holder an opportunity to raise their asset’s value simply by using it as intended.
When 2020 ended, no one could have predicted how popular NFTs would be in the coming year. Now, novel technology like breedable NFTs are taking center stage, and demonstrating how powerful NFT protocols can be.
Could evolutionary NFTs reach beyond the world of collectibles and gaming?
Sure – why not.
We just saw a huge amount of money pour into an asset class that was niche until 2021. As more people adopt NFT technology, sub-groups like breedable NFTs may find support as an asset that grows in both usage and popularity. And with NFTs that can grow, users have a much better chance of adding that value to their own collection.
Vested Interest Disclaimer: The author holds tokens in some of the above-mentioned companies. The opinions in this article belong to the author alone and should not be considered investment advice.