Welcome to Around the Square! These articles highlight industry trends, projects on MSQ, and general news as it relates to the blockchain industry. Today, we are taking a look at the variety of NFT projects joining us on MSQ. Let’s dive in!
What Are NFTs?
For the uninitiated, NFTs stand for Non-fungible tokens. Fungible meaning that every item is replaceable and interchangable with a similar item—think dollar bills for example. Non-fungible is the inverse of that definition meaning that every non-fungible item is unique and one of a kind.
You can get a quck breakdown of NFTs and how they work by checking out this short video:
If you have been paying attention to the recent popularity of NFTs, you can understand that this field is still developing and has a lot of room for innovation and growth. NFTs will continue to evolve and be used across a variety of sectors, which is why we are excited to showcase some of the best projects working on NFTs on MSQ. Let’s explore some of the areas where NFTs are making strides.
NFTs & Games
On MSQ we have a wide variety of projects that are taking advantage of NFTs and introducing them as a core mechanic in their gameplay. See below for a list of games and developers coming to MSQ:
Splinterlands - a digital, collectible card game built on blockchain technology. It is similar in concept to games like Magic the Gathering and Hearthstone where you build up a collection of cards, which have various stats and abilities to use them to battle other players in skill-based matches.
Gala Games - A powerhouse development studio working on Town Star and their upcoming MMORPG, Mirandus!
Axie Infinity - a digital pet universe where players battle, raise and trade fantasy creatures called Axies
Rising Star - a card-based RPG where you work your way up from street musician to global megastar.
CryptoBrewMaster - set out to collect ingredients, upgrade your brewery, and craft your own beer!
Rabona - a massive multiplayer online soccer management simulator.
NFTs & Art
At the height of the NFT art craze this past summer, Beeple sold an artwork for 69 million dollars. While one can make the argument that NFTs are becoming over saturated we believe that there is a lot of space for the industry to grow and mature.
On the art front, MSQ is happy to have NFT Showroom joining us. NFT Showroom runs on Hive Engine which is a smart contracts side-chain platform for the Hive blockchain. Their on-site currency is SWAP.HIVE which is a token that is pegged 1:1 with Hive. The minting fee to tokenize 1 edition is 5 Hive plus 1 Hive for each extra edition. They charge a 10% market fee for each sale, for secondary sales artists receive a 5% royalty. NFT Showroom aims to provide a platform that is easy to use and less expensive to transact for both the creator and collector and solve existing problems in the crypto art sphere.
NFTs & Authenticated Goods
Last but not least we are always looking to highlight projects which incorporate NFTs in unique ways. This brings us to our partner–D¢ENT!
D¢ENT aims to be the preeminent lifestyle brand for the crypto-empowered. Their brand is focused on creating NFT Authenticated Apparel and fine goods. Their merchandise and brand were created as a response to the lack of quality crypto-lifestyle goods while pioneering new and innovative “phygital” (phyiscal+digital) experiences. Each item in their online shop gives users the option to add NFT tokenization to their products. Every item from their UnLtd. Collection, for example, is able to be paired with an UnLtd. NFT, proving it’s authenticity on the Ethereum Blockchain.
Working on NFTs?
Are you currently working on a project involving NFTs? Reach out to us and tell us about it! We would love to have you on MSQ!