Girin Jackson

While most media coverage has ranged from heavenly to ridiculous, NFTs are much more than just the digital representation of the artwork. NFTs have the power to shape the future of every product. By 2020 alone, the NFT market has grown by 299% till February 2021. What’s driving this growth and what’s the revolution of NFT? Let’s learn below –

What is an NFT?

NFT (Non-fungible Tokens) are the unique digital asset that can be created using the Ethereum Blockchain network. These wholly unique tokens can be created for any digital assets like images, songs, video, or anything that is in digital format.

What is Physical NFTs?

With the growing ecosystem of non-fungible tokens, NFTs have expanded beyond purely digital art and towards physical NFT. Physical NFTs are the NFTs that represent real-world work. These NFTs can be resold just like any other NFT or they can be redeemed for delivery of physical artwork.

NFTs: More than just the artwork

Many people think that NFTs are only linked to artwork work. However, this is partially true, there was a time when NFTs were just linked to digital artworks, but it has changed now. There are several companies and brands that enter into the game with their own NFT products like fashion, wearable, collectibles, even real estate.

Right now, there are over $78 trillion of non-bankable assets in the world from spanning fine wine, real estate, rare clocks, to other collectibles. What if you can redeem all of them into a physical world? A few years back if someone says that people will laugh and say you are a daydreamer. But now it is possible.

Physical Redemption of NFTs:

Till recent times, NFTs were been largely confined to digital works where buyers can resell them for profit or collect them in a digital form. However, as time passes on the NFTs are evolving, now NFTs can be redeemed physically.

For instance, Brainchild NFT, Brainchild NFT is revolutionized from pure artwork to the new age of luxury. Brainchild has created the NFT based on real-life collectibles that bridge the gap between the physical world and the metaverse.

What is Brainchild NFT?

Brainchild is aiming to expand the uses of NFT beyond the cryptoverse by bringing the gamification of NFT into the physical world. Brainchild is launching the physically redeemable NFTs called Brainchild NFT. Brainchild NFTs are the collection of 5,000 luxurious clocks titled as “Ethclocks”. Ethclocks are the gamified version of the clocks that can be enhanced as an NFT or you can redeem the physical manifestation of them. These NFTs are rare clocks designed and conceptualized by prominent design studios. The holder can decide whether they only want the digital copy of ethclocks or physical version too. In this project, token holders can redeem the physical manifestation of their NFT perpetually. This means, if they have ordered the physical product, their NFT won’t be destroyed like other NFTs, you still have the digital asset with you.

Physical Redemption of Brainchild NFT?

Brainchild is aiming to have a fair launch mechanism “raffle” in late January 2022 in order to avoid gas war and promote inclusiveness and limited up to 3 mints per wallet to prevent whale hoarding. The mechanism consists of four stages, signature collection, raffle, minting and metadata reveal.

In the first stage, wallet signatures will be collected within a 24-hour window. After collecting the signatures, 4207 wallets will be whitelisted for minting Ethclocks using the Chainlink VRF mechanism. Once the wallet is whitelisted the winner will be announced on their website. The winners can then mint up to 3 Ethclock directly into your wallet within 48 hours. And unminted ethclocks will then again raffled away by repeating the above steps. Once all Ethclocks will be minted, full collection metadata will be revealed using Chainlink VRF.

To prevent abuse the ethclocks will have a lock-up of 3-months, after that period the token holders will be able to physically receive their ethclocks periodically.

Wrapping Up:

With the cusp of revolution, technologies are changing the way we live, work, and entertain. With the innovation of NFTs, gaming industries are more and more revolutionizing.

With NFT innovation, the gaming space has seen the biggest growth. Every day, a plethora of crypto investors and gamers are immersing in NFT gaming. This is because NFT has various unique benefits like its blockchain attributes and vast utility let players use their in-game character, special powers, commodities, and other tradable objects. Furthermore, it brings in-game income to the players.

NFT gamification applies blockchain technology to the traditional game features like point scores, competitions, game inventory, rules of play, etc. giving birth to GameFi a platform where players can trade and swap game assets for financial rewards.

Understanding NFT gamification isn’t that difficult. With NFT gamification, the in-game assets are programmed as NFTs which are valuable for players as they can be sold for real money.

For instance, the game “Axie Infinity”, is the NFT game that took play-to-earn to the next level NFT cryptocurrency collectibles. In the game, each creature called Axie is minted as NFT and they battle with their NFTs in exchange for crypto rewards. Like these, there are many other games as well like Lumi coin, My Neighbor Alice, etc.

What is Next to NFT?

There are countless possibilities on how crypto and NFTs can up the gaming space. However, I’ve listed some of the most remarkable differences NFT gamification has made.

Income Source –

Earning an income via playing games is a dream of many people. NFT gamification has made this dream true. Traditionally computer gamers were designed with the play-to-win structure where players need to purchase items and upgrades to win the game with no economic return. However, NFT gamification comes up with a new play-to-earn model serving players a new source of income. This new blockchain-based play-to-earn gaming structure provides a fair playing field for all participants where players can obtain financial rewards for achievements in-game.

Gaming Guilds –

Play–to–earn gaming guilds can help players to get started. They enable players to rent in-game assets instead of buying them.

Imagine a company that specializes in play-to-earn games. They invest in particular games and enable millions of players to use these gaming assets to play and make money. In return, the player has to share their profit with the guild enabling them to invest more. Some of the most popular guilds nowadays are Merit Circle, AAG ventures, Yield Game Guild, and Blackpool who has created economic freedom for a plethora of players through play to earn.

Interoperability of game assets –

NFT gamification also provides the feature of interoperability. This means blockchain-based games enable players to use individual game assets in multiple games if allowed.

Translate NFT into Physical world –

The last but the most interesting development in my list is translating NFT into the physical world. The NFT market has expanded beyond digital art and gaming into tokenized luxury products.

In near future, this NFT redemption to the physical world perhaps is applied to gaming, where players can redeem their gamified NFT asset for the physical good at any time.

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