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Best Play To Earn NFT Games In 2026

Posted on by Shipra
Best Play to Earn NFT Games

When did you first attempt to play a game? Did you triumph? Did your group triumph? Don’t all the fun we’ve played throughout the years bring back many memories? Many gamers believe that gaming goes beyond the screen and the device. Gamers have celebrated both victories and defeats. More specifically, there is a mysterious camaraderie among gamers. By researching and regularly playing a game, players have actively contributed to its promotion. Some people spend a lot of time playing one game. Some people enjoy playing many games at once. Few players will desire a more captivating and engaging experience. Some gamers choose titles with certain themes. Sports-specific themes, fantasy-specific themes, etc. In this blog, let’s look at some of the top 2026 play to earn NFT game.

A Change in the Gaming Industry

Despite the changing styles and modes, one aspect of gaming has not altered over the years. It is the gamers’ support and spirit. The dedicated developers must ensure they offer a healthy atmosphere for gamers, as this industry depends heavily on the community. Thus far, players have used a conventional paradigm, so the standard gaming models may seem more familiar. However, it is always preferable for players to have an open mind, be adaptable, and try out various gaming genres.

NFTs’ Debut into the Gaming Industry

We employ non-fungible tokens, often play to earn NFT, to signify ownership of particular assets. An NFT games play to earn can be created using digital artwork and audio and video samples. What harm did these NFTs cause to gaming, then?

A new type of gaming known as “play-to-earn games” has emerged due to the introduction of NFTs into the gaming industry (P2E). The in-game items, winnings, and even the game’s setting can all be turned into NFTs gaming in a play to earn NFT by tokenizing them. In a conventional gaming setting, all the items the player purchased during the game will be rendered useless as soon as it ends.

However, this flaw is entirely closed up with the introduction of NFT play to earn.

The play-to-earn games’ assets are tokenized, so each player owns their own. In addition, he or she benefits from receiving royalties each time the asset is sold again. To level up in the game, gamers can even rent out the asset to other players. Gamers can get passive revenue in this manner by playing video games.

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Examining Some of the Top P2E Games to Buy in 2026 will be Helpful.

1. Axie Infinity

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Axie Infinity has gained significant acclaim as an Ethereum-based game where individuals engage in pet battles using creatures known as Axies. Players participate in collecting and training these unique NFT pets, enabling them to enter competitive arenas and strive for higher standings. The gameplay of Axie Infinity necessitates astute strategic thinking, as diverse environments demand various approaches to achieve success.

2. Silks

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Silks, an exciting new NFT game gaining significant attention within the crypto community, represents the first-ever derivative play-to-earn metaverse, closely emulating real-world thoroughbred horse racing. The game’s core objective revolves around making thoroughbred racehorse ownership accessible to the general public.

3. Gods Unchained

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Gods Unchained is a collectible card game that allows players to own and trade digital cards representing powerful creatures, spells, and artifacts. Players can participate in ranked matches, tournaments, and events to earn rewards and increase the value of their card collection. Gods Unchained combines the thrill of traditional card games with the benefits of blockchain technology, creating a captivating play-to-earn experience.

4. The Sandbox

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The Sandbox is a multiplayer metaverse game that blends creativity and monetization. Within this virtual realm, players have the opportunity to design and trade their unique NFTs, ranging from virtual worlds and buildings to various forms of art. The platform has garnered considerable attention through partnerships with distinguished figures in the entertainment industry, establishing itself as a promising avenue for players to capitalize on their imaginative works.

5. Tamadoge

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Tamadoge, a game with promising investment opportunities, draws inspiration from the beloved 1990s sensation Tamagotchi. In this game, players take on the role of caregivers for their adorable Doge-themed pets, referred to as Doges. Through the process of nurturing, feeding, and training these virtual companions, participants have the chance to earn valuable rewards in the form of the native token TAMA. The game’s NFT pets have already garnered significant attention and popularity on the OpenSea platform.

6. Splinterlands

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In Splinterlands, a player-versus-player card game utilizing the Hive blockchain, participants partake in fierce battles, pitting their monsters against each other. Victorious outcomes yield Dark Energy Crystals (DEC), the game’s native currency, enabling players to bolster their DEC holdings and seize greater opportunities for earnings within the game.

7. Decentraland

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Decentraland has claimed the top position on the list as a widely favored crypto gaming platform that grants its users the ability to engage in games, possess virtual land, and acquire NFTs. Players can generate income and monetize diverse constructions like houses, parks, and art galleries by engaging in the buying and selling of land plots. Furthermore, Decentraland presents avenues for hosting events and earning profits from fellow participants.

8. Guild of Guardians

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Guild of Guardians is a mobile RPG fantasy game where players have the opportunity to transform their gaming sessions into valuable NFTs. In this captivating collectible game, players are empowered to assemble their formidable team of “Guardians” and engage in thrilling guild-based challenges, all while earning desirable tradeable prizes. The most remarkable aspect of this gaming experience is its accessibility as it is completely free to play.

9. Battle Infinity

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Battle Infinity, an upcoming metaverse game, presents distinctive gaming mechanics and numerous advantages to its players. Within the Battle Infinity ecosystem, individuals have the opportunity to participate in fantasy sports games seamlessly integrated with the metaverse, acquire exclusive avatars, and venture into diverse platforms and NFT games.

10. Illuvium

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Illuvium, an eagerly anticipated crypto game, amalgamates RPG action with the thrill of planetary exploration. Within this gaming realm, players are tasked with capturing and nurturing formidable creatures known as Illuvials, which become their companions for engaging in PvP challenges and accomplishing various missions. The game’s interplanetary encounters promise to deliver exhilarating gameplay experiences, adding an extra dimension of excitement to the overall adventure.

Final Words

Gamers have come a long way in exploring various game models. Play-to-earn NFT games are worth trying, even though straying from the gaming norm can be daunting. The top Play-to-earn NFT games should be played straight away. In conclusion, NFT games play to earn offer a unique and innovative gaming experience where players can have fun and earn real-world value.

With the growing popularity of these games, it’s important to choose a reliable and experienced partner for NFT game development. SoluLab is a leading provider of NFT game development services, offering tailored solutions to meet the specific needs of businesses in the gaming industry. With their expertise and knowledge, SoluLab can help you create a successful marketplace for NFT games play to earn, hire skilled NFT developers, or launch your own white-label NFT platform. Embrace the exciting world of Play-to-earn NFT games with SoluLab and unlock the potential for growth and success in this emerging industry.

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FAQs

1. What are play-to-earn NFT games?

Play-to-earn NFT games are online games where players can earn valuable in-game assets, currencies, or non-fungible tokens (NFTs) that can be traded or sold in the real world. These games provide an opportunity for players to monetize their gaming skills and time investment, creating a new paradigm where gaming becomes a source of income.

2. How do play-to-earn NFT games work?

In play-to-earn NFT games, players engage in various activities such as completing quests, battling opponents, or participating in virtual economies to earn rewards. These rewards are often in the form of NFTs or in-game currencies that can be converted into real-world value. Players can then sell or trade their earned assets on NFT marketplaces or use them within the game ecosystem.

3. What are some popular play-to-earn NFT games in 2026?

Some popular play-to-earn NFT games in 2026 include Axie Infinity, Splinterlands, The Sandbox, Decentraland, and Gods Unchained. These games offer unique gameplay mechanics, vibrant virtual worlds, and the potential to earn valuable NFTs, making them highly sought after by players and collectors alike.

4. How can I get started with play-to-earn NFT games?

To get started with play-to-earn NFT games, you’ll need a compatible device, an internet connection, and a digital wallet to store and manage your earned NFTs. You can download the game client or access the game through a web browser. It’s important to research and choose a game that aligns with your interests, gameplay preferences, and earning potential. Additionally, familiarize yourself with the game mechanics, community guidelines, and marketplace dynamics to maximize your chances of success.

How to Make an NFT Game?

Posted on by Shipra

How to Make an NFT Game

Even if you don’t actively pursue NFTs, you have undoubtedly already heard of them. Regardless of the amount of interest, popular trends frequently permeate all areas of the information space and capture everyone’s attention. However, the fact that you are reading this post indicates that you are undoubtedly interested in learning more about NFT and how to create an NFT game.

Numerous industries employ NFTs. 38 NFT creations were included in a digital art exhibition that the Hermitage hosted in 2021. The NFT token from Jack Dorsey’s initial tweet, which launched Twitter, was sold for $2.9 million. For his NFT artwork, artist Mike Winkelmann got a record-breaking $69 million.

What are NFTs?

Infusible Token is referred to as NFT. NFTs emerged as a result of the creation of the blockchain, just like cryptocurrencies. But unlike, say, Bitcoin, every NFT is distinct and has a separate value. This is not the case with NFT if one traditional cryptocurrency unit is identical to another like one (for instance, one Ethereum is identical to another and totally transferable without losing value). Let’s start with the NFT ecosystem, or the blockchain, to better grasp this.

What Are NFT Games?

NFT games are blockchain-based entertainment items that include non-fungible tokens, which are digital objects. NFT technology can be employed in video games to draw in funding. Any in-game object can have a token created, purchased, or sold by players, helping to support the creator. For instance, skins, artifacts, weapons, and other game elements can be tokenized using NFTs.

In NFT games, players access game resources that have been mathematically certified. It is simple to figure out who owns the gaming equipment. Many NFT games are gaining in popularity as they enable players to play and earn.

1. Axie Infinity 

Axie Infinity is one of the popular NFT games in the Pokémon style. Games feature imaginary creatures called Axies. You can play the game on a computer, an Android device, or an iOS device.

The NFTs used in this game were constructed in line with the ERC-721 standard. The Ethereum standard for NFTs is ERC-721. The ERC-20 token standard was used in the development of the “Axie Infinity Shard” (AXS) which is the governance token of the game.

Gamers can exchange the NFTs they gain in this game on the popular Ethereum NFT exchanges. Players also earn a good amount by playing in this amazing game.  It was created on the Ethereum blockchain.

2. Cryptokitties

CryptoKitties is a blockchain-based game that allows players to breed virtual cats. These virtual cats are used as game assets and these are NFTs.

The Ethereum blockchain platform was used in the creation of this game. It was unveiled in November 2017, and soon it gained popularity. Players are required to buy virtual pets using ether, the native currency of Ethereum

The game instantly attracted more players. At the start of 2018, the game had 1.5 million users. There was $40 million worth of transactions at that time. A number of the virtual cats earned more than $300,000 each at auction.

3. Cryptopunks

CryptoPunks was one of the first NFT games. The creator of this game introduced it in June 2017. They used the Ethereum blockchain platform to develop this.

Over 10,000 different collectible digital “avatars” are offered in the game. They were created as NFTs by the CryptoPunks developers.  The Ethereum project team was inspired by CryptoPunks to build the ERC-721 NFT standard. For these virtual “avatars,” thousands of dollars were traded at a time.

4. Gods Unchained

Gods Unchained is a well-known NFT-based game. It’s an online trading card game. Players can make money by playing this.

The developers of the game were announced in 2018. They developed it using the Ethereum blockchain network. In actuality, “Immutable X” is used to mint the game assets for this game. It is a layer 2-based Ethereum network.

The developers of the GODS token, the game’s native cryptographic token, will make it accessible. The game’s developers have used the ERC-20 standard to create this token.

It enables players to use the GODS token as payment for rare trade cards. They will also have access to internet markets where they may purchase and sell them, such as Coinlist.

5. Sandbox

Sandbox is a well-known blockchain-based game and you can also consider it a virtual universe. The game’s creators developed it using the Ethereum network. NFTs serve as the assets of the game.

The ecosystem of the sandbox enables players to build and produce game items. Users can create their own games using a “Game Maker” interface. Finally, players can exchange video game items in the Sandbox market section.

How to Create an NFT Game: Preparation Stage

What role does NFT play in the gaming world? Developers write smart contracts with the rules for using such tokens in order to create NFTs and use them in the game. Let’s now discuss how to make an NFT game in more detail.

Game Model

NFT games can be categorized into two main categories:

  • P2E (play-to-earn): Players must acquire their first NFT before they may begin playing. There is a chance to recoup the investment in the future. The majority of P2E games allow players to purchase NFTs that represent characters, perks, or power-ups as well as win so-called utility tokens.
  • F2P (free-to-play): There are significantly fewer such games, but they don’t require any initial costs – you can start playing right away. In this case, the possible income will be lower. Such games may not include utility tokens.

Design for Your Game

Select the genre of the future game. The NFT game is not some scary beast that exists in another reality. This is the same game as the others but with its own characteristics. So strategy, combat, adventure, simulation, role-playing, or card games – all options are available. After choosing a genre, it is important to conduct a competitive analysis. Find similar games on the blockchain and beyond. Do not mindlessly copy successful games – take the most interesting features and fuse your idea with them. Of course, game art is an absolutely creative field, and you are free to do whatever you want there. But note one thing for yourself.

Read also: Top 9 Best NFT Games for Android

To avoid the risks and huge investments in an untested concept, start with a simpler graphic option. Later, after getting your hands on it and understanding the specifics of NFT games, you will be able to move on to games with a more advanced level of art.

Web or Mobile

Applications built on blockchain technologies are called dApps – decentralized applications. The main code and data (backend) of a decentralized application are stored and executed on the peer-to-peer blockchain, unlike client-server applications, whose data and code are processed on servers. In fact, all cryptocurrencies are already variants of decentralized applications. But usually, they are considered the basic foundation of the blockchain, on top of which a variety of decentralized applications already work. Decentralized applications are usually open-source.

The next question to ask is how do you want your users to interact with the game. Through a web browser or mobile app?

Both options are valid. The web application is universal and can be launched from any device, from a computer to a smartphone, anywhere in the world. On the other hand, a mobile app will run much faster on smartphones and may have many more features. Therefore, its development is often more expensive.

Suitable Technology

To get your feet on the ground in NFT, take advantage of open source. For example, you can go to GitHub and find both ready-made games and templates for NFT games that you can manipulate to better understand the specifics of such games.

If GitHub is Greek to you, then pave the way for the initial orientation in it. You will definitely need it in the future. This is the most famous project and code version management system. 

One of the most common dApp development ecosystems is Truffle Suite. It is the leading smart contract development environment. Truffle tools are used by well-known companies such as Microsoft, Amazon, and VMWare. Truffle Suite provides blockchain developers with a standardized testing environment and asset pipeline to create high-quality and reliable smart contracts.

Read also: What are NFT Games and How Do They Work?

Another dApps development platform is Moralis, which has an infinitely scalable server infrastructure and is able to remove the biggest obstacles in dApp development. The platform provides you with a fully managed back-end infrastructure. This means that you, as a developer, can focus on developing the front end and the main user interface.

The Front-End Stage

As frameworks, React and Vue can be good options. Angular, with its huge API, may seem too complicated for beginners. Truffle Suite was originally built to connect to React, but as of 2019 they also offer a Vue plugin.

The front end can be hosted on Netlify. It is one of the most advanced web development platforms that helps programmers publish projects online. It is ideal for small teams or solo developers who are not able to create the infrastructure for their resources on their own, but still want to put their product on the Internet. Besides, it’s free.

The Wallet

Unlike ordinary money, cryptocurrency is not stored in a real or virtual wallet, it is located directly in the blockchain ecosystem. A crypto wallet is a special software or hardware that allows you to store digital currency, as well as perform various operations with it.

Any crypto wallet should have a high level of security. To select a suitable wallet, you first need to go to the website of the cryptocurrency you are going to store and familiarize yourself with the list of recommended applications. Every secure wallet must meet the following requirements:

  • have private and public keys;
  • have several levels of security.

Smart Contract

We have already mentioned that smart contracts are programs stored on the blockchain that run when predetermined conditions are met. If users want to access their NFT, it goes like this:

1. The front end receives the user’s address from the crypto wallet.

2. The front end sends the user’s address to the smart contract.

3. The smart contract gives the user the NFT address owned by the given user.

To work with a smart contract, you can use the official Ethereum blockchain library called Web3.js. Web3 allows you to abstract from the internal mechanics of Ethereum and work with the network and smart contracts as if they were ordinary JavaScript objects.

The Solidity programming language is used to write smart contracts. Solidity is a Turing-complete language, which means you can create complex contracts in a well-defined code format.

The Back-End Stage

So, we have already determined that the smart contract deals with the URL of the desired NFT. With this address, the front end makes a request to the backend to get the metadata for this NFT. The backend sends metadata to the front end. They include the name of the NFT, its address, and its identifier. After receiving this data, the front end can send another request to the server with the NFT URL. The interface can then display the available data and the user can see their NFT’s name and image.

For the backend, you can use node.js. It is a software platform that translates JavaScript into machine code that runs on the server side. So JavaScript can be used to build the backend.

The Testing Stage

To test your NFT game, you can use special test blockchains like Rinkeby. Ganache by Truffle makes it easy to create a mock blockchain. The types of blockchain game testing can be as follows:

  • Functional testing. This is a test of the overall functioning of the game, data transfer, block, and chain sizes to evaluate requirements, processes, etc.
  • Security testing. This is mandatory to check for any threats to the blockchain system.
  • UI testing. It’s important to make sure the game’s workflow and functionality are working properly and to test fonts, colors, graphics, and more for a great user experience.
  • Integration testing. This is a test of interconnection between different software components.
  • API testing. The bottom line is to check the communication of software components with an external API to make sure that the request and response are correctly processed by the system.

Conclusion

Now you have a general idea of how to make an NFT game. In this case, it is important not to get carried away with the number of NFT assets, but to think about what value they represent for the players. Will players want to buy them and what will be their motivation?

If you want to keep up with the trends, but have no idea what NFT features can be offered to jaded players.

Top 9 Best NFT Games for Android

Posted on by Shipra
Best NFT Games for Android

Think about the opportunity to make money while engaging in risky actions in that specific region. Today let’s look at the top 9 NFT games on Android. A play-to-earn strategy game is also quite popular in the NFT gaming industry. By playing for cash, gamers can generate passive revenue in this situation. The low initial outlay and subsequent reliable return are the main reasons why NFT games are so well-liked. Many NFT games for android allow players to share rewards with other players. These are inspired by several different game subgenres, such as action, strategy, hyper-casual, etc. 

These NFT games take gaming to an entirely new level.

1. Axie Infinity

One of the key factors contributing to NFT’s rising popularity is this game. Another game made using Ethereum’s Blockchain technology is Axie Infinity. Additionally, this game is renowned for its endearing, trivial, and fluffy qualities termed as access, and all these adorable animals will each be unique and differ in a variety of aspects, like strength, clothing, etc. Axie infinite makes its debut in 2018. Here are several cryptocurrency-related earning strategies. The aim of the game is to craft as many axes as you can, and you can now exchange them with other players on the market. I think that’s encouraging.

2. Splinterlands

One of the best NFT games for Android is titled Splinterlands. Splinterlands is a firm that provides NFT gaming systems based on card games. This NFT-based card game is essential for anyone who is sick of card games that demand a substantial outlay of cash to play. The card count in this game is initially limited, but as players win more games and accumulate more cards quickly, the card count rises. The way in which you can obtain tokens is also one of the game’s most exciting features; you can earn the DEC token by competing in the weekly seasonal final.

3. Forest Knight

A strategy game that takes you to a wonderful fantasy world is another option. A complete in-game economy based on token standards is present in this turn-based strategy game. The game also has a sizable environment with a variety of locations, critters, and fun items to explore. Moving up the levels, crashing ministers, and gaining as much experience as you possibly can is your objectives. However, once you reach the sixth level, you’ll be able to engage in PvPs with actual users. Each assignment will come with a reward in the form of NFT and useful items. There are currently more than 100 things in the game, with more on the way. In addition, you get to put together a group of knights using various skills and battle techniques. Additionally, you’ll get the chance to design your city and control its economy. You must make sure your people have access to enough food, supplies, and other requirements. In addition, you’ll need plenty of armor and weapons to protect your city against monsters and dragons.

Read more: 9 Strategies You Can Use to Promote NFT Games

4. Delta Time

One of the most popular NFT games on Android is Delta Time. Are you a fervent Formula One fan? Here is a Christian gaming site created especially for Formula One enthusiasts. Crypto Kitties is one of the top NFT games for Android. They allow users to gather and pre-order gorgeous virtual kittens that live on the Ethereum Blockchain. This game is well-known for its adorable kittens, and it is one of the first Ethereum Blockchain games available.  Additionally, players in crypto-cats can sell their virtual kittens on the market or the central N. F. T marketplace. In 2017, dapper Labs created the Game of Crypto Kitties on Ethereum.  However, you may get Crypto Kitties in one of two ways: buy them on the market or breed them together. It’s worth noting that breeding allows gamers to unlock rare traits. We have the luxury of time as athletes. The Grand Prix mode in this game, which is comparable to a standard Blockchain-based game, allows players to race, which is one of its exciting features. An ERC 20 shock is available in this game, and it may be used for the REVV in-game currency. The fascinating moniker of the special money.

5. League of Kingdoms

Simple controls and ownership of a portion of the game’s map comprise the mechanics. Because of this, you have full power over what occurs next. You can develop the economy, sabotage alliances, create a war, or do anything that comes to mind. Choosing a strategy you’ll stick to is what’s most crucial here. As you might expect, the game’s resources are finite, so you’ll need to ensure that you quickly replace all of your stockpiles. Additionally, time, distance, or any real-world variables will affect your strategies. You might also invite your friends to join you in the game and become allies.

6. Merge Cats: Earn Crypto Reward

One of the most popular NFT games on Android is Crypto Kitties. On the Ethereum Blockchain, they enable users to gather & pre-order adorable virtual kittens. This game was one of the very first Ethereum Blockchain games released and is highly recognized for its cute kitties. Furthermore, participants in crypto-cats have the option of selling their digital kittens on the market or even the main N. F. T. marketplace. The Game of Crypto Kitties was developed by dapper Labs in 2017 for Ethereum. However, there are two ways to obtain Crypto Kitties: either buy them off the market or breed them together. It’s important to note that breeding enables players to access uncommon features.

7. Skyweaver TCG

It’s a more difficult card game where however many cards you can get depends on your competence. It’s a brand-new card game with vivid, intricate graphics and a wide variety of available cards. You can level up to your matched levels by playing any of the base 500+ cards for free here. You will play the game competitively to move up the leaderboards even though your gaming skills and expertise will dictate every aspect of the gameplay. However, you can win trade-in silver to buy new gold every week.

8. Spells of Genesis

One of the top NFT games on Android is Spells of Genesis. The game will keep you interested with its amazing setting and several epic battles. It is necessary to acknowledge all of his gaming efforts for the scenario, including level design, card creation, and other elements. Your voyage starts in Askian’s home country. You must join a squad & eliminate every opponent in order to get the magical skills. Typically, you begin with a basic deck of cards and eventually upgrade it. After you get the hang of it, you’ll be able to mix and match the cards to create uncommon and potent combinations. Each card has a special quality that could help you win tournaments, so think carefully before assembling your deck.

9. SorareData

The game of football is great for someone who regularly plays it. You’re in for a treat now: In the Blockchain game Sorare, which was created in Algeria, users may play football plus earn cryptocurrency at the same time. Additionally, you can create your virtual squad using different digital cards from NFTS here. Fun fact: These cards are also legally licensed. Additionally, each of these cards will depict a real-life football player for a certain season. You can acquire complete control of one of these vehicles and sell it to other similarly mad people once you buy just one of them.

Conclusion

It is obvious that the NFT gaming industry has considerable future growth potential. The underlying crypto asset that supports the NFT game will be valuable from an investing standpoint. Demand and supply will determine how much it is worth. As a result, as the idea gains more traction, the value of the game to earn cryptocurrency may rise. For instance, investors in MANA, which supports the Decentraland metaverse, have seen gains of more than 20,000% since the platform’s introduction. Even greater results were achieved by Axie Infinity, with peak gains exceeding 100,000%. This is why value investors are growing more and more interested in new cryptocurrency initiatives in the NFT gaming industry, like Tamadoge and Battle Infinity.

Can phygital NFTs bridge the gap between Web2 and Web3?

Posted on by Shipra

 

                                       Credits: Azuki Golden Skateboard

With NFTs, the concept of phygital presents endless opportunities to the space. By definition, phygital bridges the gap between the physical world and the digital one.

It focuses on giving users a hybrid experience in terms of user interface and experience. Currently, this idea mainly exists for the fashion and luxury goods industry as it is easier for companies to link their digital offerings to that physically. Furthermore, Morgan Stanley predicts that the metaverse could bring the fashion and luxury goods industry an additional 50 billion dollars in sales by 2030.

Having physical goods linked to the digital world extends the utility of either physical or digital ownership. This is a great way for the community to feel that they are able to represent the project on both channels. In addition, it can also help to securitize the underlying physical goods by having ownership registered on the blockchain. A couple of NFT projects are at the forefront of venturing into the phygital realms with their unique proposition.

You can also read : An Ultimate Guide To NFT Gaming Development

NFT projects venturing into phygital

Azuki

Azuki launched a Proof of Skate (POS) initiative with the bidding of their golden skateboards for each of the top 8 bidders. They aim to bridge the gap between web2 and web 3 by introducing Physical Backed Tokens (PBT):

“The PBT standard is a solution which enables decentralized authentication and tracking of the full ownership lineage of physical items, all completely-chain and without a centralized server. This introduces trustless authentication. No entity has singular rights to authenticate or verify ownership of items — everyone is free to authenticate, verify, and build experiences on top of this technology.”

This was a huge success as the highest bid was 309 ETH and the total revenue of $2.5m. Each golden skateboard comes with a unique emblem with significance from Azuki lore, and also holders get to be enshrined in the Ruins world drop as part of Azuki mythology. The token pushes the boundary between physical ownership and trustless authentication. It is now easier for anyone to view the entire ownership of the skateboard since it is able to keep track of who has owned the item in the past, which is useful for the fine art world of establishing its provenance.

RTFKT

CloneX SZN 1 launched a Forging Mechanic for their existing NFT holders to redeem exclusive physical items from their NFTs collectibles such as fashion items (sneakers, hats, jackets, etc). What differentiates how RTFKT launch its phygital experience is the introduction of Near Field Communication:

“All forgeable items with the exception of Socks and Caps are equipped with NFC tags, allowing owners to link their physical to their NFT. This allows for new possibilities and unlocks in the future such as new items to mint or token-gated physical events.”

The launch of the Forging event is a huge success and the project was able to generate a revenue of $11.34m, with the top three fashion items being T-shirts (36%), Shoes (23.6%), and caps (12.9%). RTFKT launched its physical fashion items successfully because of Nike’s manufacturing expertise; this is an example of how existing fashion brands can tap into Web3 audiences through NFTs.

You can also read: Top 5 Fintech sources — Enhance your industry knowledge

Cult & Rain

Cult & Rain was created as a phygital Web3 fashion brand co-founded by fashion creative director George Yang. This project aims to create both physical and digital wearables such as luxury sneakers and varsity jackets paired with NFTs. With connections to the factory that produces for both LVMH and Kering, the corresponding physical product will be produced in Italy after the claiming of the NFTs is done.

Having a direct-to-consumer model avoids overproduction, which is a main issue for the traditional fashion industry. The digital asset sold as an NFT allows holders to experience the utility of its matching physical luxury product ensuring that they are of good quality.

How to have a successful Phygital plan?

With various projects having their phygital experience included for their community, how can projects measure success to ensure that phygital fit into the long-term of the brand instead of it being a once-off marketing tactic? Personally, I feel that there are a couple of key considerations:

  • An innovative bridge between physical and digital — It is not enough to just allow holders to claim merchandise physically just by holding the NFT. People are expecting more, especially with the foundation of blockchain in NFTs, and projects are pushed to think of ways to stand out. A great example is Azuki, where they introduced the PBT concept to the idea of being able to pass on ownership easily without someone having to verify the physical item.
  • Physical to resonate with the brand — Projects also need to bear in mind that the physical item needs to resonate with the brand and its vision. RTFKT does it well because they are acquired by Nike, which is known for its merchandise like shoes, shirts, and caps thus reinforcing to their holders that they are able to deliver on that end.
  • Physical to be part of the long-term roadmap — Using phygital as a marketing tactic works great as it is the buzzword in the NFT space. However, for a project to truly embrace the concept, it needs to be part of the roadmap where holders can get consistent utility from holding the physical despite already having the digital aspect.

It is great that projects are slowly starting to steer away from the typical merchandise launch and embracing the phygital concept. More web2 people will be willing to move towards web3 if they are able to see the value and tangible perks of owning the NFTs. How can projects incorporate phygital into their business model and continue bridging the gap between web2 and web3? A lot of trial and error is probably needed since we are early in this space.

Credit : Medium

 

The Future of NFTs: A Visual Exploration into the REAL use cases

Posted on by Shipra

NFTs are more important than you think…

In this article, I explored the REAL use cases of NFTs that are being built, and what they will be used for in the future.

Understanding The Hype Cycle

Have you heard of the Gartner Hype Cycle?

It suggests that disruptive technologies go through 5 key phases:

1. Technology Trigger: the emergence of a potentially disruptive technology.

2. Peak of Inflated Expectations: Early publicity creates hype. (Ex: 2021 Bubble)

3. Trough of Disillusionment: Early projects fail to deliver on promises and the public loses interest. I suspect NFTs are somewhere around this trough of disillusionment now.

4. Slope of enlightenment: The tech slowly starts to show successful use cases.

5. Plateau of Productivity: Mainstream adoption has arrived and broader market applications have proven themselves. Here’s a more detailed visual of the Gartner Hype Cycle from Wikipedia.

In the speculative NFT bubble of 2021, @beeple sold a collage of his artwork called “Everydays: the First 5000 Days” for $69 MILLION.

Similarly, @nbatopshot sold hundreds of millions of dollars of video-collectible moments.

This was probably the peak of inflated expectations.

Now, let’s dive into the real use cases of NFTs.

But first, if you’re not familiar with NFTs, I’d recommend watching this video I made.

Digital Art

Most people think that’s all NFTs are — a speculative bubble of rich people buying worthless JPEGs and MP4s.

But having a platform to buy, sell, and own digital artwork or collectibles is transformative for creators and fans.

NFT Profile Pictures

You might also have seen NFT profile pictures on Twitter.

For example: my profile picture is an NFT I minted using @skogard’s factoria app, which helps separate my account from fake accounts.

Profile pictures are a great starting point because they are unique representations of your identity, and have clear ownership.

NFTs are a way to represent proof-of-ownership. It’s easier to prove ownership of digital assets than physical assets, which is why artwork and pfps are the first use cases.

But they can be useful for a lot more.

NFTs can be used to represent anything that is unique, has an owner, and requires a digital certificate of ownership. Example: domains & usernames.

Domains & Usernames

@unstoppableweb, @ensdomains & @rarible let you buy NFT domains.

One of the big benefits of NFT domains is that they are transferrable.

Domains on Godaddy and other web2 providers are not easy to transfer or sell. In many cases, you’re just leasing the domain instead of buying them.

Tickets

Similarly, concert tickets and other event passes are also well suited to be represented by NFTs.

There’s a finite number of them, and access to the event requires proof.

NFTs can eliminate the problem of forgery and make it easy to verify authenticity and ownership.

NFT tickets are also tradeable on the secondary market, which unlocks a few things:

  1. Standardized marketplaces with buyer & seller protection (currently, tickets are traded on inefficient markets like FB & craigslist)
  2. Free market pricing
  3. Royalties for the original creator

4. Historical ownership data of tickets means performers can airdrop future passes, discounts, giveaways, etc to fans.

5. NFT passes can also serve as a badge to showcase your fandom.

The online ticketing market is estimated to be worth $30B+… and it’s growing fast.

A few projects I’ve seen working on NFT-based ticketing:

  • @GetProtocol
  • @SeatlabNFT
  • @YellowHeartNFT
  • @GUTStickets
  • @WicketEvents

Gaming Assets

In-game assets benefit from NFTs for many of the same reasons.

Imagine that someone spent 5 years of their life accumulating a rare in-game collectible sword, and then outgrows or quits the game. That collectible clearly has value for gamers.

The gaming industry is expected to make $200 BILLION in revenue this year, a significant portion of which comes from in-game purchases.

Royalties on secondary market trading of these gaming assets provide a strong incentive for gaming companies to create NFT based ecosystem.

But digital assets are just the beginning… Real-world assets can get much of the same value from on-chain NFT representation.

For example: Real Estate is unique, has an owner, and requires proof of ownership.

Real Estate

Tokenizing real estate has multiple benefits:

1. Can be fractionalized to increase access, liquidity

2. Can be collateralized to increase capital efficiency and access to loans backed by an on-chain asset

3. Allows investors to diversify or make bets on specific neighborhoods, towns or cities +++

I’ve written about this concept before as a thought experiment

I’ve even created an animated video explaining this concept.

So far, we’ve only discussed the benefits of NFTs for transferrable assets. But what about non-transferrable NFTs?

This is a concept that people are now calling Soul-Bound Tokens or SBTs. Vitalik Buterin (co-founder of Ethereum) wrote about this concept in his blog.

Like I said, NFTs are essentially digital certificates that anyone can verify.

Degrees & Diplomas

That lends well to use cases like Degrees & Diplomas. Of course, you wouldn’t want these to be tradable, so they can be made non-transferrable SBTs.

Having a standardized, public proof of diplomas, degrees, skills, and achievements on-chain means that anyone can verify their legitimacy.

The same is true for all other kinds of certificates or achievements.

For example: LinkedIn could give you a verified checkmark for your degree or skills.

Counterfeit Protection

In much the same way, NFTs can also be useful for Counterfeit protection.

Counterfeiting is the largest criminal enterprise in the world, estimated to be $2 TRILLION a year and growing.

So there’s a LOT of value to anti-counterfeit tech.

@ORIGYNTech is working on this, among others.

Identity

Speaking of counterfeiting, identity theft/verification is another massive real-world problem that can be solved using NFTs.

In the US, 15 million+ citizens face identity theft every year, suffering damages of over $50 billion a year.

This is not surprising at all since all you need for US identity theft is a 9-digit number that is regularly passed around in emails, documents, on the phone, etc.

🙋 How can Identity NFTs solve this problem?

  • NFTs are unique and can’t be forged.
  • NFTs provide a global standard.
  • NFTs can be easily verified.
  • Non-transferrable NFTs (SBTs) are locked to a specific wallet.
  • NFTs can be revoked in case of wallet loss or theft.

This could be one of the biggest use cases for NFTs.

Imagine a global identity standard that is standardized across countries, cannot be forged or stolen, is digital, easy to verify, and protects your private details.

And since your identity is more than just your Government ID, you would likely have multiple identity NFTs.

@0xPolygon and @civickey are working on on-chain identity, among others.

Memberships

Digital and physical memberships can also use NFTs to verify access requirements.

Voting

NFT identities can also solve problems like the verification of votes.

If you remember the 2020 US election, there’s no need to explain why this is a problem worth solving.

The simplicity of online voting can also increase voter turnout.

Intellectual Property

NFTs can also be used to protect intellectual property.

This can allow creators to earn royalties from their creations.

⚙️ NFTs have 2 key properties here:

  • Verifiability → IP ownership is clearly defined & publicly verifiable.
  • Standardization → unlocks door for platforms that let creators earn royalties from their IP.

Content Rights

Monetization without copyrighting = more opportunities for everyone.

Music is a pretty obvious use case for this.

Creators currently get screwed and earn very little from platforms like Spotify and Apple Music.

You can also read : How to Buy Real Estate Using Cryptocurrency?

Crowdfunding

NFTs can also be used by creators to crowdfund.

Investors can receive NFTs that represent rights to future royalties, for example.

This is particularly useful for fields where people who are not in the top 1% can’t make money. (Example: Professional sports players)

Mirror.xyz enables crowdfunding via blog posts.

Financial NFTs

This leads us to a broader concept of Financial NFTs (fNFTs). There are lots of financial contracts that are unique.

💰 Examples:

  • An individual’s basket of assets (unique portfolio)
  • A debt agreement with a lender that has been partially repayed
  • Time-locked tokens (ex: veCRV)

Legal Contracts

But this doesn’t have to be limited to financial contracts.

Generally speaking, any legal contract or document can benefit from NFT representation.

Emails & Messages

But why stop at legal contracts? Verbal agreements through emails and messages are also unique, but suffer as a means of verification since they are easily lost and can be forged.

Medical Records

Medical records or prescriptions are yet another example of documentation that has a high requirement for verification but lacks the proper systems for doing so.

Examples of Medical documents that can be represented through NFTs:

  • Vaccination certificates
  • Covid test results
  • Prescriptions
  • Medical conditions connected to one’s identity
  • Data tracked by health sensors

You can also read : Web3 Adoption Curve

Existing systems of proof by paper / PDF have photoshop-risk.

I tried to cover most of the use cases I could think of, but I think this barely scratches the surface.

People are finding other creative use cases for NFTs too.

For example: @ShaanVP minted an NFT called “5 Minutes of Fame” 👇

Here are 2 Twitter threads you can read to learn more about the future of NFTs:

  1. This piece of gold by @chriscantino

2. This conversation between @punk6529 and @RaoulGMI on @RealVision “The World According to @punk6529”

Finally, if you find yourself asking why NFTs are uniquely well-suited for these use cases over the existing web2 database systems, see this Twitter thread I wrote:

If you enjoyed this piece, consider sharing it with your community to spread the word.

Credit : Medium