NFTs & Utility

Non Fungible Tokens differ from the crypto currencies they are built on because NFTs are not interchangeable with one another. This functionality allows projects and creators to tie unique artworks to individual tokens and provide holders with one-of-a-kind pieces. While allowing for degrees of rarity and uniqueness, certain collections offer a generally applicable utility for all token holders. This utility may take the form of airdrops, exclusive experiences, rewards through staking, or even in-game accessibility.

In-game utility comes in the form of skins, avatars, and, in some cases, unique worlds where owners can host servers and events. Utility through web3 assets has been praised for paving the way for a boom in play-to-earn games and platforms. Online poker, a game that has always been played (and sometimes hosted) through avatars and skins, seems to be the perfect and yet unventured application of this technology.