EOS developers now have two new ways to create crypto collectibles. Over the past week, two different non-fungible token standards (NFTs) have been released: Simple Assets by CryptoLions and dGoods by Mythical Games. If these efforts are successful, they could enhance EOS’s token landscape and help monetize blockchain gaming.
What Are Non-Fungible Tokens?
Non-fungible tokens, or NFTs, are special blockchain tokens that were originally popularized by CryptoKitties, an Ethereum-based trading game, in late 2017. Although NFTs have monetary value, they aren’t interchangeable like coins or bills are. Instead, each NFT is unique and holds value like a rare trading card does.
Over the past year, CryptoKitties has spawned a number of imitators, such as Blockchain Cuties on TRON. However, the most promising application of NFTs involves adding tradable items to mainstream video games. This has been called a multi-billion dollar market, and blockchain platforms like WAX are already breaking into it.
EOS could become the next…