What are Non-Fungible-Tokens (NFTs)?
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This article explains what an NFT, or Non-Fungible-Token is.
The purpose of this article is to educate the reader on what an NFT is, and what the current and potential use cases are for NFTs.
This article assumes the reader understands the information in the following articles:
What is a Blockchain?
An NFT is a unique item that exists on a blockchain in limited supply. In the Gala Games ecosystem, NFTs are in-game items that can be collected, traded, or sold.
NFTs are part of what will enable players to take control over the ownership of their game items. Items, land, buildings, and nearly anything that you can imagine that would usually only retain value inside of one game will have the potential to add value to other games inside of the Gala Games ecosystem.
An example of a current NFT is the CraneBot, which will be used in the game Town Star.
NFTs are based on the ERC 1155 or other ERC standards.