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From online gaming to luxury goods: The NFTs doing it all

Collectables: Cryptokitties

If there’s one non-fungible token you already know, chances are it’s Cryptokitties. There’s really not more to it than the name suggests—the game allows you to collect and breed cartoon cats that, much like in the real world, will never be exactly the same.There are four basic types of cats: Normal, Fancy, Special Edition and Exclusive, each having a variety of ‘cattributes’ available, you can find ‘ In 2018, a cryptokitty called Dragon sold for 600 ETH (INR 2,30,03,496 today).

Gaming: Gods Unchained

Gods Unchained is a strategic game where you collect cards with unique powers and play them against your opponents. Think of it as the adult, blockchain version of stone, paper, scissors—if stone, paper, scissors had a cool backstory involving mythical gods. Players must tactically build a deck of 30 cards and align themselves with one of 6 gods. The game is free to play, which means you’re essentially earning assets that you can sell at no cost of your own. You can trade cards to advance in the game, or you could even convert them to real world cash through the Gods Unchained marketplace.

Sports: Sorare

Sports leagues from the NBA to the NFL have jumped onto the NFT bandwagon. Sorare has been one of the more successful examples. It’s a fantasy football game involving that allows you to collect one-of-a-kind cards with your favourite players. According to their website, ‘Every week, your Cards earn XP points that make them more powerful in the game and allow you to compete in higher divisions to win better prizes.’ Just like any other fantasy sports league, the value of your cards is tied to the players’ real-world performance.

Art: Dada art

Dada was a revolutionary art movement in the early 20th century that challenged capitalistic notions of art. Dada art continues this legacy, with goals to give artists true control and ownership of their work. It is a collaborative art platform where ‘people worldwide speak through drawings’. It aims to build a blockchain token economy for the arts. Vikram Rangala, ZebPay’s CMO, has earlier spoken about how NFTs can benefit India’s rising talent. He said, “India has millions of brilliant local artists and artisans and NFTs can offer new opportunities to create as well as protect their work.”

Fashion: Louis Vuitton

Coindesk reported that the LMVH, the world’s largest luxury goods conglomerate is considering blockchain technology to address the problem of fakes. The business of luxury fashion relies on prestige and scarcity. A Chanel bag or a Gucci suit has value largely because of it is unattainable to the vast majority of ordinary people. Today’s increasingly realistic fakes are a threat to this snob value, so it’s no surprise that LMVH is exploring NFTs as a solution. These will be ‘digital representations which are not only immutable but provide a hallmark of a one-and-only, unique item’.  

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