Satoshi’s Games announced earlier this year, that they would launch a multiplayer battle-royale game. Light Nite, have now said that they will be utilizing the Liquid Network in order to issue non-fungible tokens (NFTs) for in-game items.
Basically, things that the gamer will use/collect, such as weapons, clothings, food etc, are now exportable and also tradable, thanks to Liquid. These tokens can be withdraw into the players, Blockstream Green Wallet.
After receiving a Light Nite token outside of the game, a player can deposit the token in their Light Nite account to receive the associated skin for use with their character in-game. A purchased copy of the Light Nite game is required to access the Light Nite store.
The Liquid Network is based on the Bitcoin codebase. That means that tokens are have similar time locks and securities. Each token is public and therefore each player can verify the scarcity of it for themselves. If you send or receive tokens that is confidential, though Confidential Transactions.
The Growth of NFT’s
Non-fungible Tokens have seen a parabolic rise in interest, propelled by Cryptokitties, which almost clogged up the Ethereum network. There has also been a big rise in the sports clubs that have issued tokens, as collectibles and fan support, this includes games such as MLB champions and Formula 1. Axie Infinite is another NFT game with tradable tokens that users can breed and develop to earn more money.
Not only this, people are turning to tokenization of items such as art. The Winklevoss brothers, founder of Gemini, have for example, tokenize famous artist and their digital art called Nifty Gateway. It seems as though, we are just at the peak of the iceberg with this trend!
More articles about NFT from Krytorgrafen:
- Games Built on Blockchain
- Will this be the year of NFT?
- The $ALEX Token may be the start of ISA with Crypto.