The higher the demand lower will be the supply and the higher will be the demand of the coin. Just like any other asset, the value of this cryptocurrency depends on demand and supply. This ERC-20 token will get burnt to buy a non-fungible land of the game, hence creating shortness of supply of coins eventually. It is also used in their NFT marketplace to buy LAND which is virtual real estate in the game of 16 X 16 meters. This coin is used in the game to power the whole of Decentraland’s economy. MANA is a token available to trade on these exchanges: OKEx, Binance, Upbit, Huobi Global, LATOKEN, Exrates, Bitso, MXC, Coinbase Pro, Bittrex, BW.com, CoinEx, Gate.io, Alterdice, DragonEX, VCC Exchange, CoinDCX, Poloniex, HitBTC. This fungible ERC-20 token is known as MANA. This wallet helps to conduct NFT transactions in the game and even store those NFTs when boughtĭecentraland uses a fungible ERC-20 cryptocurrency token which is limited to a total original supply of 2,805,886,393 and the current total supply of 2,194,916,827. It works on the Ethereuem blockchain and thus requires Ethereum based wallets like Metamask. Some of the examples of the games areĭecentraland is one of the most famous NFT real estate games and by market capitalization is 2 nd on the list of gaming tokens. In these games, the players can lease or sell the estate they own to other players in exchange for cryptocurrency as a form of payment. In real estate NFT games, the estate is limited just as in the real world. This is the same concept applied to NFT games.Įvery game has its metaverse, which is a world where players can interact with each other and play the game. But real estate doesn’t come cheap as it is limited in the real world. Real estate is required to start our establishment and to grow further. Real estate games have become popular day by day. Investing In pools of stake in the game.Later the buyer can sell it and earn back some money.Īnother way of earning money through NFT games is The user that buys the NFT, will be able to use that NFT in the game and hence improve the playing experience. These specialized game equipment like the guns and skins or any other equipment can be sold to different players/collectors on a marketplace as an NFT. NFT games give players lots of opportunities to earn money and hence get a return for the time they have spent playing the game. This helps the players to have a special experience playing the games. On the other hand, all the gaming services earn a huge chunk of their revenue by selling game equipment like skins, guns, clothing, badges, memberships, etc. The disadvantage of these traditional games is that there are very few opportunities for gamers to earn money through playing. This industry had expected revenue of $180 billion in 2020 is trending even more due to pandemics. One of the niches in NFT gaming that is becoming popular day by day is real estate. NFTs involve all things digital from memes, gifs, tweets, game equipment, art, music, etc. When the collector buys the NFT from the NFT marketplace, in exchange for the cryptocurrency NFTs get stored in the wallet. Metamask is one of the most famous crypto wallets which is based on Ethereum technology. The transaction is facilitated by a cryptocurrency wallet which needs to be compatible with the blockchain technology on which the marketplace is based. Since most of the marketplaces are developed on Ethereum blockchain, the cryptocurrency utilized for NFT transactions is generally Ether (ETH). The mode of payment will be in the form of cryptocurrency.
This will showcase the digital asset on the marketplace and collectors will be able to buy it at a fixed price or in an auction. The creator has to mint the NFT onto the marketplace and then list it. The most famous blockchain technology on which these NFT marketplaces are based are These digital assets can be traded using the NFT marketplace which relies on blockchain technology. The original art will be more valuable when compared to its reprints since it will be one of kind. Consider an example of an artist and his art. Hence each one of them will have a different value associated with it. There will always exist one of one kind of NFT and hence will be unique. These are assets that can not be replicated.
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