This article provides clarification on the concept of game ownership using NFTs.
This article assumes the reader knows:
Most gamers of the world are eager to really own their items, but the majority of them have yet to experience the game-changing power of true ownership. Read on to learn why the owned digital game items offered on our platform are so special.
Misconceptions About NFTs
You’ve probably heard of NFTs (non-fungible tokens) by now. You might have heard some negativity about them from your gamer friends, and with good reason. Unfortunately there have been plenty of cash-grab trendbait projects whose creators had no intention to stick around for long. We’re a different story, and our owned items are in a class of their own.
The days of getting ripped off by cartoon profile pics of punks, apes, cats, dogs, and zombie ducks are coming to a close, and now it’s time for the real digital goods (the ones that actually do stuff) to shine.
What is an Owned Item?
Simply put, an owned item is a digital thing that is minted on a blockchain.
We have a blockchain called GalaChain. We learned everything we could from the successes and failures of previous blockchains and created GalaChain from the ground up, a versatile and empowering platform that allows users to actually own stuff.
In the same way that cryptocurrencies are minted, digital items can be minted as unique tokens, but there are several key differences that make digital minted items more versatile than physical ones in terms of utility.
1) They can be upgraded
With GalaChain, it’s possible to upgrade items permanently, with upgrades that stay with the item no matter who owns it. In gaming, the familiar phrase here is “leveling up.” You can grind and level your minted items, then sell them to another player with the hard work already done. Think of the possibilities!
2) They can be transferred easily and instantly
Transfers of minted items from one owner to another are incredibly easy with GalaChain. Trading and transferring items adds an entirely new dimension to the fun of gaming. Gamers who are familiar with accumulating a bunch of in-game stuff they don’t need will be happy here, knowing that they can unload unused items and actually get something for them.
3) They can participate in smart contracts
This feature is especially unique for items minted on GalaChain. Smart contracts take care of everything, and the platform lets users easily set up agreements to share rewards and benefit from the owned items of others. You can lend your items to other players who will share their gameplay rewards with you, or use your item as a key to unlock gameplay rewards for yourself. Ownership of certain items can even sometimes gain your access to exclusive enhanced gaming experiences.
If you’ve been wary of owning digital items in the past, we think you’ll be pleasantly surprised with the features and benefits of ownership within the Gala Games ecosystem. Have fun!