Published On: July 6, 2021

What are NFT’s?

[mepr-hide rules="18139"]
[/mepr-hide]
spacer

NFT stands for non-fungible token. It is data added to a file that creates a unique signature. It can be an image file, a song, a tweet, a text posted on a website, a physical item or various other digital formats. In the case of Incarnate it is a gaming object for you to collect, trade or sell.

This basically means that someone can own a digital file (and that it’s marked with code to differentiate it from any digital replicas).

So what is an example of an NFT?

If you were one of those players who played FIFA at some point in your life then you owned NFT’s! The point of the ultimate team game was to collect and trade the best player’s cards to be the best.

So how does this differ to a card collection? The card collection is a real life object which you can hold in physical form. The NFT cannot be held physically.

spacer

Like all objects, there are risks to purchasing NFTs! The biggest fear is whether the NFT will hold it’s value. For example, cryptocurrencies such as Bitcoin could lose their value in minutes or they could rise and break their all time highs! It really depends on how much the buyer is willing to pay for it!

So how will Incarnate implement NFT’s into the game?

Incarnate will have NFT’s in the game because you’ll be able to trade, sell and collect the Mind, Body and Soul (and potentially the Eternal) parts. This means the player base determines the value of each part meaning they could vary from day to day! What a fun way for the community to trade any unwanted duplicate pieces they have!

spacer
[mepr-hide rules="18139"]
[/mepr-hide]
0 0 votes
Community Rating
guest
2 Comments
Inline Feedbacks
View all comments
Elvo7
Elvo7
2 years ago

great article

kristerrr1
kristerrr1
2 years ago

thats a really good explanation thank you