The coinmarketcap.com website has just listed Atari’s crypto token, which stands for “NFTs” (Non-Fungible Tokens) or digital collectibles.
They’re part of the Atari Capsule Collection, where they’re sold alongside Centipede and Pong-themed NFTs. The company is mostly known for trying to build hotels and struggling to make a game console in the current incarnation.
What is an NFT?
A fungible token is one that is interchangeable and divisible. Tokens such as Bitcoin, Ethereum, and Cortex are fungible tokens, as well as various tokens in cryptocurrency exchanges.
For non-fungible tokens, their unique aspect cannot be replicated. This unique aspect is embedded in their metadata and can be viewed as a permanent, irrevocable certificate of authenticity. These tokens are useful as evidence of ownership.
There is one interesting part of Atari’s NFT offerings, which you can’t ignore: the Flagship Centipede. Although the NFT piece is just another 3D model, the buyer of the original and restored cabinet will also receive the NFT.
Impact on gaming industry
An old-school video games company, Atari, has partnered with a vendor to launch Atari Metaverse, a Casino powered by non-fungible tokens. These tokens, built on the Ethereum blockchain, can be used to send currencies and make payments while playing your favorite games. The online casino will offer a brand associated with video game enthusiasts, Atari, who will be able to earn more ethereum at the casino.
Game creator Jack Kirby plans to launch an online casino in the next few months, leveraging several hot technology trends. NFTs can be used in a number of different business applications, such as in games, entertainment, music, video games, and art. They can also be reused in any application that requires a high level of security, transparency, privacy, security, and transparency.
The crossover between gaming and fashion is an obvious spot for NFTs, and with brands like Lidl and Nike releasing digital fashion products on gaming platforms, it is only a matter of time until unique digital fashion becomes in demand in the real world. Blockchain could play a pivotal role in the next wave of e-gaming tournaments; with people starting their own private tournaments, the industry now has a nod to decentralised e-games.
The NFT has a tremendous impact on the global gaming market and the fashion industry, and their application in gaming can benefit players from all walks of life. Digital assets such as app purchases and virtual currency were introduced by game developers so players would have access to those digital assets. If a player purchases those assets within a free-to-play game or withdraws them from a game, those digital assets belong to the game company.
The gaming industry is booming, making fungible tokens an attractive alternative to fiat currency when it comes to annual revenue growth. Macro-trends in the games sector are thus dragging everything else into the mix, including distributed ledger technology and blockchain assets.
Players and programmers can trade digital assets on the blockchain-powered website, evoking a combination of Second Life and SimCity.