[Industry News] Nifty Conference and Hackathon 2018: The Future of NFTs

The Nifty Conference, a three-day event running through July 24-26 at Cyberport Hong Kong, brought together international developers, investors, and entrepreneurs to discuss the future of non-fungible tokens (NFTs), blockchain gaming and collectibles.

The utility of non-fungible tokens is central to blockchain gaming. The success of Cryptokitties through ERC721 is a great example, and Alphaslot believes that we can also have much larger utilization factor. The addition of saleable non-fungible tokens based on ERC721 gives gamers a whole new way to build up a collection of digital assets. Alphaslot’s own ERC 721 iteration is the ALPHABOT, a customized NFT avatar that doubles as a game player’s lucky charm. The ALHPABOT, on top of being a collectable and customizable digital asset,  can also enhance game play such as increasing odds of winning and unlocking new game elements, thus giving ALPHABOTs with high-demand enhancements a higher value.

The idea of using blockchain for collectibles is already seen in Codex, which is a platform designed to help crypto owners enter the market for art and collectibles, where real ownership for users can be established. This decentralized database for the collectors also covers physical items, all the while allowing for proof of ownership and privacy at the same time.

“NFT’s or ERC-721’s unique assets and collectibles are the next generation of Blockchain value. From Cryptokitties to Codex, they represent an entirely new asset class and a quantum leap in how we quantify and interact with the world around us in a decentralized way.” explains Jehan Chu, co-founder and managing partner at Kenetic Capital.

Ari Mellich, the CEO of Decentraland, a virtual reality platform powered by Blockchain, also expressed his positive opinions about the future of NFTs: “As blockchain continues to revolutionize the gaming industry, we are eager to welcome hundreds of enthusiasts to discuss, debate, and celebrate what’s next for this flourishing sector.”

We are definitely  looking forward to more innovative, practical and interesting use cases of NFTs to change the world, and ALPHABOT will be at the forefront bringing a new edge to gaming.