Non-Fungible Token (NFT) GameStop Goes All-In On Blockchain

   Non-Fungible Token (NFT) GameStop Goes All-In On Blockchain

In partnership with Immutable X, GameStop will soon launch its NFT marketplace. There, users will be able to trade in-game assets - such as items from Fortnite, the popular Battle Royale video game - via blockchain tokens on the Ethereum platform. That’s right, you heard us - blockchain NFTs are coming to GameStop...and it’s going to be big news for gamers everywhere. Here’s why!...

What Is A Non-Fungible Token (NFT)?

NFTs are tokens that have unique, immutable digital properties. In other words, they’re unique; each one has a serial number and is impossible to replicate. This ensures that NFTs cannot be counterfeited or duplicated by hackers to falsely represent ownership of in-game items.

 While in many ways it seems as though blockchain technology will replace more traditional payment methods - especially with all of today’s talk about Bitcoin - actual adoption will likely occur on much smaller scales. It won’t suddenly become common for friends to transact via cryptocurrencies like Bitcoin (BTC), for example; rather, blockchain tech is likely to permeate everyday life by serving an alternative use case altogether: allowing users complete control over their private data.

How Do Non-Fungible Tokens (NFT) Work?

Non-fungible tokens (NFTs) are non-interchangeable digital assets. They can be unique to a single owner and each NFT has an associated cost, rarity, and identity. In other words, they are very similar to physical collectibles like art or cards, which have real-world value based on their scarcity and quality. To date, most collectibles in games are represented by fungible items that anyone can get their hands on. However, with blockchain technology, these can now exist as truly scarce digital goods that only one person owns at any time.

What Is An ERC721 Token?

ERC721 is a token standard that allows for unique virtual assets. The idea behind ERC721 was to create an Ethereum token standard for nonfungible tokens. Tokens issued using ERC721 are uniquely identifiable, which means you can track them on a blockchain explorer.

 In simple terms, ERC721 tokens work similarly to asset-backed securities that you might trade in stock markets. Any digital game collectible (such as those available at GameStop) could be issued as an ERC721 token, and users can transfer these tokens freely between one another. These transfers will be recorded by smart contracts and stored forever on a public ledger. They’re called NFTs (Non-Fungible Tokens). This concept of digital ownership differs significantly from existing NGP s that tend to emphasize transparency over privacy.

What Is an ERC827 Identity Contract?

As its name suggests, an ERC827 identity contract can be used to represent an identity on Ethereum. What makes these contracts so special is that they come with a built-in function for verifying claims about their owner. When it comes to any kind of blockchain business - particularly those that deal with assets and currency - knowing who you’re interacting with is of vital importance. 

The long-term potential applications are huge; imagine making purchases on your PlayStation Network account without having to go through multiple user verification processes or signing up for brand new services with nothing more than your Facebook profile.21 hours ago

4 Ways To Monetize With Augmented Reality: AR could generate significant revenue streams for mobile gaming companies in 2019 and beyond.

Why Did The Gaming Company Partner With Zeppelin OS?

GameStop is using a customized version of ZeppelinOS, which runs smart contracts on top of Ethereum. It's not just that GameStop believes in blockchain, but that it's also testing new ways to attract younger customers. It’s going to be more about convenience and more about interactivity, Coughlin said. If you think about trading card games, you can’t trade unless both parties agree to trade.

Future For The Blockchain Gaming Industry

Today, Immutable X partners with GameStop to expand its blockchain gaming marketplace. Last year, half of all PC gamers were purchasing digital games and in-game items, with one in every five purchases made online.

 While digital distribution is continuing to drive growth for game companies, spending on digital goods within those games continues to grow at a similar pace. If these trends continue over time, blockchain could be an ideal platform to host an emerging market for digital gaming assets. GameStop Goes All-In On Blockchain

In partnership with Immutable X, GameStop will soon launch its NFT marketplace. There, users will be able to trade in-game assets - such as items from Fortnite, the popular Battle Royale video game - via blockchain tokens on the Ethereum platform. That’s right, you heard us - blockchain NFTs are coming to GameStop...and it’s going to be big news for gamers everywhere. Here’s why!...

What Is A Non-Fungible Token (NFT)?

NFTs are tokens that have unique, immutable digital properties. In other words, they’re unique; each one has a serial number and is impossible to replicate. This ensures that NFTs cannot be counterfeited or duplicated by hackers to falsely represent ownership of in-game items.

 While in many ways it seems as though blockchain technology will replace more traditional payment methods - especially with all of today’s talk about Bitcoin - actual adoption will likely occur on much smaller scales. It won’t suddenly become common for friends to transact via cryptocurrencies like Bitcoin (BTC), for example; rather, blockchain tech is likely to permeate everyday life by serving an alternative use case altogether: allowing users complete control over their private data.

How Do Non-Fungible Tokens (NFT) Work?

Non-fungible tokens (NFTs) are non-interchangeable digital assets. They can be unique to a single owner and each NFT has an associated cost, rarity, and identity. In other words, they are very similar to physical collectibles like art or cards, which have real-world value based on their scarcity and quality.

 To date, most collectibles in games are represented by fungible items that anyone can get their hands on. However, with blockchain technology, these can now exist as truly scarce digital goods that only one person owns at any time.

What Is An ERC721 Token?

ERC721 is a token standard that allows for unique virtual assets. The idea behind ERC721 was to create an Ethereum token standard for nonfungible tokens. Tokens issued using ERC721 are uniquely identifiable, which means you can track them on a blockchain explorer.

 In simple terms, ERC721 tokens work similarly to asset-backed securities that you might trade in stock markets. Any digital game collectible (such as those available at GameStop) could be issued as an ERC721 token, and users can transfer these tokens freely between one another.

 These transfers will be recorded by smart contracts and stored forever on a public ledger. They’re called NFTs (Non-Fungible Tokens). This concept of digital ownership differs significantly from existing NGP s that tend to emphasize transparency over privacy.

What Is an ERC827 Identity Contract?

As its name suggests, an ERC827 identity contract can be used to represent an identity on Ethereum. What makes these contracts so special is that they come with a built-in function for verifying claims about their owner.

 When it comes to any kind of blockchain business - particularly those that deal with assets and currency - knowing who you’re interacting with is of vital importance. The long-term potential applications are huge; imagine making purchases on your PlayStation Network account without having to go through multiple user verification processes or signing up for brand new services with nothing more than your Facebook profile.21 hours ago

4 Ways To Monetize With Augmented Reality: AR could generate significant revenue streams for mobile gaming companies in 2019 and beyond.

Why Did The Gaming Company Partner With Zeppelin OS?

GameStop is using a customized version of ZeppelinOS, which runs smart contracts on top of Ethereum. It's not just that GameStop believes in blockchain, but that it's also testing new ways to attract younger customers. It’s going to be more about convenience and more about interactivity, Coughlin said. If you think about trading card games, you can’t trade unless both parties agree to trade.

Future For The Blockchain Gaming Industry

Today, Immutable X partners with GameStop to expand its blockchain gaming marketplace. Last year, half of all PC gamers were purchasing digital games and in-game items, with one in every five purchases made online. While digital distribution is continuing to drive growth for game companies, spending on digital goods within those games continues to grow at a similar pace. If these trends continue over time, blockchain could be an ideal platform to host an emerging market for digital gaming assets.

How to buy rare digital items on the Binance NFT Marketplace

Have you ever wanted to buy rare digital items? If so, you’re not alone! In this guide to buying rare digital items on the Binance NFT Marketplace, we’ll tell you all about the four main types of rare digital items on the site—CryptoKitties, Decentraland, CryptoPunks, and CryptoBots—and how to buy them from other users. To start, though, here’s a quick rundown of what the Binance NFT Marketplace is and why it matters in the crypto world.

What are Non-Fungible Tokens (NFTs)?

Non-fungible tokens (NFTs) are a new type of crypto asset designed for unique collectibles, such as art, fine wine, and real estate. They are called non-fungible because each token is unique and cannot be replaced by a different token. For example, if you sell your house there is no one else’s house you can swap it with, making your house unique and non-fungible. The same applies to high-value collectibles like art, vintage cars, or jewelry. 

These are all non-fungible assets and they make up a sizeable portion of global wealth and finance. That's why we've created an ecosystem that makes these kinds of assets easy to buy, manage, and trade: a decentralized NFT marketplace that anyone can list items in - CryptoKitties style - without having to worry about fraud or theft issues from centralized marketplaces where someone might steal their wallet file.

Understanding the process of buying

Crypto collectibles, such as CryptoKitties, are now easily traded through a blockchain marketplace. Here's how you can start investing in rare digital assets. If you’re new to blockchain or don’t know much about it, please read our beginner’s guide here:

 What is blockchain? The easiest way to understand how CryptoKitties work is by comparing them with Pokémon cards or other collector cards. Just like that game from years ago, they're meant to be collected and traded among fans—though they're also tokens based on an Ethereum smart contract (not actual physical objects). This means they exist only online but still hold value based on their rarity and potential use cases. For instance, one CryptoKitty sold for over $100k due to its genetic history. So what are CryptoKitties?

Step 1 - Create an account and purchase your first ETH/BTC (Ethereum or Bitcoin)

For a simple explanation of how to do that, click here. If you’re not sure about what Ethereum or Bitcoin is, or why you would want it, please check out our Beginner’s Guide (it will only take a few minutes). Once you’ve purchased some ETH/BTC, store it in a safe place.

 There are several steps before you can start buying NFTs so having funds readily available and secure is important. Our top recommendation for storing your cryptocurrency is MyEtherWallet - make sure you save your private key! You don’t want to lose access to your ETH/BTC. They also make a hardware wallet called TREZOR which we highly recommend as well.

Step 2 - Transfer ETH/BTC from your exchange wallet to Binance's wallet

Navigate to Funds > Deposits & Withdrawals, you will find all kinds of currency under Wallet. Select Deposit at Binance (BTC) or Deposit at Binance (ETH), depending on which currency you are depositing, and copy its wallet address. If your deposit is correct, click Deposit and choose Withdrawal in USD tab, you can check your transaction status on the pending page.

Step 3 - Deposit your Ethereum or Bitcoin from your wallet into your Exchange wallet on Binance

After you have deposited Ethereum into your account, it will appear in your Exchange wallet. You can view your balance of Ethereum here. To learn how to send Ethereum from another exchange or a different wallet back into your Exchange account, please refer here. The same process applies to Bitcoin and other types of cryptocurrencies.

 Do keep in mind that each crypto is charged a different fee depending on where it’s coming from, so make sure to double-check before sending. (And if you don’t know what Fee-Rate is – it’s just a certain percentage fee per trade.) You can find more information about Crypto Fees by visiting their Help Center page here.

Step 4 - Locate your NFT(s) you want to purchase

You can search for an NFT by name or ID, or browse by category. Let’s search for Cryptokitties! Click on Cryptokitties in Category and then click Search. In doing so you will get a list of all crypto kitties listed in auction mode and their price.

 Also, it shows how much ETH is being bid, by whom, and the duration of the sale. Click Buy Now button if you want to purchase at the present value shown. Else select other modes like Best Bid/Ask Price, Pairs, etc.. as discussed above and bid accordingly.

Step 5 - Purchase using Market or Limit order

By using a limit order, you can specify how much you are willing to pay for an item. This means that your order will only be executed if and when someone is willing to sell at your price. You can choose between a market or limit order in any of your transaction processes on Binance. com, but keep in mind that both orders have advantages and disadvantages: 

The advantage of choosing a Limit Order is that you specify what you’re willing to pay for an item. If no one else is selling it at your specified price, then there’s no need to wait around until someone sells it at your specified rate; therefore, it also reduces the time spent waiting.

Step 5 - Checkout: Once you have selected your desired Mode(as discussed above) enter your email address which should be verified with binance & submit a form without any further delay.

Section 6 - Review transaction fees, etc.

Binance is currently charging a standard 0.1% transaction fee for each trade. It’s not unreasonable, but it’s also worth taking into account that some exchanges offer free trading; depending on your volume, it might be more cost-effective to move your transactions elsewhere. In addition, you should take into account deposit/withdrawal fees and margin trading fees if applicable; there is usually a large spread between these rates and those charged by exchanges so they are often left out of comparison calculations. 

Lastly, it’s useful to know what kind of currency pairs are available at each exchange; different currencies require different levels of verification. Some sellers may accept only wire transfers while others will accept just about anything including gift cards or Paypal transfers.

Early in your career as an entrepreneur, you must be ready for many challenges that come up in terms of finding funding.

Section 7 - Send your purchased cryptocurrency back to personal wallets

(so no one can steal your coins!) Now that you have bought some cryptocurrency, you need to send it from the exchange's wallet back into your wallets. This is extremely important to ensure that no one can steal your coins!

 Here is how: 

(1) Go back to Withdraw and click on where it says Deposit.

 (2) Select wallet and then send. Copy your public address by clicking on copy address. Write down or memorize your unique 12-word mnemonic seed or keep it backed up somewhere safe! Be sure to write down both words if there are two lines of words.