NFTs are revolutionising online gaming

WHEN NFTs first began to make waves in early 2020, the industry basically consisted of an alternative art economy, with a global market cap of just under US$100 million.

The following year, what was dismissed by many as a fad that would soon go the way of Beanie Babies, had exploded into a US$40 billion industry with applications in a wide range of digital domains.

NFTs, or non-fungible tokens, are designed to be one-of-a-kind digital goods. While basically all items and goods are replaceable (ie "fungible") to a large degree, the whole value proposition of an NFT is that it is a one-of-a-kind impossible to copy, digital creation. The application of blockchain tools has opened the door for an entire marketplace of uncopyable digital creations.