The ecosystems of gaming, sports, and entertainment have one thing in common – their die-hard fans. Gamers, sports enthusiasts, and passionate artists have spent long hours on something they love – primarily for free. Highstreet, a reputed name in the cryptoverse, notes that the world of blockchain and Web3 understands the value of time. And they have put a price on yours.
Time is money – with NFTs, gamers can make every second count. Today, when a player spends time on a game and, say, buys a character, they can turn it into an NFT (Non-Fungible Token). Instantly, that character becomes a tradable digital asset worth real-world money. This means that the player can sell that character for cryptocurrency. This gives rise to the very real possibility that gaming could become a full-time, high-paying career, explains crypto wunderkind Highstreet.
With NFTs, sports fans can now reap the benefits of being avid followers of real-world matches and sports players’ performances. Memorabilia, trading cards, signed autographs, and sports kits are being ushered in as the limited, high-value digital collectibles.
The entertainment industry’s tycoon, Fox Entertainment, has backed an NFT project with a whopping $100 million. NFTs are unique, authenticated digital assets that are few. It is tremendously hard to duplicate an NFT, reducing the possibility of fraud to close to zero. Highstreet explains the impact – a song that could otherwise get pirated, once tokenized, will give each owner a unique identification number, making pirating utterly impossible. That benefits content creators hugely.
At the confluence of sports and entertainment lie video highlights of key moments in a game. Highstreet talks about platforms that allow fans to buy, sell, and exchange the limited versions of official video highlights. That makes a buyer of that highlight the owner of an unforgettable moment.
“Will everyone jump onto the NFT trend?” said Highstreet, “Maybe not. But the smartest ones most definitely will.”