Interoperability of NFTs — YAY Games

Published on: 14.10.2021

The non-fungible token (NFT) hype, which started earlier this year, has taken the world by storm. Gaming, digital art, sports leagues, and many other industries slowly adopt NFTs as core businesses.

Although the NFT hype is justified, enabling unique and transparent ownership over digital assets, there is still a long way to go before this technology achieves its full potential.

Just like there is now blockchain interoperability, allowing users to easily swap tokens and assets from different blockchains in a matter of instants, is it possible to have interoperability between non-fungible tokens (NFTs)?

In this article, we’ll be exploring the possibility for NFT interoperability, how NFTs will help shape the ownership of virtual items, and how YAY Games decentralized marketplace will play a part in this digital revolution.

Metaverses — the home for NFTs

Imagine a world where any NFT, whether from a video game or a marketplace, is accessible under the same place. This world is called a metaverse, a virtual environment where you can walk around and socialize with your friends, go to concerts, meet co-workers in a shared office, or visit stores that have digital representations of real clothes and products.

Although these metaverses already exist in games like Minecraft, Second Life, and Fortnite, they still lack NFT integration. Crypto projects like Decentraland and The Sandbox are already selling virtual real estate and intend to build immersive virtual reality (VR) experiences and large-scale virtual cities.

The first NFT interoperability success story

Despite the currently available metaverses that have failed to achieve NFT interoperability, a smaller project named Mythicats has already accomplished this revolutionary feat.

The team responsible for Mythicats developed a way in which an already existing NFT from CryptoKitties, one of the earliest blockchain games ever created, was forged into a completely new Mythicat NFT. The rarity of the CryptoKitty determined the strength of the newly minted Mythicat used to forget it. Users also have the opportunity to “unforge” their Mythicat and receive their old CryptoKittie back.

Although still a rudimentary implementation of NFT interoperability, Mythicats proved that NFT interoperability is achievable. In the future, NFTs from different platforms will be easily exchanged or even used under the same game or metaverse. By exchanging an NFT from one game to another, you’ll also have the potential to receive special perks, exclusive invitations.

What the Mythereum team did was revolutionary because you could take an existing CryptoKitty NFT and forge it into a completely new NFT to use in Mythereum gameplay. The CryptoKitties rarities were used to determine the strengths of the newly formed Mythicat NFT. And if you didn’t want to play Mythereum anymore, you could simply un-forge your Mythicat, and your CryptoKitty would return to you, no worse for the journey.

YAY Games NFTs

YAY Games also plans to incorporate NFT interoperability in its decentralized gaming marketplace, making it possible to exchange items between Bold Point and any future game published on our platform.

The abovementioned marketplace will host multiple NFTs, aiming to diminish the needs of our users. Our marketplace will support those who don’t have time to play a game but have enough resources, and those who have plenty of time but lack resources.

They also aim to make NFT functionalities as original as possible, allowing in-game items from one game to be exchanged for certain perks, unlockable content, or even tournaments in a different game.

About YAY Games

YAY is a decentralized gaming marketplace designed for gamers, traders, and farmers that merges the gaming sector with decentralized finance.

YAY, at its core, is a gaming marketplace platform that is introducing multiple games in a decentralized way, utilizing blockchain technology to diminish the gap between games and decentralized finance.

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