A Centerpiece in the Project SEED Gaming World: NFT Utilization & Marketplace
Short for non-fungible token, NFT has certainly become a familiar term with all the blockchain enthusiasts today. It represents a unique asset ownership in any blockchain-based ecosystem, therefore indispensable to build a sustainable financial power to users, especially in a gaming platform. Let’s learn more about the NFT utilization and marketplace in Project SEED, and how they can assist the GameFi activities as we build the ecosystem.
Non-Fungible Token (NFT) and its utilization in Project SEED ecosystem
NFT stands for non-fungible token, which we can use to represent ownership of unique items and are stored on the blockchain. No one can modify or change the record of the ownership since all the information is stored in the blockchain. It lets you tokenize things like art, collectibles, virtual lands, game assets and items. We are implementing NFT into Project SEED ecosystem for this will benefit the item holders for their tamper-proof ownership.
Aside from being collectible items, Project SEED also adds interoperability, value and use cases for the NFTs in the Project SEED ecosystem. Our NFTs can be used within the ecosystem and games that we will be releasing in the future. They are both forward and backward-compatible to boost the ecosystem further.
To increase usability and convenience, Project SEED NFT Marketplace will be available both in-game and also off-game (Web3 application). For the professional merchant, we will create a Merchant Application to specifically boost their profitability and exposure to the players across the ecosystem.
In-game marketplace will be the go-to place for users who want to conveniently buy, sell, rent, or lend any NFT without leaving the game. However, in-game marketplace will only show Project SEED ecosystem NFT and partners NFT.
Off-game or web-based marketplace will be more well-suited for seasoned users who want to have trading NFT activities when they are not online in the game or with a larger screen size for better navigation and browsing. It will show NFTs of the Project SEED ecosystem, our partners’, and other collectible NFTs.
As we develop Project SEED ecosystem, we are exploring the possibility of partnering with local payment processors to allow our users to conveniently and easily buy and rent NFTs or buy SHILL token with their local currency directly within the application. This will greatly increase our exposure in the traditional gaming ecosystem and increase in our traditional user-base.
Merchant Application is designed to allow merchants to track their marketplace performance and enhance their sales with our advertisement systems. Merchant Application will contain more in-depth data and features specifically to enhance merchants’ experience, sales and potentially create a dynamic where we can see professional merchants being born in our Project SEED ecosystem.
Stay tuned for our upcoming IDO. Follow Project SEED for more exciting news and updates: