A year ago, NFTs were obscure virtual assets known only to tech geeks — but as video game companies enter the growing market, industry players hope they’re poised to go mainstream.
Short for “non-fungible tokens”, NFTs are digital items whose certificates of authenticity and ownership are registered on blockchains, the technology behind cryptocurrencies.
From art to fashion, the creative industries have been quick to experiment with an innovation that has sparked excitement and scepticism alike in the tech sector.
Auction houses like Sotheby’s now sell NFTs alongside oil paintings, while film director Quentin Tarantino is embroiled in a legal feud over NFTs from his cult movie “Pulp Fiction”.
And now that they’re being introduced to video games, proponents hope millions of players could become familiar with an idea that remains tricky to get one’s head around.
“NFTs are still a niche…
