Non-fungible tokens (NFTs) are actually quite a technological innovation in their own right. At the heart of it, NFTs were different from regular cryptocurrency tokens simply by being the direct opposite of fungible tokens. 1 Bitcoin or 1 Ethereum would always be, by design, indistinguishable from another 1 Bitcoin or Ethereum. This allowed them to be perfect currencies, interchangeable from other units in terms of value.
NFTs, on the other hand, were completely unique from each other, and, depending on the attributes assigned to each token, carried different values.
NFTs are (only) proof of ownership
The issue that many are taking against NFTs — as they are being marketed, sold, and talked about the world over today — is that they are purporting to be more than what they actually are: proof-of-ownership records stored in a blockchain ledger.
So instead of NFTs simply being a secure way to verify and authenticate an owner of a digital record, NFT projects out there are creating illusions of items, typically digital art, that appear to be seemingly frivolous efforts that give NFTs ownership of a certain copy of digital images but not necessarily copyright of the originals.
While the concept of ownership would work great for digital NFTs as a representation of physical items, most of the NFT projects you see have no physical representation and, as such, are unable to give utility that should come with ownership. With these NFTs, all owners can do right now is sell their tokens to someone else. The NFTs are static, and users can’t modify or alter or improve them.
Worse, all of these digital art NFTs actually have very low quality in terms of aesthetics. Pixelated jpegs, blurry images, wrong layers causing erroneous overlaps in “AI randomized art” are commonplace. And referring to collectibility value, how rare exactly is a piece of art that in theory, is easily downloadable and copied from the Internet?
Bringing a much-needed non-static aspect to gaming NFTs
But enough about the problems with NFTs and the industry that many are criticizing. Cradles is a blockchain game project and we’ve decided to center our tech around a unique type of NFT that incorporates some features of fungible tokens as well as other features of non-fungible tokens.
In practice, we’re building the world’s first hybrid fungibility token based on the EIP3664 Ethereum protocol. Crucially, this will render the new tokens the ability to exhibit unique customizable attributes that are able to reflect actual real-world time effects.
The full functions of this new type of token will be used in our major game release to run a new type of economy but also to make possible a new aspect of world-building for gamers: a world of environments and in-game items and characters that aren’t just static, but living and evolving as time passes!
We’re some distance from the full Cradles game release but we know gamers like no one else and even with our test products, we want our community to see for themselves what combinable NFTs will look like. So we created the Dragontar NFTs which will demonstrate the unique qualities of EIP3664 hybrid NFTs via our upcoming mini-game.
A Dragontar NFT can be a standalone NFT but can also be mixed and matched, combined, altered or customized by any number of other NFT components like skin, body parts, clothing and accessories. These, you’ll also be able to obtain in-game but from a component marketplace. You’ll also need one to be able to play the mini-game that’s coming very soon.
So, unlike the majority of other NFT projects out there, when you get a Cradles Dragontar NFT, you will be able to actually use it to play games in an entirely new concept! Not just hold an NFT for speculative value on collectible marketplaces (not that these Dragontar cuties don’t also have collectible value!).
Shut up and take my money!
Yes, there will be opportunities to purchase your own Dragontar NFTs later on but you actually don’t need to put money down for one right now as there’s an ongoing Dragontar Airdrop happening all over our socials!
It’s free to join, and if you’ve got a legion of hungry gamer friends eager to get their hands on the next big thing in gaming, you could guarantee yourself a limited edition Dragontar!
Want to participate in the Dragontar Airdrop? Go on right ahead and read about all the details in this blog post.
Questions? Comments? Join the conversation on Cradles social media and get the latest updates!
Cradles Official Forum: https://forum.cradles.io/
Telegram Group: https://t.me/cradles_official_group
Telegram Channel: https://t.me/cradles_official