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NFT Craze Exhausted? Blockchain Gaming Platforms Turn to Physical Collectibles

CryptocurrencyApr 23, 2021 05:30AM ET
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NFT Craze Exhausted? Blockchain Gaming Platforms Turn to Physical Collectibles

  • Blockchain gaming platforms are turning to physical collectibles alongside NFTs
  • Physical collectibles provide unique tangible items to represent the NFT
  • REVV Motorsport recently introduced limited edition physical timepieces that come with a Watch NFT and a REVV Value token
  • In March, Brave and Gala Games unveiled a BAT (LON:BATS) Tournament in Town Star, for physical collectibles, with more than 3,500 participants
  • NFT platform, Digible, provides services for NFTs and physical collectibles

Non-fungible tokens (NFTs) took the crypto space by storm in 2021, with one major sale after another; Beeple’s enormous $69 million sale was one of the most publicized. According to the data records, NFTs now have an overall market capitalization of $26,793,451,648.

Blockchain gaming platforms are answering the question “is the NFT craze exhausted?” with physical collectibles.

What Are Physical Collectibles?

While NFTs provide owners with a unique digital collectible for purchases, physical collectibles provide a tangible item alongside the digital collectible.

Physical collectibles are much like physical Bitcoins or “Casascius coins”; physical metal coins created by Bitcoin user Casascius. They were introduced in September 2011 and sold until November 26, 2013.

Physical collectibles are becoming popular at a time when people are beginning to question the value of NFT collectibles. Some of the physical collectibles making rounds are:

REVV Motorsport

In a partnership with UNDONE, REVV Motorsport has introduced limited edition physical timepieces. The beautiful and exclusive precision watches are available in three versions: Noir (black), Gilt (gold), and Blanc (steel).

Each of these watches will come with a Watch NFT and a REVV Value token. According to the announcement, the NFT watch will be redeemable for REVV tokens or credit on the REVV Motorsport platform. Although the date for the sale is yet to be set, REVV has promised that more exciting changes will be made.

Producers of the physical collectible watches, REVV Motorsport is also a blockchain gaming platform for motorsport brands. The platform aims at bringing together the best of the motorsport world and connecting them with the REVV token.

The REVV token is currently the main utility token and in-game currency of the branded motorsports games produced by Animoca Brands, creators of F1 Delta Time and MotoGP Ignition.

Brave and Gala Games

In March, Brave and Gala Games unveiled a BAT Tournament in Town Star. The tournament was a blockchain-based agricultural simulation game on the Gala Games platform.

The tournament was hugely successful, with more than 3,500 participants and approximately $5,000 worth of BAT in prizes. Later in the month, the partnership unveiled their second physical NFT collectible.

The Farm Bot Pickaxe Physical NFT began retailing for $250 on April 1st. The Farm Bot NFT is a polished, crystal sculpture featuring a laser-engraved Town Star Farm Bot holding its pickaxe.

On the Flipside

  • As the prices of NFTs soar, experts warn of an unsustainable bubble
  • In talking about the price of NFTs, Michael Moses, founder of the auction database Mei-Moses, noted that he finds “the shift to fractionation disturbing”
  • Moses suggested that the ways NFTs are handled like a game means “You have no idea of ​​the real value of the work.”

Digible

Another emerging physical NFT platform is Digible. However, Digible has an interesting twist. Digible features the best of two worlds combined; rare physical collectible cards and NFTs.

On the Digible marketplace, individuals can sell, buy, or auction physical game cards held by merchants. Each card will take the form of an NFT. Also within the same ecosystem, merchants can sell or access a wide variety of NFTs that are not backed by any physical cards.

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NFT Craze Exhausted? Blockchain Gaming Platforms Turn to Physical Collectibles
 

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