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What is blockchain gaming?
Blockchain gaming, also referred to as NFT (non-fungible token) gaming, is the application of blockchain technology to gaming. This can take several forms, which are not mutually exclusive. First, tokens can be used in “play-to-earn” models that incent players to stay engaged, keep playing, and make progress. For instance, players may buy into a virtual economy and use their assets to earn more in-game crypto tokens that can be exchanged for real money. Another model is the use of NFTs to facilitate ownership of in-game items (e.g. swords). With NFTs, publishers hope to enable gamers to retain ownership of items, sell them to other gamers, and even transfer them between games. Players can garner real-world value from their investment in a game, and publishers can see network effects that encourage game adoption.