It is my pleasure to submit this homework to Professor @imagen for the first week of the crypto academy. Prof. taught "NFT Games." And he he really did a very good job as the topic was well dealt with. At the end of the lecture, he gave four question as homework. The questions are:
- Describe in your own words the main Advantages and Disadvantages (Pros and Cons) of NFT Games in relation to other types of games.
- Name five (5) recognized characters: writers, artists, athletes or others, who have digitized their works (writings, publications, paintings, drawings, illustrations, etc.) to produce NFT. Please indicate the value of the NFT or the collection, show photos or images and cite sources.
- Choose one of the following games:
Describe in depth the selected game: founders or developers, launch date, objective of the game, operation, native token (price, market capitalization, position), availability in the various operating systems and any other relevant information. Show Screenshots.
- Show the complete process to acquire the tokens (it does not necessarily have to be the game selected in the previous question, as long as it is within the list provided). Indicate the platforms (wallets or exchanges) where it is available; the process for downloading, installing and configuring wallets or networks. Show Screenshots.
So, let's look at this question one after the other.
1. Describe in your own words the main Advantages and Disadvantages (Pros and Cons) of NFT Games in relation to other types of games
Advantages of NFT Games
NFT, non fungible tokens used in NFT games have been gaining ground recently because of its usefulness. This token allows and enables professionals artist, writers, actors etc. to monetize their works digitally. NFT earned in NFT games can therefore be traded and can also be converted to local currency (fiat money). Gamers can also hold these tokens.
Another advantages of NFT games is that, there's transparency compared to traditional games. NFT games employ blockchain technology which is immutable and very transparent. So, in essence, every gamer will see and can view what is going on themselves. Every data stored on the platform which they are using can be accessed by each gamer. Therefore, the issue of cheating is totally eradicated since nobody can keep anything.
There's availability of data or information in NFT games compared to other games. Blockchain is designed in such a way that one can access any information stored on it. In essence, if a player or gamer needs any kind of information, he can actually tap his computer, search the information he needs and he will view it. This is one of the advantages of NFT game. This means, information or data being stored on the blockchain can be accessed by the generations unborn.
NFT games is a type of game that's very secure. Because of the adoption of blockchain, there is a guarantee of security. It's also very realiable because nobody will penetrate through the gamer's account unless the gamer reveals his keys. Keys are like password which blockchain employs which is one of the things that make it a very secure platform to use.
In addition, gamers have full control over their assets. Unlike other type of games where the gamers will depend on the organizers, and where sometimes the organizers may decide not to release their assets, gamers or players decide whatever they want to use their assets for, how to use it and all other things in NFT based gaming.
Another advantage, this is a plus on the owner or organizers side, is that, the owners generate revenue from the gamers. As the gamers invest or purchase the NFT, there will be amount of revenue going to the purse of the organizers. For example, the transaction fee etc. is the owner fee. Also, the adoption of blockchain technology by NFT based gaming platform will attract many players to their project, therefore increasing the income coming to the company and making NFT popular.
Disadvantages of NFT games
One of the very big problems of NFT earned in NFT based gaming is that, it is not interchangable. Hence, Non-fungible. When you earn token, you may want to convert it to another token, but it is impossible in NFT games because they are very unique and cannot be exchanged with other tokens.
Unlike other category of cryptocurrency or token, such as utility tokens, security tokens etc. which can be divided into smaller units, NFT cannot be divided. For example, bitcoins, a popular coin which have smallest division of satoshi, people who can't afford to buy 1 Bitcoin may invest on small amount by buying small satoshi. But this is not the case for NFT. Once you can't afford it, you can't buy it.
A gamer who has no knowledge may find it difficult to participate in NFT gaming. In essence, it requires little knowledge of blockchain technology before entering the realm of NFT games, otherwise the gamer may miss some important details which may end up in losing the acquired token.
It is also important to know that, the Keys, private and public needs to be stored and kept same. Once the keys are lost, the gamer will lose all acquired or earned NFT. It's not like conventional banks where you go and complain you can't withdraw your fund and they will help you retrify the error. Here, each gamer is the one controlling his account and must be very careful to keep his keys.
2. Name five (5) recognized characters: writers, artists, athletes or others, who have digitized their works (writings, publications, paintings, drawings, illustrations, etc.) to produce NFT. Please indicate the value of the NFT or the collection, show photos or images and cite sources.
1. Sarah Zucker
Sarah Zucker is an artist who is well known for creating VHS and analog-style digital art. Her first digital work minted on blockchain that earn her a large sum of NFT was put on SuperRare platform.
Let's see the image of Sarah Zucker below
Fig. 1: Picture of Sarah Zucker
Her first digitized work was sold for about $50. Her lastest art work which is placed on SuperRare platform is licky loaf which worth $81, 637. See the screenshot below.
Fig. 2: Latest Art work of Sarah Zucker – Licky Loaf
2. Matt Kane
Another person who has digitized his work is Matt Kane. He first sold out painting. Later he moved to digitize crypto arts in early 2019. In that year, he was able to sell his collection for a price worth about $1,000. Below is the image of Matt Kane.
Fig. 3: Picture of Matt Kane
Let's see one of the Kane' work. He created the art called "In Memoriam George Floyd" and sold it. Research shows that he donated all what he earned from the art to a non profit organization called Campaign Zero. See the art below.
Fig. 4: Matt Kane's Art Work
3. Marguerite deCourcelle
deCourcelle is popular because of his unique work of art. One of her work that made her popular is her pastel oil painting that she used to create puzzles.
DeCourcelle created blockchain based games as a result of a technology called cryptokitties that was launched in 2017. This game allows participants or gamers to earn NFT.
Let's see one of deCourcelle works which she sold and has generated income of about $195,000
Fig. 5: deCourcelle's Art Work
4. Kode Adobo
Kode Adobo is known for his graphic design and artwork. His also known as bosslogic. He has sold about 1,148 NFTs which worth about $4,087.08.
Kode Adobo just partnered with a popular man known as Francis Ngannou, which is known as heavyweight in UFC. Kode partnered with him to create a special event NFT. This has to do with a championship UFC 260 that is coming up. The screenshot below shows one of the art work mixed by Kode Adobo.
Fig. 6: deCourcelle's Art Work
As it can be seen seeing figure 6 above, that is one of the art works created for the event. That screenshot shows that a collector has been seen for that artwork and was sold for $22,087.22
5. Antoni Tudisco
Antoni Tudisco is popular for his work of art directing and 3D illustrating. He has worked for many popular brands such as Apple, Nike, Puma etc. Coming to the realm of NFT, Tudisco has sold more than a thousand pieces of his work which Worth's thousand of dollars.
He currently launched his studio and called it Tudisco studio.
Let's see one of his work in the screenshot below.
Fig. 7: Tudisco's Art Work
3. Choose one of the following games: •MyDefiPet •Mist •CryptoBlades •Dragonary •WavesDuck. Describe in depth the selected game: founders or developers, launch date, objective of the game, operation, native token (price, market capitalization, position), availability in the various operating systems and any other relevant information. Show Screenshots.
Definition of My Defi Pet
MyDefipet is a mobile game which uses NFT collectibles. My Defi Pet is a combination of architecture of traditional game with knowledge distributed ledger technology and decentralized finance, Defi.
History and Background
The game, MyDefipet was launched in May, 2021. This game was launched through a platform called KardianChain, which is known as the first decentralized and self-optimizied blockchain based in the city of How Chi Minh, Vietnam. KardianChain is a blockchain platform which help all other blockchains by connecting them together. The main purpose of KardianChain is to provide a lasting solution to the fragmentation issues in the old or existing blockchains, an thereby making the adoption of blockchain increase as result of their platform which employs combination of participants strength.
The head of the team behind the creation of the platform of this game, which is also the current CEO, is Tri Pham. This man, Pham is the one who takes the lead right from the time of conceptualization, the birth of the idea, the creation of the project and the time of launch of the project. He's also known as the co-founder and CEO of KardianChain, the platform through which My Defi Pet was launched and placed. Below is the image of Tri Pham
Fig. 8: Picture of Tri Pham
Liem Thai is one the members of the team and is the game creator. Anh Tran, the game developer worked directly with Liem Thai. Tommy Le is the game marketer; Tiep Vu is the game growth hacker and John Huyis the chief business officer.
In April, 2021, My Defi Pet IDO was held and the DPET token was sold and listed on different exchange platform such as PancakeSwap, Uniswap, Kickpad etc. Many of the popular company and individuals I on the project. Some of them are , ConsensusLab, Clovers Ventures, Spark Digital Capital, Animoca, etc.
The Main objective for creating the game is to create a platform for people where they can play a unique game which will give them maximum satisfaction and while they not only derive happiness but also maximize the opportunity to invest in the asset, the token which they profit from and earn reward from their play.
Operation of My Defi Pet
My Defi Pet game has various features and many things which will keep gamers or players interested in the game. The game play has things like mission and events which will keep the player active.
My Defi Pet is an online game which is not required to download app. All the players need is to go to the main website, MyDefipet.com, create an account and link their BSC wallet. In essence, the first thing to do if you want to have access to play the game is,
• Visit the official website of MyDefipet, mydefipet.com.
• Create an account with them
• Then link a BSC wallet
Once you complete that, then the next thing is to get monster. Because without monster, one cannot have access to the game. Monsters are bought from the pet store using DEPT.
Then, after buying the pet monster, gamers need to build the rank of the pet monster and also their own ranking. This also actually done by cultivating vegetables and fruit which the monster needs to be feed with.
Also, more species of this monster can be bred to increase or grow the user's or player's collection. However, players can also get more eggs from the pet store, depending on their choice on how to grow their collection quickly. But the two methods are effective ways to grow players collection. Any method the play choose, he can keep on repeating it, and as he does, the monster will increase and grow more in strength for the purpose of missions.
In my Defi Pet, there are three ways players can earn from the game.
The first one is by selling their DPET. When players or gamers participate in missions by taking their pets monster to fight other pets and win the fight, they can sell the reward earned from the fight through exchange platforms.
The second way is through auction. Auction is a public sale of your pet monsters which you have fed and bred. Players can make maximum profit and generate increase if they have bred their pet monsters very well, especially if they are known to be agile and strong.
The last way is through what is called "developer's season reward." This method or way require some specific guidelines which you must follow anytime developers organize the season reward.
Thanks native token of my Defi Pet I known as DPET. It is the token which is used generally on the My Defi Pet. The token is used for trading. It is also used to buy pet monster from the pet store.
DPET is listed on many exchange platforms. Below is the screenshot showing some of these platforms.
Fig. 9: Some of the Exchange Platforms in which DPET is listed | coinmarketcap.com
Another important factor of this token is that, gamers can lock in their DPET so as to make more and enough voting power, and thereby granting them better chances to acquire more rewards. The main purpose of using the token in the system I to allow smooth and easy transaction on the system.
As at the time of writing this article (9th September, 2021) DPET is ranked number 649 and the price is $4.55 with a market capitalization of $31, 275, 996 and volume of $4, 434, 213. Let's see the screenshot below to view these details by coinmarketcap.
Fig. 10: DPET Rank, Price, Market cap, volume etc by CMC | coinmarketcap.com
4. Show the complete process to acquire the tokens (it does not necessarily have to be the game selected in the previous question, as long as it is within the list provided). Indicate the platforms (wallets or exchanges) where it is available; the process for downloading, installing and configuring wallets or networks. Show Screenshots
DPET token can be purchased on any of fiat to crypto exchange platforms. Remember, I said above that DPET is listed on the platforms such as, Kuicoin, gate.io Pancakeswap, etc. Lne can actually use of the platforms and send his token to there.
It is pertinent to know that you can't buy DPET directly with your local currency. However, you can acquire a cryptocurrency like USDT on a fiat to crypto exchange platform and then transfer the coin to exchange where DPET is listed.
In essence to acquire DPET, follow the steps listed and vividly explained below.
The first step is to register on fiat-crypto exchange platform.
There are many fiat-crypto exchange platforms. In this article, I will use coinbase exchange platform. The purpose of registering on the platform is to buy USDT. Coinbase exchange platforms have their policy and rules which you must agree to if you want to use their platform.
Now, type "coinbase sign up"on google or go to www.coinbase.com. Upon typing it on google, it will show you the sign up link. Click on it and it will take you to sign up page.
Fig. 10: Typing "Sign up on Coinbase" | google.com
Once you click on it, you will see right I'm your front a new page. You will be asked to provide your name email and password. Provide them, and make sure you use correct email, because you will be verified and click on agree and click on "create account"
Fig. 11: Coinbase Sign up Page | coinbase.com
Upon entering all the required details and clicking on the "create account" a mail will be sent to your email address. You are required to verify the mail. Check your email and click on "verify"
Fig. 12: Coinbase Email Verification | gmail
Then your account is ready once you verify your email and enter the code sent to your mobile number as another means of verification.
Fig. 13: Coinbase Homepage | coinbase.com
Then, we are done with registration. Let's quickly see how to buy USDT. this will lead us to step 2.
Buy USDT with your local currency
It's important to complete KYC verification if you will buy and sell crypto on coinbase. The verification is simple. You will need valid means of identification. Then once your KFC is verified, you will be asked to provide method of payment. You can use credit/debit card or bank transfer depending on your choice.
To start trading, click on "trade" at the left side of the website. See the screenshot below.
Fig. 14: Coinbase Trade features | coinbase.com
In the screenshot above, you can see "let's go" showing, click on it. It will show if that your first time to trade. You can actually trade any crypto listed on the coinbase, you can sell and buy crypto.
So, buy USD with your local currency. Remember you must have add method of payment you want to be using. Then once you buy USDT, you will see it reflecting on the "spot section"
The next step is to transfer the USDT you purchased on coinbase to an altcoin exchange.
Remember, I mentioned some altcoin exchange platforms where DPET is listed. DPET is an altcoin, and so we would have to transfer our USDT we purchase to one of these altcoin exchange platforms. Here, we are going to use gate.io
To transfer USDT to gate.io, you first need to create an account with exchange platform just as we did for coinbase.
Now, type "sign up on gate.io" on Google. Upon typing it, it will bring for you a clickable link which can direct you to the sign up page.
Fig. 15: Typing "Sign up on gate.io" | google.com
Upon clicking on sign up, a page will appear right in your front where you will be asked to provide your region/country, username, email and password. Then click on "next"
Fig. 16: Gate.io sign up page | gate.io
Upon clicking on next, a page will be shown for you where you will need to set your "fund password." This password must be totally different from the password you entered previously, log in password. Choose your password and click on "create account."
Fig. 17: Gate.io sign up page (Fund Password Tab) | gate.io
Upon clicking on "create account," a page will be shown for you that your account has been created and that an email has been sent to your mail to verify.
Fig. 18: "Account Creation successfully" message | gate.io
Then next thing is to go to your email address and verify your account by clicking on the link sent to you by gate.io.
Fig. 19: Email verification | gmail.com
Once you click on the link, your account will be verified; you can now log in with your username and your log in password. After providing your username and password, click on "login"
Fig. 20: Log in Tab | gate.io
Upon clicking on "login", a page will be shown for you to complete "anti-phisphing verification." Once the URL on your phone matches one of the ones provide in the screenshot below, click on "confirm."
Fig. 21: Anti-phisphing verification | gate.io
Upon clicking on "confirm", a six digit code will be sent to your email. Go to your email, copy the code and input it in the box provided. Once you input, a new page will load to the homepage.
Fig. 22: Anti-phisphing verification (Code entering Page) | gate.io
Then, as Soo as the page loads, it will show the homepage of gate.io that you have logged in.
Fig. 23: Gate.io homepage after logging | gate.io
The next step is go and copy the USDT wallet address on gate.io which where you want to transfer your bought USDT on coinbase to.
To do this, click on "trade" on the homepage of gate.io. Once you click on it, some features will appear, click on "spot trading."
Fig. 24: Gate.io trade feature | gate.io
Once you click on "spot trade," you will see a list of cryptocurrencies. Click on USDT, and click on deposit to go copy the wallet address.
Fig. 25: USDT Deposit Section | gate.io
In the figure above, you can see that, deposit tips is listed, you can read and know this. Then a new address is being generating already. Once generated, copy this. This is the address you will send your USDT you bought in coinbase to.
Now, the next thing is go back to coinbase to transfer your USDT.
To do this, click on the USDT asset on coinbase, click on send
Fig. 26: USDT Trade (Send/Receive) | coinbase.com
Then, once you click on send, paste the wallet you copies from gateio and enter amount you want to send then click on send.
The last step is to trade the USDT sent from coinbase for DPET
Then, USDT should appear on the exchange platform, gateio. You can now trade USDT for DPET.
To do this, go back to gate.io and look for trade at the top of the page. Click on it. And once you click on it, you will see "spot" to exchange your USDT with DEPT. At the right top of the page, a provision is made for searching. Type DEPTUSDT. Then, you will see it appear.
Fig. 27: Searching for DPET/USDT | gate.io
Once it appears, click on it. Upon clicking on it, you will see where you can actually buy DPET with USDT. You can also sell your DPET for USDT, depending on what you want to do at the particular time. But this time around, we want to buy DPET with our USDT. So we input the amount we want to buy and click on buy.
Fig. 28: Buying DPET with USDT | gate.io
Non fungible tokens have been gaining ground recently. People are now adopting the use of the token because of its usefulness. For example, the token is used in virtual gaming. There are many NFT games which people can play and earn NFTs.
People are adpoting NFT games because they have control over their tokens, unlike traditional or conventional way of gaming where gamers don't have influence on the token earned. It's also gaining more ground because it is transparent since it built on blockchain.
The adoption of NFT games has not only lead to increase in the number of players or gamers but has also lead to increase in revenue for the organizers and has left to more adoption of blockchain technology. This is a sign that blockchain technology would be adopted and employed on every aspect of life in future.
Thanks to Professor @imagen for bringing up this course at a time like this. I must confess that I have really learnt more than I expected. I have been able to explore different NFT game website, especially the game I chose, My Defi Pet, which is one of the most popular NFT games.
CC : @imagen
Written by @msquaretk