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Introduction
A non-Fungible token (NFT) is a unit of data in a digital ledger called a blockchain, where each NFT can represent a unique digital item and is therefore not interchangeable. NFTs can represent digital ¬les such as art, audio, video, and other forms of creative work. While the digital ¬les themselves are innately reproducible, the NFTs representing them are tracked on the underlying blockchains and provide proof of ownership to the recipients.
The global online gaming market is a fast-growing industry expected to reach a total value of USD 87.75 billion by 2024. It is a highly profitable and scalable business that will keep growing rapidly at an expected compound annual 01 The global online gaming market is a fast-growing industry expected to reach a growth rate (CAGR) of 9.8% in the upcoming five years.
The Play to earn model is fairly new and puts crypto games an innovative spin on traditional video gaming; they allowplayers to earn in-game cryptocurrencies by winning battles, completing levels, and renting out or selling their assets.
Anyone with an internet-connected device can access online gaming. Each day, about 1 million new internet users come online. Further increasing the number of potential online gamers,there are still 3.2 billion peoplewho lack internet access, allowing this growth trend to continue well into the future.
Last modified 7mo ago