Last year, GameFi made a breakthrough. Although it is still in its early stages, we see that there are many successful uses for NFT standards in GameFi, although there are some limitations.
There will be a common NFT standard that can be used across all blockchains
Currently, while ERC-721 and ERC-1155 are widely used in BNB Chain, Ethereum, and other EVM-compatible blockchains, they cannot be used in other non-EVM blockchains such as Solana, and vice versa. In other words, NFT blockchain standards other than EVM are also inapplicable in BNB Chain, Ethereum and other EVM-compatible blockchains. This has limited the free flow of gamified NFT cross networking.
Joe believes that in the future the metaworld will become a world similar to “First Player Standby” and “Protagonist in Chief.” Players will access the virtual world with their avatars and explore the world with various game assets. Game assets will be freely shared across networks.
“Once this is achieved, there will be common NFT standards that can be used across all networks and they will allow for the free transfer of in-game items. It will and should happen.”
NFT will become user-friendly and easy to use
NFT still has a lot of room to grow in order to achieve mass adoption. One major reason is that their use and transfer methods are still very complicated for the general public.
Joe hopes that this problem can be solved in the next 3-5 years.
“Many projects are trying to solve these problems. For example, SafePal, a cryptocurrency wallet company, provides a ‘starter pack’ solution. The starter pack has tokens from selected GameFi, meta-universe projects, etc.”
NFT can store game items
NFT currently has limited metadata storage. Owners’ digital items are not stored in NFT, but are stored on external servers. NFT’s metadata only has a URI that refers to the location of the digital assets. The digital items are stored “offline.” This can lead to security problems, if the server where the digital assets are stored is down, the digital assets can be lost forever.
However, with the development of blockchain infrastructure and the development of NFT, it is believed that NFT storage can be improved to store digital items.
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