Investing in Animoca brands and NFTs: rare digital assets imposed by cryptography
Cypherpunk Holdings is an early pioneer in the crypto and privacy investment space. The company is used to investing in emerging trends and technologies surrounding crypto. This includes our C $ 2 million investment in the non-fungible token platform, or NFT, Animoca Brands.
For hundreds of years, people have collected rare items such as paintings, cars, and coins, among others. This was done for emotional, aesthetic and economic value. Owning rare objects has always represented a status and gives a special feeling of exclusivity.
With the accelerating evolution of cryptographic technologies used in commerce, a new field of collectibles has emerged. This is known as non-fungible tokens, or NFTs. Built on cryptocurrency-based blockchain protocols, NFTs enforce the most important characteristics of collectibles – rarity, quantity limit, and uniqueness.
For example, a single NFT may represent a rare “tokenized” or cryptographically applied digital asset or a version of a real world asset. The authenticity and ownership of this tokenized asset can then be easily confirmed using the transparency that blockchain technology allows.
The term fungibility represents the interchangeability and uniqueness of an asset. For example, a $ 50 bill can be easily replaced with another $ 50 bill and most people cannot tell the difference.
TVNs are non-fungible. This means that a digital asset such as an art image could be easily drawn by another artist and also put on the blockchain. However, it will not be equivalent or interchangeable with the original in terms of ownership. This is because it is cryptographically secure and chain verified.
Among the many uses of NFTs, one area that shows tremendous promise for this innovation is gamification. In recent years, the video game industry has overtaken the combined film and music industries in terms of engagement. So the games are gamified with collectibles, some of which can be used in games, an innovation that has emerged in recent years.
Enter NFT, which opens up a whole new dynamic in the gaming industry. Before NFTs, players bought items but couldn’t trade or sell them anywhere, often not even in the game they were used in. . This often resulted in locked in value or even total financial loss when paying for these items after players shut down. play a particular game.
NFTs solve this problem by being easily transferable and tradable in a market. This encourages more people to buy in-game items with reduced risk of illiquidity. Also, increased utility of items that can be used in multiple games instead of just one. Additionally, NFTs can look like real life items. For example, many gamers dream of wearing game characters
their favorite shoe brand. This is because emotional attachment has always played a key role in the gaming community.
Due to Cypherpunk Holdings’ strong belief in cryptocurrency, privacy, and crypto technologies, which is why the company has become an investor in Animoca Brands.
Animoca is ranked by the Financial Times as one of High growth companies Asia Pacific2021. The company is an industry leader in digital entertainment, blockchain and gamification industries. Besides having well-known projects such as REVV and SAND tokens, he has invested and partnered with Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, Alien Worlds and others. Animoca also owns the intellectual property rights on Formula 1, Marvel, WWE, Power Rangers, MotoGP to develop in-game items.
Among many exciting things, one of the interesting developments is Animoca’s Celebrity Partnership SAND Project. This includes well-known international artists such as hip-hop impresario Snoop Dog. SAND, a game similar to Minecraft, allows players to build and interact in a virtual world. For example, they can buy land adjacent to Snoop Dog or attend his VIP parties. This offers them a unique opportunity to interact with celebrities in a virtual setting.
Cypherpunk Holdings is thrilled to be at the forefront of NFTs with Animoca Brands, a company that is the industry leader.
Cypherpunk Holdings Inc. published this content on September 30, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 30, 2021 05:51:04 PM UTC.