Non-fungible token (NFT) marketplaces are increasingly changing the way creative assets including art, media and entertainment can be auctioned or traded on a digital platform. With a bid to diversify the NFT ecosystem, companies are now exploring play-to-earn games, which are gradually piquing the interest of Indian gamers and crypto experts. In addition to Facebook, Microsoft, Roblox, Tencent, Epic Games and Animoca Brands are some of the many companies that are already exploring the NFT gaming space.

First, a little background. What even is an ‘NFT’? “‘Non-fungible’ means that it’s unique and can’t be replaced. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing,” explains Parth Chadha, founder of EWar Games. The prospects of this unique, irreplaceable collectibles have inspired a number of celebrities, sports stars, and business giants to collaborate with platforms to launch their own NFTs in the form of movie posters, digital art, 3D avatars and other exclusive digital tokens.