NFTs backed by real-world items: The new gold standard in AI-based gaming?
The NFT market is continually evolving — and there’s one intriguing trend that’s enhancing their utility even further: tying digital assets to real-world items.
Some applications have been more tongue-in-cheek than others. Charmin got in on the action by transforming toilet rolls into digital art, accompanied by a physical display that could become the centerpiece in the owner’s bathroom.
On the other end of the spectrum, CryptoPunk holders were given the chance to transform their avatars into bespoke Tiffany & Co. pendants, in which a small number of nonfungible tokens were sold that entitled the owner to an exclusive piece of physical jewelry, which sold out in a blink.
Linking NFTs to rare collectibles can also have advantages. Vintage bottles of Japanese whiskey recently made the leap, with tokens verifying authenticity and ownership. Under this model, luxury items can be held in a secure environment, and owners can use their digital assets to redeem them at a later date. This ensures there’s much less chance of accidentally breaking a $75,000 bottle or spontaneously opening it on a Saturday night.
We’ve even seen how nonfungible tokens are being used to spark a discussion about the future of art. Legendary artist Damien Hirst famously created The Currency — a collection of 10,000 pieces. Owners were given a choice: they could either keep the artwork as an NFT, or exchange it for a physical painting. There was a catch, however: choosing the crypto collectible meant its real-world counterpart would be destroyed forever. Overall, 4,851 were (literally) burned.
Now, an NFT game is taking this concept to a whole new level, and offering a twist on the play-to-earn genre. The Fruits Eco-Blockchain Project says it plans to give
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