Enjin–a blockchain-chain based video game community and development platform, and Digital Entertainment Asset (DEA)–a Singapore-based entertainment platform allowing users to build websites, forums, or dApps for gamers, are joining hands to establish the first of the kind NFT Awards to showcase curated “nifties” use case to the mainstream audience as per a press release on Sep 17.
A Panel Member of the 2020 NFT Awards Will Include a Former Sony Executive
The adjudicating panel of the 2020 NFT Awards scheduled for live streaming on Dec 9 will include the former Sony CEO and Chairman Nobuyuki Idei, and a team member leading Microsoft’s Azure Heroes NFT rewards program—done in collaboration with Enjin.
Notably, the inclusion of Sony’s former chairman, given his vast experience as the head of the multi-billion organization and a leader in the supply of gaming material, showcase how non-fungible tokens are gaining traction and currently under-exploited.
In 2019, the Japanese tech giant approved the first Ethereum-based PS4 game called Plague Hunters.
A development by Arcade Distillery, the game is a sequel of the popular Plague Road. Through the open Ethereum blockchain, players could exchange items from a marketplace without giving up ownership of their assets.
What are Non-Fungible Tokens (NFTs)?
Non-Fungible Tokens (NFTs) or simply “nifties” are as the name suggests. These tokens are not-interchangeable and each has a unique trait that differentiates it from the other. NFT tokens can therefore not be copied or replaced with something else.
Within the Ethereum ecosystem, they comply with the ERC-721, or the ERC-1155—as in the case with Enjin– standards where they find utility in gaming, art, collectible transactions, and in many other areas demand uniqueness and originality.
The ERC-1155 standard which was developed by Enjin’s CTO allowed the minting on fungible and non-fungible tokens in the same transaction.
With creativity allowance in both Enjin and DEA, their mutual collaboration will help augment the quality of NFT assets and the interaction of separate disparate items.
In July, Enjin partnered with Aave to bring DeFi to gaming in a deal that will see players increase their in-game ENJ earnings via the Aave protocol.
Enjin also partnered with SwissBorg as per as report. The collaboration will see ENJ added to the SwissBorg Wealth App.