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As much as 2017 was the year of initial coin offerings and 2020 was the year of decentralized applications, 2021 is considered the year of NFTs.To understand what these NFTs are, you will need to understand the concept of fungibility.What is Fungibility?Fungibility is the possibility of an asset being exchanged for another similar asset without any change in value.

Although those two notes might not be the same, there is no change in value.Mainstream crypto coins like bitcoin are also considered fungible as they can be exchanged and broken down into smaller constituents and sold in parts.Non-fungible tokens, on the other hand, are unique and cannot be broken down into smaller parts.

However, one of the most prominent applications of the NFT is in the world of video games.A Brief History of Blockchain and Video GamesVideo games have been existing for a long time even before the Super Mario Brothers became a global hit.

This prompted the same game company to collaborate with the NBA and they created a new game called NBA Top Shot.

It was a game where basketball fans can buy and sell memorable video clips called “Moments” from the last season’s games.

It has been estimated that the total value of all the transactions on this game reached over $370 million.The Applications of NFTs in GamingThere are a lot of ways in which NFTs can manifest themselves in the blockchain gaming world.There are certain NFTs called branded NFTs that are digital representatives of traditional collectibles.

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