NFT Gaming Consoles?

Hey readers, thanks for joining us on the latest edition of Morning NFTea. We have some interesting stories from NFT consoles to NFT tickets, so lets get into it!

Ripple XRP NFTs

We recently covered how Cardano has launched NFTs on its blockchain, and how Solana has had dramatic growth in its NFTs. Well now there is about to be even more competition as Ripple has partnered with the CrossTower marketplace for its XRP Ledger minted NFTs. Ripple is a global money transfer network designed to serve the financial services industry for trustless, instant, and cheap cross-border movements. Built on the XRP cryptocurrency token, Ripple’s XRP Ledger (XRPL) is a low-cost and carbon-neutral blockchain with the 7th largest crypto market cap edging out Cardano and Solana. Ripple recently launched a $250 million fund to help NFT developers, and now the partnership with CrossTower is set to accelerate these new NFTs. CrossTower is a Web3.0 exchange, which supports developers with infrastructure for wallets, payments, and even liquidity support for accelerating time-to-market for new NFT projects, enabling a new wave of creators to build XRPL NFTs. It can be a bit daunting with multiple blockchains now hosting NFTs, which will be the winner? It's important to remember there doesn't have to be a winning blockchain; different blockchains try to target different goals, and NFTs utility may require the use of these different blockchains.

NFT Gaming Console

It's no secret that NFTs are being used to develop play-to-earn (P2E) games for the next generation of gaming, so it only makes sense that it was a matter of time until we had an ‘NFT games console’, and now it's here. The Web3.0 company Polium has launched the ‘Polium One’ which will be the world's first multi-chain gaming console that will be capable of running games built on different blockchains. Polium claims “The console will be powerful enough to run high-performance games and will be easy to use for a traditional gamer who doesn’t understand Web 3”. The console is set to release in Q3 2024, and in true NFT fashion, it will only be available to pre-order by holders of the 10k ‘Polium Pass’ NFT. It's got some nifty tricks under its belt, such as a fingerprint scanner on the controller for secure access to the console's multi-chain hardware wallet. There are no confirmed games yet, but with the amount of money being poured into P2E games such as the recent $500 million investment by Immutable X, that shouldn't be a problem when looking long term. On the back of the HTC Metaverse phone, this console shows yet another piece of real-world hardware that is being modified to support a Web3.0 future. It will be exciting to see what comes next!

GameStop Launches Its NFT Marketplace

It wasn't too long ago when we covered GameStop announcing a dive into NFTs, and now it has opened its public beta to the GameStop NFT marketplace. They also launched a new GameStop Wallet to manage your digital assets, but there's support for options like MetaMask. At the moment, if you have a browse through its 236 NFT collections, it just looks like any other NFT marketplace, but in a press release, GameStop said there are plans to “expand functionality” into areas like Web3 gaming. It's worth noting that GameStop has a partnership with Immutable X which is a Layer-2 platform on Ethereum built for NFT games, so it's possible we will soon see GameStop NFT as the home for buying and selling your Web3.0 games digital inventory. Play-to-earn games are a great example of how NFTs are utilized in different ways, which may require purpose-built infrastructure, such as a marketplace for Web3.0 gaming.

60 ETH Football Tickets

Paris Saint-German football club, home to the 2nd highest paid footballer Lionel Messi (£960,000 a week), and highest-paid footballer Kylian Mbappe (£1,000,000 a week) has now released some NFT tickets to match, at around 60 ETH. Specifically, they are offering commemorative NFTs and NFT tickets for the club's first tour of Japan in 27 years. There are set to be three NFT tickets for each of the three Japanese matches, with access to the exclusive VIP area and the player's VIP party. The commemorative NFTs are much less exciting as they are set to just highlight the significant events from the club's trip through Japan with videos and photos. With such a high-value ‘ticket’, it only makes sense that it has become an NFT so that its ownership is unquestionable. As we are used to NFTs being an avenue for sceptical investing, this story shows how NFTs are starting to be used for the intrinsic value of the technology, and I’m sure we will see many more stories like this to follow.

Thank you for popping by, have a great next couple of days and we will see you on the next edition of Morning NFTea!

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None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.