NFTs, the Metaverse, and Gaming: Where Are We Now and Where Are We Going?

NFTs, or ‘non-fungible tokens’, are digital records of ownership that exist on a blockchain. The highest offer for the NFT on OpenSea as of late June stands at just 2 ETH, which is still a long way off from the initial asking price of $48 million. Goldman Sachs likened NFT auctions to the sale of rare Pokémon cards, complete with comparisons to the hard-to-predict fluctuations in price. NFT-based property rights on the blockchain have been seized upon by the blockchain gaming industry which creates digital in-game items in NFT form.