The main Solana-powered NFT platform Magic Eden is rolling out a brand new idea of a semi-fungible token (SFT) market in collaboration with Genopets, the move-to-earn NFT recreation.
A semi-fungible token permits Genopets players to commerce like-for-like in-game property in batches, whereas NFT presents buying and selling one-of-one gadgets, which ends up in a number of pointless transactions (and charges) in an try to commerce a number of in-game items directly.
The partnership will change into helpful for the Genopets crafting economic system, permitting customers to course of Crystals and Terraform Seeds by way of the Magic Eden market within the type of SFTs.
“Crystals are base layer supplies used for crafting different gadgets, whereas Terraform Seeds enable gamers to make aesthetic customization and efficiency upgrades to evolve their Genopets’ habitats,” Genopets customers clarify.
The brand new SFT market makes use of Serum’s agnostic orderbook to match property and facilitate transactions. It will make it potential to switch some web2 gaming mechanics rules like “stacking” to the blockchain. In just a few phrases, gamers will have the ability to stack their characters, clothes, weapons, and different alike merchandise collectively to commerce them as one SFT.
“We’re thrilled to work with Magic Eden to proceed pioneering the way forward for Web3 video games by being one of many first video games on Solana to roll out environment friendly token know-how and recreation mechanics that allow gamers to meaningfully create and transact worth,” Albert Chen, CEO, and Co-Founding father of Genopets commented on the partnership and SFTs.
Are you prepared to check the web2 mechanics in web3 gaming? The brand new SFT market by Magic Eden will empower extra top-tier web2 video games to switch their initiatives to the blockchain, in addition to different NFT marketplaces to SFT adoption.
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