Polyient Games’ Craig Russo Believes NFT Market To Represent One Of The “Most Attractive Opportuniti
Craig Russo, the Director of an investment firm and startup ecosystem Polyient Games, believes that the Non-Fungible Tokens (NFT) market has come to represent one of the “most attractive opportunities” across all digital assets, with immediate use cases already being found within the art, collectibles and even the gaming industries.
It has been reported that Russo explains that NFTs first captured the attention of the mainstream crypto community in 2017 with the launch of Ethereum (ETH) collectibles game, CryptoKitties.
However, Russo has said that as NFTs are emerging as a very popular blockchain trend in gaming, they are now also being used in the sports industry (ticketing), financial services, and as a way to sell and transfer property.
“One reason gamers are gravitating towards blockchain is that – unlike traditional games – blockchain environments permit players to gain true ownership of their in-game items. This means blockchain games, driven by non-fungible tokens (NFTs) and digital collectibles, are unlocking an entirely new economic system that enables gamers to earn real money while they play. Fueled by these applications, the collectibles market has reached $370 billion.”
Likewise, Russo states that they are also beginning to see NFTs emerge “as a standalone asset within decentralized finance (DeFi),” including lending and fractional trading, and companies within the industry such as Polyient Games are bullish on NFTs in DeFi.
.@polyientgames Craig Russo believes that the NFTs have come to represent one of the “most attractive opportunities” across digital assets https://t.co/SxEfhi1vPt — Cointelegraph (@Cointelegraph) July 26, 2020
“A lack of understanding about NFTs from both the public’s perspective as well as mainstream media is probably the biggest hurdle, but – based on the feedback we’ve gotten so far – we’re seeing more and more mainstream interest daily.”
Russo further stated that COVID-19 has altered how people interact, travel, communicate, work, and conduct business, but “it’s also reshaping the entire gaming industry.”
Thus, he concluded:
“This renewed passion for gaming has also caused a spike in gaming stocks. As people continue to social distance, this trend will continue. And – as players discover blockchain games, powered by NFTs and digital collectibles, which offer an entirely new, fully-immersive gaming experience – they will continue to embrace blockchain games.”