Kongregate, a video game publisher and gaming portal, will launch a platform for NFT games later this year.
The NFT game platform will be called Kongregate.io, according to multiple reports.
"When we started this journey, we wanted to learn if the users were enthusiastic at all about NFTs, and we could see that they were," Kongregate CEO and Chief Financial Officer Markus Lipp said in an interview, as quoted by a report by VentureBeat.
Lipp also said that Kongregate's focus has been on learning instead of monetizing.
Kongregate to Launch NFT Games Platform Kongregate.io
Kongregate will launch Kongregate.io later this year as an open beta, according to the report by VentureBeat.
Per the report, Kongregate.io uses the end-to-end blockchain platform of Forte. Forte's blockchain platform "enables game developers to easily build and scale token-based economies safely, securely, and with full regulatory compliance."
NFTs that are inspired by the game publisher's titles are also currently available on the Kongregate.io website. These NFTs include those of "Bit Heroes" and 2D battle royal game "Surviv.io."
A "Kongpanion" NFT is likewise available on Kongregate.io.
What is an NFT?
For those unfamiliar with NFT, NFT stands for "non-fungible token." The fact that a token is non-fungible means that its value is unique and that the token cannot be traded for another token of equal value.
NFTs, similarly to cryptocurrency, operate on a blockchain, like that of Ethereum. NFTs can be anything digital and have come in forms such as digital art, collectibles, music, designer sneakers, and many more.
An example of NFTs is a collection sold by a 12-year-old boy from London named Benyamin Ahmed. His NFT collection is called Weird Whales and earned him more than $160,000.
What are Examples of NFT Games?
NFT games have also risen in popularity as of late given the fact that players can enjoy gaming while earning cryptocurrency at the same time.
A popular example of an NFT game is "Axie Infinity." "Axie Infinity" is an online game where players get to collect, raise, breed, trade, and even battle the game's digital pets, which are known as axies.
The most expensive "Axie Infinity" token, Angel, sold for $131,970.
Other examples of NFT games include "CrytoKitties," "Gods Unchained," and "Evolution Land."
What is Kongregate?
The latest to venture into NFT games with its Kongregate.io NFT gaming platform, Kongregate is a video game publisher and web gaming portal that was acquired by Modern Times Group in 2017. Kongregate is known as the publisher of "AdVenture Capitalist" on iOS.
Kongregate features over 100,000 games on its website, including "Bit Heroes," "Bloons TD 5," and "Animation Throwdown." It also has more than 30 mobile games.
The company's future, however, seems to be veering away from video game publishing.
"We have a strong focus on building new intellectual property games." the Kongregate CEO was quoted to have said in the VentureBeat report. Lipp said that he cannot speak about these games just yet, but added that the company has scored game licenses.
This article is owned by Tech Times
Written by Isabella James