SAN FRANCISCO (PRWEB) February 13, 2023
Today Game7, a Web3 gaming DAO, and Moonstream.to, a startup building economic infrastructure for Web3 games, announce NFT Inventory, an open-source NFT standard to enable previously unavailable Web3 gaming use cases.
“The current state of smart contracts run more like Steam achievements that are attached to your wallet or player-level account,” says Ronen Kirsh, Game7 Core Contributor. “With NFT Inventory, we’re shifting it to the character level, which opens a plethora of creative opportunities for billions of people playing games today.”
NFT Inventory relieves some of the most pressing concerns with smart contract development as identified in Game7’s Web3 Game Developer Report. NFT Inventory operates as an on-chain tracking system capable of handling traditional gaming use cases so far unresolved by Web3. It's also designed to provide Web2 game devs with the tools they need to move their in-game (off-chain) inventory system, hit points, experience points, and more, on-chain.
The standard allows game developers to expand their games without having to run complex smart contract upgrades, implement error-prone DNA systems, and make drastic changes to their game servers.
“NFT Inventory puts power back into the hands of real gamers. It makes the value of their characters proportional to the skills they develop in the game,” says Neeraj Kashyap, founder and CEO of Moonstream.to.
Right now player achievements are associated with player’s wallets, and their NFT character’s value depends mainly on the game’s success and popularity with other players. NFT Inventory allows game designers to define in-game assets that are owned by the player’s NFT Character, not by the player’s wallet.
The inventory can hold ERC-1155 (weapons, armors, potions), ERC-721 (unique badges, special titles, player class), and ERC-20(gold, xp, etc) tokens, all of which can be combined together using an on-chain crafting system through the use of "recipes" and tied to the character.
In turn, NFTs gain not only monetary value, but also in-game value, making the NFT items soulbound to the avatar NFT, rather than the user’s wallet.
NFT Inventory is open source and free to the public. The NFT Inventory smart contract can be found on GitHub.For more information, please contact email@example.com
Game7 is a Web3 Gaming DAO created to accelerate the adoption of blockchain-enabled game economies, with a treasury with $500m in capital committed by BitDAO and Forte. The Game7 community will help shape capital allocation decisions, define gaming standards, and fund open-source software. Game7's mission is to make the future of GameFi business models sustainable by ensuring the interests of players and developers are aligned.
Visit https://game7.io/ to learn more.
Follow on Twitter @G7_DAO
Moonstream.to builds open source technology to make web3 games sustainable. Games that run on Moonstream’s economic infrastructure have tens of thousands of players. Moonstream.to has supported over $4B in transaction volume to date. Web3 data analytics, currency sinks, item tokens, consumables, minigames, leaderboards, security bots are some of the tools that Moonstream.to provides.
Visit http://www.moonstream.to to learn more.
Follow on Twitter @Moonstreamio