NFT as Our Virtual Digital Future. What Is It? How Can You Earn Money On It? What Cool Projects Already Exist in Ukraine?

You’ve probably already heard about NFTs, even if you haven’t specifically searched for information about it. For example, a photo of Viktor Medvedchuk, Vladimir Putin’s godfather and a traitor to Ukraine, dressed in the uniform of the Armed Forces of Ukraine in handcuffs, was turned into a pop-art collage and minted as an NFT. Medvedchuk in this form was put up for auction. The starting price is 0.1 Ethereum ($311). Online auctions will run until April 27th.
Specialists of the Kevuru Games studio have prepared a whole guide for NFTs on a global and local scale. We will tell you where it comes from, where it is used, why it causes such a buzz and what NFT projects have already been implemented by the studio.

NFT in a Nutshell

The term NFT is becoming more and more common. Game companies are actively using the opportunity to create NFT-oriented games, where players buy up game items three years before release. Art, music, and even memes in the form of NFTs are selling like hot cakes for crazy amounts. And many clutch their heads because they do not understand what on earth it is.
NFT is a non-fungible token: each instance of it is unique and cannot be exchanged or substituted for another token. In fact, such a token is a digital certificate stored in the blockchain and certifying ownership of a certain unique object.
NFT captures such components of digital items as owner, origin, authorship, transaction history, etc. The main value of NFT is that it is both a confirmation of the authenticity of an object and a method of securing ownership of it.
NFT technology was created in 2017 based on Ethereum smart contracts. And the first tangible piece of art turned into an NFT was a black-and-white work by artist Banksy called Morons. The digital asset was tied to the original, and the original itself was burned. It is quite a spectacular start to the triumphant march of NFT around the world, isn’t it?

Areas of Use for NFT

Now NFT is most often used to confirm the fact of ownership of such digital assets as images, video, memes, or music. In the gaming field, NFT collectibles and in-game assets are popular. However, this is not all. Currently, you can tokenize:
1. Tweets (Twitter founder Jack Dorsey sold the NFT token of his first tweet for $2.9 million).
2. Domain names.
3. Tickets for any event.
4. The right to physical assets (real estate, cars, art, etc.).
5. Stamps, coins and other collections.
6. Licenses for books, musical works and films.

World NFT Cases

The most compelling example is the use of technology by various well-known brands. What can we see in this direction? Let’s look at some interesting cases.

1. Pizza Hut. The fast food chain unveiled a new pizza called 1 Byte Favorites. According to the company, this is the world’s first NFP — Non-fungible Pizza. The new line features a limited number of eight-bit drawings with the network’s most popular pizzas.

2. Charmin. A subsidiary of Procter & Gamble released NFT (P) — Non-fungible Toilet Paper. Together with three illustrators, the brand created five NFT images. Charmin donated the proceeds to the humanitarian organization Direct Relief.

3. Pringles. In 2021, the company released new chips — in a virtual format. The CryptoCrisp flavor came in the form of 50 NFTs with an animated image of a spinning golden can of Pringles. The picture was created by Ukrainian artist Vasyl Kolotusha.

4. Gucci. The Gucci fashion house, together with the Superplastic brand, developed and released a line of designer NFT toys. The first part included 10 limited edition NFTs. Together with NFT, the buyer received an original handmade ceramic toy.

5. Kia. The automaker drew attention to the problem of stray dogs with the help of NFT: it offered its own collection of 10,000 electronic puppies for free on the Sweet online auction. In the collection, age signs were less common and valued more. So the brand focused attention on the problem of large and old dogs — they are rarely taken from shelters, preferring young and energetic animals.

NFT allows brands to empower interactions with their customers and the environment. This is a new level of communication, updating important topics, creating special impressions, and developing iconic images and memorable designs.

NFT in Ukraine

Perhaps not as fast as in other parts of the world, but the NFT trend is still gaining momentum in Ukraine.

The First Ukrainian NFT Game

Yes, right now, 22-year-old Maxym Kucherenko from Kyiv is working on an NFT simulation game where the player will grow and breed fictional plants. Each plant bred by the player will be a unique token. Five people are currently working on the game, and a full launch is scheduled for Q4 2022.
The idea to create a game based on the blockchain came to Maxym after talking with a friend about modern technologies. The guy thought about creating a unique world — a metaverse — with unique objects and inhabitants. Thus the idea of the game Bloomia was born. In it, all game elements will be tied to the NFT. As for budgets, Maxym is not ready to give exact amounts, but notes that a blockchain game with all the necessary features and mechanics will probably require hundreds of thousands of dollars of investment.

The First NFT Marketplace

Ukrainian charitable NFT marketplace ArtBay allows selling and buying art objects in the form of digital tokens. For example, there one can see paintings by famous Ukrainian artists, an autographed record by singer Iryna Bilyk, and boxer Oleksandr Usyk’s gloves. All NFT lots are sold with original physical objects. The project is aimed at helping the charitable organization “Mama I Nemovlya”.
Marketplace auctions operate on the basis of the world’s largest crypto exchange Binance. Prices are displayed in Binance Coin and USD. All images for sale belong to ARS Kerylos Gallery. To participate in the auction, everyone must create an account and link a Metamask cryptocurrency wallet to it.

The First Museum Launch of NFT Art Collection
The National Art Museum of Ukraine became the first museum in the country to create an NFT collection of works of art. The token sale began on February 1, 2022, in partnership with the Estonian startup StampsDaq, which provided its platform for this. The price depends on the auction demand and one of the 5 rarity categories. It ranges from $25 to $1000. The museum tokenized the works of such Ukrainian artists as Oleksandra Exter, Vsevolod Maksymovych, Oleksandr Murashko and Petro Rybka.
“Animated effects help reveal the context of creating a painting, but at the same time make you want to come to the museum and see the original with your own eyes,” General Director of the National Art Museum Yulia Litvinets says.
It was planned that in March, buyers of tokens would be able to receive additional bonuses: tickets to the museum, a tour of the permanent exhibition of the museum, and a thematic tour of the period in accordance with the purchased token. Currently, active visits are suspended due to wartime.

The First NFT Museum of War

Recently, the Ministry of Digital Transformation of Ukraine, together with the community of NFT artists, created an NFT museum of war. It brings together modern blockchain technologies, art and, most importantly, historical facts that must be recorded. The goal of the project is to spread truthful information about russian aggression against Ukraine and raise funds for humanitarian support for Ukrainians. The museum offers to view the works presented in digital form as NFTs and, if desired, to purchase them.
The exhibits reflect the military events experienced by the Ukrainians, with the exact date and time. So, among the works one can find an image dedicated to the largest aircraft in the world, Mriya, destroyed by the russians on February 27. Or the work that captures the signing of Ukraine’s application for EU membership on 28 February.
“The first part of the collection contains works by Ukrainian artists. Further, the museum will be replenished with the works of artists around the world,” the press release of the Ministry of Digital Transformation says.
Over $600,000 was raised in support of Ukraine during the first day of exhibit sales.

NFT Initiatives in Support of Ukraine

A large number of Ukrainian organizations have joined NFT initiatives aimed at raising funds for the Ukrainian army and internally displaced persons.
1. Ukrainian developer of blockchain solutions ElephantsLab launched the Ukraine’s Angels charity platform and introduced an NFT collection on the BNB Chain blockchain. The collected funds will be used to support refugees and humanitarian needs.
2. Run Ukraine, the organizer of the largest running events in Ukraine, launched a charity project — a collection of NFT-token-posters in support of Ukraine. The cost of lots is from $3. One can buy NFTs on the Binance platform. All funds are directed to the provision of battalions of the Armed Forces of Ukraine and humanitarian aid.
3. Ukrainian startup HolyWater, in collaboration with Ukrainian artists, launched the sale of an NFT collection about events in Ukraine. All funds received from NFT sales will be transferred by the startup to the official crypto wallet of Ukraine and the Come Back Alive fund.
4. The creative agency Isobar Ukraine launched a series of truthful NFT postcards with Ukrainian cities most affected by shelling. Proceeds from the sales will be donated to the restoration of these cities.
5. The MintyMint company created the One Proud Nation NFT collection of 10,000 anti-war images. The purpose of the collection is to draw attention to russian military aggression. All proceeds will be transferred to the purchase of vests, helmets and other protective equipment for the Ukrainian military.

NFT Projects by Kevuru Games

The Kevuru Games studio keeps up with global trends and is actively studying the impact of NFTs on the gaming industry. The company’s specialists are already working on several NFT projects. Work is gaining momentum, and now the following works are in progress.

Undead Blocks

It will be the world’s first multiplayer survival game on the Ethereum network. The gameplay is simple — players will have to defend themselves against hordes of zombies using special NFT weapons. For each zombie, they will earn ZBUX in-game rewards that can be farmed to upgrade weapons or purchase useful items. The studio team was engaged in game design and created 3D models of weapons.
It’s not long to wait for the release — it is scheduled for Q3 2022. 50,000 Twitter followers are closely watching game updates and are actively preparing to eliminate zombies.
“It is important to understand that an NFT project can be either the development of a full-fledged game or simply the creation of avatars and unique pictures (2D or 3D). The most difficult thing in the second case is writing a script that will correctly combine details or change textures to create a unique image/avatar,” Kevuru Games experts say.

Guild of Guardians

For example, this is exactly the kind of work done by the Kevuru Games team for Guild of Guardians, a mobile RPG where players can team up and compete in guilds to earn epic tradable rewards. The studio specialists were given the task of creating 2D digital avatars for players, which could be purchased on the NFT marketplace. The artists depicted a wide variety of traits for avatars, from race and background color to hats and weapons. A Unity developer created an algorithm that combined all the traits created by the artists to design full-fledged images. Thus, about 40,000 unique avatars were realized.
The release of the game is expected in the second half of 2022 — more than 130,000 players are looking forward to the opportunity to start earning by farming in-game $GOG tokens and improving their fighters.

Gooniez Gang

For this project, Kevuru Games specialists will provide full-cycle development services. The first of its kind Web 3.0 racing shooter is slated for release in Q1 2023. In it, players will have their avatars in the form of the so-called Gooniez — special fighting duck-racers, bred by one mad scientist. Having chosen a car and weapons, the ducks will participate in wild races full of chaos and gunfights. The victory will allow earning $GANG tokens and spending them on improving cars and weapons.

MechaChain

MechaChain is an upcoming NFT game about space conquest and robot battles. The robots are called Mechas: each Mecha is a set of NFT collectible parts and can be purchased using the in-game cryptocurrency called Mechanium. After the complete collection, the robot gets the opportunity to participate in PvP battles alone or in a team. Players can earn Mechanium by winning battles and bidding, as well as improve their work by purchasing new parts.
About 160,000 players are already on the waiting list for the game: they follow the latest news about its development on Twitter, Telegram and the Discord channel.

What’s Next?

Kevuru Games experts estimate the timing of such projects based on their own experience. If one talks only about creating art, then the work takes about 3–4 months. In parallel, one can deal with the script and its testing.
If this is to be a full-fledged game, then the minimum estimate is that it will take 9–12 months to develop until the MVP version. In fact, the NFT prefix practically doesn’t affect the cost — it is only affected by the project itself, its complexity and scale. So, its development can cost from $1,000 to $5,000,000.
The key experts in this field are developers who understand blockchain technologies and game designers with experience in calculating the economy in similar projects. It is important to understand the specifics of introducing tokens into the game and how they will affect the gameplay and the gaming experience. By the way, new specialists are always welcome at Kevuru Games, and you can find current vacancies here.
Research by information technology marketplace Gartner suggests that by 2024, 50% of public companies will use some form of NFT to reinforce their brand presence or digital ecosystem. NFT will become a massive marketing tool to grow the value of companies.
The most interesting thing about NFTs is that they remove one of the most important barriers to a virtual digital future. People begin to understand that everything can be valuable. The concept of money is no longer subject to centralized authorities. NFTs marked the beginning of the formal implementation of financial decentralization.
For some, it’s about keeping the work authentic, while for others, it’s about rapidly rising prices and the potential for huge rewards. Either way, NFTs open the way for digital content creators to get more value out of their creations. For creators, the future of potential ownership through NFTs is promising.