ERC-998, The New Token On The Block
It’s been a busy week for the design team, and I can’t wait to finally unveil what we’ve been working on for Bitizens. With the game’s preview release coming up this month, I thought I’d talk a little bit about how your Bitizen makes sense as an ERC-998 Composable Non-Fungible Token.
Bitizens the game will be one of the first (if not the first) blockchain game to fully use the ERC-998 token standard. Despite the widespread use ERC-20 and ERC-721 in the blockchain gaming space, Composable Non-Fungible Tokens (CNFTs) are expected to be the next standard in blockchain gaming.
A new composable world
ERC-998 tokens are similar to ERC-721 tokens in that they are both non-fungible. However, ERC-998 tokens are also composable. Simply put, this allows for an ERC-998 to, in a sense, own both ERC-20 (fungible, each token is the same value) and ERC-721 (non-fungible, each token has a unique value). This is a key aspect for Bitizens from an ownership perspective. Your Bitizen will accumulate a fair amount of items over time, and tying those items to your avatar is imperative.
In the above example, the value of the ERC-998 is created by equipping a number of assets.
Inherently, a combination of items that complement each other could enhance the value of an ERC-998 token.
Bitizens: Preview Release
The Bitizens preview release will include an ample amount of items for you to play around with to create a unique look, so make sure you head over to BitGuild.com on July 27th to create your very own Bitizen! And if you’re looking to score some unique items for your Bitizen, you might wanna check out the presale.
Bitizens aims to embrace CNFTs fully as we look forward to the many possibilities where it pertains to item ownership, game experience, and the game economy. To learn more about our plans to create a trading platform through our marketplace, check out last week’s article from our CTO Mikhail.
BitGuild’s mission is to revolutionize the global gaming industry by creating a platform for a brand new class of games that live on the blockchain. Blockchain games completely redefine the relationship between players and developers by facilitating full and true ownership of in-game assets, cheap & safe item trading, cross-game compatibility of items & currency, and more.