Fire Rock creates unprecedented ecosystem to allow redemption of real assets with game reward points
EQS-News / 28/06/2021 / 09:16 UTC+8
Fire Rock creates unprecedented ecosystem to allow redemption of real assets with game reward points
Non-fungible tokens (NFTs) have been making headlines recently, grabbing the attention of investors. Digital assets such as "CryptoPunk" NFT has been sold for US$11.8 million at Sotheby's on 10 Jun 2021. NFTs are digital assets that are built on the ethereum blockchain which does not only provide provenance for digital works, but can also embed unique features such as residual and distribution rights.
The growing popularity of NFTs offers a new opportunity for creators, artists, musicians as well as game developers. Fire Rock Holdings Limited ("Fire Rock")(HKSE:1909) has established a blockchain applications team dedicated to the research and development of blockchain technologies for application in games in March 2021. The team is primarily engaged in the use of blockchain technology to provide blockchain application technologies for existing and potential game operators. Blockchain has an extensive scope of application in games such as developing smart contracts and recording the transfer of any digital assets, enabling the sale of more products based on intellectual property rights by the development team. It can also develop and support the function of digital asset transfer across different games, such that the digital assets owned by games players can be applied in different games to enhance the appeal of the games. Game players can also sell their game assets or properties in the secondary market to earn a profit by using the function of digital asset transfer afforded by blockchain technology.