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10 - The Nexus of Gaming and NFTs

A Deep Dive into the Future of Digital Interaction

from Part III - Capital Markets, Community, and Marketing

Published online by Cambridge University Press:  02 November 2024

By
Nizan Geslevich Packin
Edited by
Nizan Geslevich Packin
Nizan Geslevich Packin
Affiliation:
Baruch College (City University of New York)
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Summary

In an era where two-fifths of the global population is engaged in gaming, this industry’s technological and economic evolution is of paramount importance, promising continued growth. Beyond mere entertainment, gaming has become a primary medium for social interaction, enriched by technologies like virtual, augmented, and extended reality. Gaming has increasingly become intertwined with the financial market as game developers shift their focus from gameplay enjoyment to monetization of in-game assets and some players prioritize the potential for livelihood in gaming. This transformation has been accelerated by the integration of blockchain, decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs), which provide users with more control over their in-game assets and enable external trading of such assets in the secondary market. This chapter delves into this integration, examines its impact on the gaming industry, and provides a high-level overview of key related legal and ethical issues that warrant further exploration.

Keywords

NFTsDeFiGameFiblockchaingamificationdigital gamesmonetizationlaw
Type
Chapter
Information
The Cambridge Handbook of Law and Policy for NFTs , pp. 196 - 214
Publisher: Cambridge University Press
Print publication year: 2024

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