Tokenizing Pokemon Cards with NFTs
Cryptocurrencies, utility tokens, digital assets, we’ve heard it all! But have you ever heard of tokenizing ever-so-popular rare Pokemon cards? Don’t worry; today, we will educate you on tokenizing Pokemon cards with NFTs.
In a fast-paced world moving towards blockchain technology and cryptographic assets, there is no surprise that heavy emphasis is being devoted to investing in such currencies. There is, without a doubt, a trend of investing in the unexplored horizons of blockchain technology that promise great results.
What are NFTs?
Non-fungible tokens, better known as NFTs, are a special type of cryptographic token representing anything unique, giving it the property of not being interchangeable. Contrary to its fungible crypto counterparts, such as bitcoins, non-fungible tokens each hold a separate, significant value, contrasting it amongst the others.
How NFTs work
While the protocols for creating sustainable non-fungible tokens are still being developed, the idea has been very successful, integrating NFTs into various digital assets. The best part about NFTs is that you can add detailed attributes to the tokens, giving them rich metadata and identity and allowing investors to ponder the potency of the tokens truly. Such attributes allow the tokens to become a part of the digital currency world’s progression.
With each NFT not easily replaced or substituted by the other, the cryptographic token is a great way of allocating a specific value to a given asset, ensuring a little changeover. Let’s take an example of the ever-famous Pokemon card, Pikachu. The character is not divisible, leaving no room for swapping the card with another that holds the same value. This is precisely why Pokemon cards can be successfully tokenized as a non-fungible tokens.
Tokenizing Pokemon Cards as NFTs
Each Pokemon is different, almost unique in its way, as it has different strengths, weaknesses, and attributes. A typical Pokemon card comprises the character’s name, health points, type, abilities, attacks, resistances, and retreat costs. Nintendo could print digital tokens, one-of-a-kind or limited-run digital assets, uniquely able to easily verify their authenticity.
Anyone can tokenize a Pokemon when you create a token against a card, a digital twin of the card, representing its value as an asset. While the token has no significant value, it draws on the value from the good it represents. Value is bestowed on the token when parties agree that verified token ownership bestows ownership of the card itself. If you regularly trade in Pokemon cards, shipping them globally and the risk of damaging them can be costly. The Pokemon card, or an entire Pokemon collection for that matter, could be sitting in a safe deposit box in the Cayman Islands while the token(s) are traded from one owner’s digital wallet to another all over the world with much faster processing times and less expensive transaction fees.
Example: Charizard
For an easier understanding of how and why Pokemon can be easily tokenized, let’s start with the crown jewel, Charizard, a well-known creature in the Pokemon universe.
Charizard is a level 76 fire-type Pokemon, channeling HP of 150. The Pokemon’s main ability is energy burn, which allows it to attack via a fire spin using 4 fire energies. Although this Pokemon is known to be the king of the playground, it is exceptionally vulnerable to water, routing a retreat cost of 3.
These characteristics of the Pokemon help it stand out in the crowd, making it unique and different from other Pokemon, for example, much different than the water-type Pokemon Lapras. Hence, adding unique value to the trading cards themselves and making them the perfect candidate for tokenized NFTs
Digital Assets: Complete Portability and Convenience
Your digital wallet can contain digital assets, contacts, and your profile, but also your NFT assets, which can include tokenized Pokemon.
So, if you are planning on trading your Pokemon with complete ease, it’s best to tokenize them using NFTs, making your physical collection go virtual. Such extensive portability allows players to make the most of their Pokemon collection in no time.
Don’t wait too long and start tokenizing your grand collection to become even finer.