Decentralized applications are increasingly gaining the attention of developers. This is mainly because conventional game makers and their promoters are aware of the prospects inherent in building these dApps. NFTs are in top demand, it is not surprising therefore that top names such as Capcom have delved into non fungible tokens.
Capcom is the maker of Street Fighter, the console game maker that recently launched the second series of its SF collections. This has given collectors a wide range of options in collectible NFT fighter cards.
Wax and Capcom collaborated in a partnership in the development of Street Fighter NFT cards. Wax is the blockchain platform that incentivized the minting, transmission and trading of digital assets built on the distributed ledger technology.
The Street Fighter NFT makes a collection of unique cards available to users. It has also created a platform that makes it easy for them to exhibit what they have collected through social media integration. Furthermore, enthusiasts of NFTs would be able to find other in-demand collections through what other users want to add to their asset hoards.
A Gaming History
In 1987, the first Street Fighter game series was launched. This was a period when internet gaming wasn’t as common as it is today. The Street Fighter cards morphed into a collector’s piece much later on in the nineties. These were physical cards that the owner can take home in their pocket.
The company made it possible for classic and vintage cards to be made available for collectors. Thus the foundation of SF NFT cards collectibles was laid. These are unique digital items that no two persons can own at the same time. The blockchain ensures that the collectibles are unique. This makes it possible for their histories and ownership to be verifiable.
It is important to know that these digital unalterable pieces represent known Street Fighter game characters. However, the latest series has two new characters that have not featured in older ones. The unique fighting style of the individual player is deterministic in fighter selection by the players. This also reflects that outlook of the consoles.
The asset packs come in two categories: 10 pack and 60. The main difference between the physical cards and digital collectibles is that the latter can only be accessed via the blockchain. They are also digital in place of the physical collectibles that predate them.
As we have already stated, the game cards have morphed from simple console games to a blockchain-based collection of digital NFTs. Capcom started as a maker of gaming consoles in 1987. The company has grown to become a prominent feature in the games industry with offices in several cities.
It started its operations in Japan with the release of the premier arcade games. However, it was not until series 2 before they became very popular among players. Hollywood created a TV series featuring the SF theme after it gained a cult-like following a few years after its debut.
The evolution of the non fungible collectible is a direct consequence of the blockchain revolution and the popularity of NFTs. The partnership between WAX blockchain and Capcom made it possible for SF cards to become digital assets that collectors can easily add to their portfolios.
About WAX Blockchain
WAX blockchain hosts these Street Fighter digital cards. WAX makes it easy for developers and founders of digital items to mint tokens on its blockchain. The platform goes further by promoting such tokens through its marketplace and the community. The Team launched WAX in 2015 to incentivize the building and trading of assets such as NFTs.
The team behind the project is obviously instrumental to its success. The founders are Jonathan Yantis and William E. Quigley. The team raised $42 million from accredited investors through a private partnership. WAX hosts a number of popular NFTs such as Atari and Topps.
The strength of the platform is in its ease of use and access to a marketplace where creators can easily sell digital items. WAX also features a staking feature where holders of the token can earn by staking them using the in-house decentralized finance mechanism.
Street Fighter Tokenomics
The Street Fighter card pack comprises cards of various degrees of rarity. As NFTs, the cards feature uniqueness so that each digital item differs from another. The platform enhances the concept of rarity. The collector can actually make their cards of greater value by combining several of the cards into fewer tokens. There are 6 rarities possible with Street Fighter cards. Combining cards would produce one of these rarities.
In essence, they technically burn multiple tokens of lower value to produce a rarer version of a card of higher value. This means that a collector can mint high value Street Fighter NFT cards using this technique. Consequently, the total available supply of the Street Fighter token reduces making the cards generally more valuable.
Street Fighter Game Play
One of the setbacks that players may encounter in the course of collecting these NFT cards is that the cards do not have practical game play value. Their fundamental essence is to create, hold, own and possibly boost the value of collectible token cards.
These animated ornaments with stunning appearance elicit the interest of collectors. Many of these are those who are aware of the original SF series. Other fighter card collection portals rarely exhibit these features. This is obviously the reason this NFT platform has witnessed more than $2 million in sales made in 22,500 transactions.
Why A Street Fighter NFT?
The perceived value of an asset is a factor in its market demand. Street Fighter is an immensely popular game series. Its popularity is an obvious factor that contributed to the high demand for Street Fighter NFTs. Thousands of these non fungible tokens have been sold since the second blockchain version was launched in February 2021.
Why do digital gaming cards interest people? This is considering that you can collect them physically or download them digitally. The fact is that the technology behind NFTs bestows certain desirable features on these digital collectibles. These meet the expectations of the users.
Arts, documents, digital signatures and even tweets from influencers have been been minted on blockchain. An original item that has been “engraved” on the blockchain is owned by the collector.
In effect, what the buyer of a digital Street Fighter card gets is a unique item that no other person gets. The new owner can own the license to an original digital SF card. They can use them in several ways such as combining matching cards to create a rarer card.
They can also increase the cards”s power rating using build cards also available on the platform. Trading of SF cards on the platform is instantaneous. A buyer or seller can verify the authenticity of their item via the WAX blockchain. Duplication of a card is practically impossible since every transaction made on the WAX blockchain is verified by all the nodes.