Skilled “work” defines NFT value — pretty nifty

Snook gamers to capture unique gaming achievements in their NFT

Snook is the first game in a new NFT crypto-space — one that determines the face value and influences the market value of an NFT through measurement of skilled “work”. It’s the crypto meritocracy and an equivalent to that thing your parents used to say: ‘if you work hard and apply yourself, you’ll reap the benefits’…

Snook is basically a multi-player, snake-like IO game. By incorporating blockchain and crypto technologies, we mint the player’s character as an NFT and allow her to immutably record achievements in the game on the NFT she owns, increasing its value.

This merger between a new, decentralized, trust-agnostic, and immutable economic paradigm and one of the most popular pass-times in Human history (gaming), is surprisingly natural and seamless. Players spend time playing. They develop skills with patience and persistence. Until today, their efforts were measured in their score, ranking, and/or character evolution. Rewards were emotional and social — it felt good, and you got “street cred” from the relevant community. However, like all economies, if one invests work in something, it should be possible to exchange the “fruits” of that labor with other things that store value. Those could be money (e.g., Fiat or FT/cryptocurrencies), commodities (which are still fungible, i.e., they are the same and replacing one with another does not affect its value), or non-fungible items (e.g., NFTs). This leads us to Snook — a game that allows players to capture their unique gaming achievements in their NFT. Moreover, Snook makes certain achievements especially difficult to realize, allowing exceptional players to make their NFTs very rare, i.e., very valuable.

As such, Snook is a steppingstone towards:

• Bringing the cryptocurrency and blockchain economy and ecosystem closer to. and connecting it with the mainstream economy and day-to-day activities.
• Realizing a working model for capturing the value of gaming skills and “work” (in the sense of investing time and attention) in a tradable financial vehicle (as opposed to online gambling)

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Till next time,

S.L.