NFT alternative to online cockfighting (Sabong News)
Author
J. Albert Gamboa
Date
MARCH 10 2022
Fungible goods are indistinguishable and mutually interchangeable items that are contracted for without an individual specimen being specified. They can be replaced by another identical item, examples of which are gold, oil, bonds, fiat currency, and cryptocurrency.
On the other hand, non-fungible goods are those that are unique and cannot be exchanged for anything else. A prime example is the non-fungible token (NFT), a digital asset representing the ownership of digitally scarce goods such as art, collectible items, or real estate. When it was first introduced in 2014 at a New York City conference, the technology was referred to as monetized graphics with a tradable blockchain marker explicitly linked to a work of art.
According to Investopedia, “NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency.” Since each token is uniquely identifiable, NFTs differ from bitcoin and other cryptocurrencies.
However, it was only during the Covid-19 pandemic when the NFT market experienced rapid growth. In 2020, the US Patent and Trademark Office received only three trademark applications for NFTs, but these skyrocketed to over 1,200 in 2021. In the first two months of 2022 alone, NFT-related trademark registrations averaged 15 per day. Among the growing list of brands being trademarked for NFTs are Walmart, Star Trek, Elvis Presley, Yahoo, Sports Illustrated, and the New York Stock Exchange.
In the Philippines, a home-grown tech startup has recently developed a blockchain-based NFT online game. MetaDhana Studio is set to launch Rooster Wars (RW), a play-to-earn (P2E) fighting game that allows players to customize the build of their characters and formulate strategies in real time to win.
The RW project came into fruition through MetaDhana’s joint venture with another Filipino game development firm, Ranida Games, which was responsible for creating the online Basketball Slam game that has attracted more than 10 million downloads.
Set in a fictitious planet called Galleos, RW differentiates itself from the controversial online cockfighting game known as “e-sabong” in the Philippines. First and foremost, RW is animated and story-driven while promoting a cruelty-free gaming experience. Only in-game resources are spent when participating in online battles or revitalizing burnt-out virtual roosters. More importantly, it is far from outright gambling as there is no direct betting among players and spectators.
Ranida Games CEO Ben Banta, who also heads the gaming division of MetaDhana, said: “The idea of cockfighting has a negative connotation in some regions, although it’s been embedded not only in Filipino culture but also in other countries like Brazil and Thailand. We incorporate some elements of that culture, but the game design purposely removes any association with humans.”
MetaDhana’s Head of Growth and Community Development, Jed Mark Serilla, believes that RW will change the way P2E games are viewed. “Filipinos have the opportunity to take part it its initial phase with a Pinoy-made game ready to conquer the global gaming scene,” he disclosed.
RW’s development team is currently fine-tuning the game’s backend, targeting end-March 2022 for the rollout of its playable alpha version. Online game gurus and influencers could then livestream RW in action for their target audiences.
