New Ethereum Project Aims to Tokenize Video Game Items

The ability to create decentralized applications (DApps) is widely considered to be one of the most promising use cases for blockchain technology. Palm, a new Ethereum-based project, aims to provide developers with the ability to tokenize in-game assets in conventional video games as well.

Using Palm, developers can direct popular game development tool Unreal Engine to interface with smart contracts that run on the ethereum blockchain. In-game items can then be structured as ERC-721 tokens, which unlike ERC-20 tokens are non-fungible (CryptoKitties, for instance, uses ERC-721 tokens).

Gamers who purchase in-game items will have the autonomy to remove the ERC-721 tokens from the game — much like withdrawing coins from a cryptocurrency exchange — and sell them to other players or even transfer them into other video games that use a compatible in-game item system.


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