Nasdaq: NFTG Profile
OUR NEW PROFILE IS: (NASDAQ: NFTG)
The company’s ties to NFTs make it a play in both the crypto and gaming spaces
Industry Giants Like Samsung, Netgear & GameStop See the Future and Are Betting Big on NFT Gaming
Have you had a chance to look over our last few profiles? 2 of the last 3 have gone on to make double digit gains in just a few sessions. In particular I want to highlight our profile from last Monday.
We brought you INM and it certainly turned out to be a head turner. It saw an average trade of 1.18 on the day. Today it saw highs of 1.68 and traded the entire float several times over. This represents a 42% potential move off of Monday’s average trade in just 5 sessions.
Pull up NFTG immediately for tomorrow’s session.
The NFT Gaming Company is developing a digital gaming platform that will offer proprietary games as well as games developed and published by third parties. Their vision is to develop, design, acquire, and manage conventional digital games and to combine them with novel methods, such as the ability to create and mint unique in-game features, such as skins, characters, weapons, gear, in the form of non-fungible tokens, or “NFTs,” that will allow users to have unique experiences and more control over in-game assets. They plan to initially launch their own proprietary games that are simple and fun to play, and that offer gamers the ability to mint their own affordable NFTs within the platform, with unique and exclusive features, that can be utilized across the network of games and platform that they plan to build.
NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT’s authenticity and who owns it. NFTs are becoming a part of popular culture due to extraordinary marketing around it by influencers, brands, and celebrities.
The NFT Gaming Company Acquires Voxpow Artificial Intelligence (AI) to Integrate into Proprietary Games
Roseland, NJ, March 06, 2023 (GLOBE NEWSWIRE) — The NFT Gaming Company, Inc. (“NFTG” or the “Company”), a developer of a digital gaming platform and community that offers users the ability to mint unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or “NFTs,” today announced that it has acquired the artificial intelligence assets of Voxpow to integrate into its proprietary game portfolio.
“We’re excited to implement Voxpow into our ecosystem for the development of next generation Artificial Intelligence-powered games,” said Vadim Mats, Chief Executive Officer of NFT Gaming. “Players will now be able to use their voice to control various aspects of games such as movement, responses, and other actions. Securing this technology allows us to expand our offering of games and enhance the overall gaming experience.”
Voxpow boasts AI-powered speech-recognition technology with natural language processing that recognizes more than 100 languages and variants. Other features include sentiment analysis and a variety of other web-based integrations.
Gaxos is a constellation of casual, multi-genre games connected by NFT technology. In Gaxos, your experience points and achievements stay with your avatar and move between games. Mint-to-play means that once you’ve minted your NFT avatar, you own it and you’ll be able to play all the games in the Gaxos constellation. Gaxos is based on the Polygon chain. The Polygon network recently announced that it pledged $20 million to eliminate “all of the network’s carbon debt going back to inception and then going carbon negative in 2022.”
This platform brings together gamers, developers, and publishers, and which incorporates and offers them the ability to augment their games and gaming experiences with unique and exclusive features, as well as the opportunity to earn rewards and participate in other opportunities. The Platform is intended to include a wide variety of games that span various genres, including role-playing (RPG/ARPG), sports, simulation, puzzles, action-adventures, shooters (FPS/TPS), battle arena-fighting, and other skill-based games.
They believe that the ability to mint and use NFTs in-game that are distinguishable and tamper-proof offers gamers more power over their asset and the ability to have an augmented and exciting gaming experiences.
MORE ABOUT NFT’S
A non-fungible token, or NFT, is a digital, cryptographic token on the blockchain that certifies a unique asset. When someone “mints” an NFT, they create a file that lives on a blockchain that cannot be edited or deleted. Because the file exists on a blockchain, it can be viewed publicly, meaning the item’s provenance is public and verifiable. While NFTs have been generally built on the Ethereum blockchain, recently other blockchains, such as Polygon, have also emerged as a building block for NFTs, some of which offer lower-cost network fees and faster transaction processing speeds. Our NFTs will be launched on the Polygon network, which is an Ethereum compatible blockchain building platform (i.e. Polygon’s parent chain is Ethereum) that provides a secure and lower-cost alternative to Ethereum’s escalating gas fees and wait times without sacrificing the security granted by the Ethereum blockchain.
NFTs are digital assets that can represent a unique real-world asset, such as art, music, in-game items, or videos. NFTs are most-commonly powered by smart contracts on the Ethereum blockchain. Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. “Smart contracts” is a term used to describe computer code that automatically executes all or parts of an agreement and is stored on a blockchain-based platform. In the case of in-game NFTs, these NFTs generally can be images, skins, virtual real estate, pets, or other items that can be owned and held in a digital wallet. A digital wallet (or e-wallet) is a software-based system that securely stores users’ payment information and passwords for numerous payment methods and websites. Currently, NFTs are being used to sell a wide range of virtual collectibles, including:
• virtual sports trading cards and video clips;
• music and album cover art;
• art, memes, or other digital images;
• in-game assets; and virtual real estate, fashion, and other real-world representations in the metaverse, a virtual-reality space in which users can interact with a computer-generated environment and other users
NFTG appears to have stabilized since their IPO back in Mid February and has been trading sideways since and appears to have found a new range. This could be a good time to research this one.
The Company plans to generate revenue through several different channels.
First is from the sale of their in-game NFTs to customers via their platform. Revenue generated from such sales, either directly as a sale of their in-game NFTs or indirectly as commission, will be recognized upon delivery of the in-game NFT to the customer which is when the Company completes its sole performance obligation.
The Company plans to generate revenue from advertising fees paid by game advertisers, developers, hardware companies, or other strategic partners to the Company for promotion on our platform. Revenues from these fees will be recognized ratably over the agreed upon advertising service period and upon delivery of agreed upon advertising services.
They plan to generate royalty revenues when a third party sells one of their NFTs on a third-party platform. They will recognize royalty revenue when it is probable that we will collect the royalty fee owed which is typically when they receive notification from the third-party platform that an NFT has been sold. In the instance where the Company will receive royalty payments when a customer disposes of an in-game NFT in the secondary market on a third-party platform or any other payment that is not in fiat currency, the Company will recognize the revenue in accordance with ASC 606-10-32-21, Noncash Consideration. Fair value of the non-cash consideration received shall be determined by using the quoted price for such non-cash consideration on the date of the transaction.
When a third-party publisher sells an NFT created using their platform via their smart contracts, they will receive a commission. Since they would use their same smart contract, the delivery and performance obligations are simultaneous with payment. They will recognize commission revenue upon delivery of the NFTs.
They will also generate transaction fee revenues from their customers which shall equal the network fees charged by the Polygon blockchain at the time of minting. Fees incurred by us, including Polygon Network (MATIC) and other NFT transaction costs, will be netted against such transaction fee revenues and transaction fees revenue will be reflected net of the related expenses. Currently, transaction fees are negligible. Transaction fee revenues and related costs shall be recognized on the date of the respective transaction.
The NFT Gaming Company Acquires Voxpow Artificial Intelligence (AI) to Integrate into Proprietary Games
Roseland, NJ, March 06, 2023 (GLOBE NEWSWIRE) — The NFT Gaming Company, Inc. (“NFTG” or the “Company”), a developer of a digital gaming platform and community that offers users the ability to mint unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or “NFTs,” today announced that it has acquired the artificial intelligence assets of Voxpow to integrate into its proprietary game portfolio. “We’re excited to implement Voxpow into our ecosystem for the d
GlobeNewswire•22 days ago
The NFT Gaming Company, Inc. to attend NVIDIA GTC AI Developer Conference and Joins NVIDIA Developer Program
Roseland, NJ, Feb. 27, 2023 (GLOBE NEWSWIRE) — The NFT Gaming Company, Inc. (“NFTG” or the “Company”), a company developing a digital gaming platform and community that will offer users the ability to mint unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or “NFTs,” today announced that it will be attending NVIDIAs AI conference in March 2023 and joined NVIDIAs developer program to leverage leading AI tech for game development. NFTG is developing ga
The NFT Gaming Company, Inc. Announces Closing of $7 Million Initial Public Offering
Roseland, NJ , Feb. 17, 2023 (GLOBE NEWSWIRE) — The NFT Gaming Company, Inc. (“NFT Gaming” or the “Company”), a company developing a digital gaming platform and community that will offer users the ability to mint unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or “NFTs,” today announced the closing of its initial public offering of 1,686,747 shares of common stock (the “Common Stock”) at a public offering price of $4.15 per share of Common Stock
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