NFTs are non-interchangeable assets that rely on decentralised blockchain technology to maintain their digital value (Chohan & Paschen, 2021) and can include characters, avatars, entry tickets, tools, or weapons that generate value in the game. Such assets increasingly take the form of non-fungible tokens (NFTs) or in-game cryptocurrencies (Aguila et al., 2022) that can be traded on exchanges in return for fiat currency (e.g. VGO skins) which has the advantage of providing a more secure and definitive ownership model for gaming participants. Increasingly, such gaming assets are being deployed using modern blockchain technology (e.g. This was soon followed by the ability to buy and sell in-game artefacts or player “skins” on third party sites or use them as assets for gambling (Abarbanel et al., 2019). Diablo series and others), this emerged in the form of in-game currencies, enabling players to accumulate value that could be used to purchase various digital items. “Play to Earn” (PTE) is an emerging branch of online gaming, whereby individuals receive monetary rewards for gameplay (Absolute Reports, 2022).
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