Blankos Block Party Uses NFTs But Not Bitcoin Mining

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During an E3 presentation, crypto game developer Mythical Games unveiled new details regarding Blankos Block Party and its playable NFTs.

Playable NFTs in Blankos Block Party, an open-world free-to-play game built on blockchain, won’t use crypto mining. Blankos Block Party is among the growing number of games built using blockchain technology. Developed by Mythical Games, the game uses virtual vinyl figurine NFTs (non-fungible tokens) as playable characters. Players in Blankos Block Party can purchase new Blankos (the term for the characters) through the game’s online marketplace using cryptocurrency, like Bitcoin. Those same players can sell their collected Blankos on the marketplace, earning real-life money in exchange. Each time a specific Blanko is purchased, the player who sold it also earns a portion of those sales through smart contracts, which are agreements written in code on the blockchain.

NFTs have garnered a negative connotation in recent months as they grow in popularity. Much of this stems from the ecological impact that NFTs have on the environment through Proof of Work crypto mining. Cryptocurrencies like Bitcoin use the POW algorithm, which requires a complex equation to be solved before a new block joins the chain. Just one of these equations requires an immense amount of power to solve, resulting in an overabundance of energy cost and CO2 emissions from the fossil fuels used to make the electricity. While NFTs do offer a unique form of ownership, where the buyer now has authentic proof of ownership on the blockchain, the benefits of owning the item as an NFT weigh against the environmental toll.

Related: Video Games As NFTs Are Bad For The Environment & Fans

During its E3 broadcast, Mythical Games announced that Blankos Block Party is entering into early access and collaborating with several well-known artists. The developer also explained how its NFT ecosystem would not impact the environment like other NFTs do currently. Blankos Block Party uses a method known as Proof of Authority. Where POW requires an equation to be solved before a transaction is approved on the blockchain, POA requires the actors on the blockchain to validate the transactions or add a new block to the chain, according to Equos. This system reduces the amount of electricity used to make the transactions significantly because only the actors, in this case the developers, can make decisions. Furthermore, Mythical Games says that neither Blankos Block Party nor its marketplace requires any crypto mining whatsoever.

The developer also announced collaborations with several prominent artists in fashion, music and other mediums. Among those collaborations are EDM legend Deadmau5, luxury brand Burberry, and late rapper Nipsey Hustle’s clothing brand, Marathon Clothing. Blankos Block Party will offer exclusive NFT drops featuring these artists and others for players to purchase later in 2021. Mythical Games believes that its game will allow players to own their assets and make a profit. “With Blankos Block Party and its Marketplace, Mythical aims to drive mass adoption of ownership in games through NFTs and blockchain technology, opening the door to a new kind of global game economy where creators are owners and players are asset holders,” said Mythical Games.

As more people begin investing in blockchain and NFTs for the premise of gaming, more games like Blankos Block Party are sure to arise. However, despite the popularity of NFTs, it is hard to overlook the impact required to produce them at the moment. Moreover, POA is far less prevalent than POW in public blockchains. Until a more sustainable and clairvoyant method of authenticity is developed and adopted, Blankos Block Party’s POA method may be in the minority.

Next: E3 2021 Day Three Roundup: Every Big Reveal From June 14

Blankos Block Party is free-to-play now on PC.

Source: Mythical Games, Equos

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