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‘Magic Eden,’ the San Francisco-based mobile game developer and web3 company, announced the release of its ‘SFT marketplace.’ SFT stands for “Semi-Fungible Token,” which is essentially an NFT where each tokenized identity can be minted multiple times. This allows for the combination of both digital validation through the blockchain and the benefit of increased scalability by allowing multiple users to collect the same SFT.
The SFT marketplace will play a pivotal role in Magic Eden’s upcoming creature-collector game ‘Genopets.’ Genopets will function similarly to Pokemon, where players will be able to capture and collect different pets as they play the game. The SFT marketplace will be used to validate ownership of players’ Genopets, while there will be more exclusive Genopets tied to one-of-a-kind NFTs.
Image Credit: Shutterstock
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