Utilify is a digital content cooperation platform developed by Hymedall UG, the team behind Bitcoin Hodler, that enables brands, creators, and developers to collaborate through non-fungible tokens (NFTs).
Apps and game developers can broaden the utility of their items (e.g, cards, game items, etc.) by connecting them to existing projects on Utilify platform. This means as an NFT owner, you can use your NFT across many games and apps rather than just being limited to a single one.
The Utilify platform supports Non-Fungible tokens from the Enjin smart contract (ERC-1155), broadening its reach to ERC-721 in the future. Since its launch, some blockchain games, including Lost Relics, Forest Knight, MyMetaverse, and Kingdom Karnage, have already got on board, and many more are expected to join soon.
How Utilify Works?
The 3 Types of Assets On Utilify
On the Utilify platform, assets are divided into three different categories: NFTs, utilities, and resources.
Here is a brief description of each category:
- NFTs: Unique tokens or digital entities stored on a blockchain that represent ownership of digital content and special access to it
- Utilities: Digital content like game characters and items that can be accessed with an NFT
- Resources: The data needed to create digital content (e.g., a 3D model for a character)
NFT creators can add utilities from different third-party apps or games to their own NFTs. For instance, an item or ability from one game can be linked to an account (stored as NFT) from another game on the Utilify platform. This gives the item more utility as it can be played within more than one game.
Collaborations can be initiated between two parties through sending cooperation requests. These requests can be tailored by adding limits and quotas, allowing both parties to decide the duration and funds for the cooperation, and the type of utilities they will share (e.g, vouchers, memberships, characters, etc.).
Projects can link utilities to benefit each other. For example, accomplishing a task or mission in one dApp using an NFT can unlock a benefit in another dApp. Or consider a game avatar that can be used in multiple games by updating its data like level, XPs, and achievements on different platforms at the same time.
The Utilify platform facilitates NFT-related metadata handling through its API / SDK to store stats of unique NFT-Utility pairs. This enables both dApps to store their own separate data without mixing it up with any other utilities paired with the same NFT.
The Utilify project is currently in its closed pre-alpha phase. An alpha release is expected in the third quarter of this year, and it will be available for public use.
To pre-register your project, please visit the Utilify platform website.
Kostas is a founding member of egamers writing for the blockchain gaming and NFT industries since early 2018. He likes to follow decentralized projects, and expand his knowledge around Marketing.