A new firm Digital Arms is looking to bring cryptocurrency and tokens to the world of shooting, combining the intellectual property of the gun industry with video games using their own Hunter token, $HNTR. This will let gun companies license their designs to other companies to make essentially digital trading cards.
By using non-fungible tokens, or NFTs, these digital collectibles will be hard to scam and easy to control, allowing companies to make some very rare and therefore very desirable token items. Digital Arms is also hoping to make their NFT firearms and accessories work across gaming platforms.
That way gamers can buy, earn and win digital guns or gear in one game and use them in others as well. Every digital collectible will have its own certificate of authenticity and dollar value backed by the Hunter token, letting them trade and sell the digital property.
While a good number of gun owners might be asking the question “why?”, it seems that realistically, this was inevitable. Gun companies already work closely with video game companies and other media producers, for product placement and control over their intellectual property including trade dress patents.
The world of digital collectibles is starting to take off, and pay out in real terms. Digital Arms is just getting into a new market that’s growing fast.
One of their core strategies is setting up a platform for users that’s easy to use and intuitive. They know that cryptocurrencies and NFTs are relatively new and a lot of people don’t have experience with them.
It will be a challenge for Digital Arms just to explain to people why this is a good idea, and how to use it. But as soon as any of these companies starts to make money, people will eventually go along with them.
Time will tell if Digital Arms is the company that will make this a successful business, but they have a plan in place and $1.5 million in seed money.
“Bringing the real-world aspect to the platform, Digital Arms is partnering with globally recognized firearms manufacturers to replicate models and create scarce, licensed firearm NFTs, thanks to agreements with industry-leading names,” they said in the announcement.
According to Digital Arms, about three-quarters of the $80-plus billion video game market is made up of microtransactions, where players pay money for things like unusual uniforms and custom in-game firearm finishes. Just like in the real world, gamers like to customize their virtual firearms.
Digital Arms is looking to work with manufacturers and use official drawings and specifications for firearms and accessories to make their digital counterparts. These would then be tokenized and backed up by blockchain for collectors and traders.