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Riot Games prepares to enter the NFT world
Riot Games prepares to enter the NFT world
Gaming

Riot Games prepares to enter the NFT world

By Amelia Tomasicchio - 6 Jul 2021

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Riot Games, the famous producer of successful video games such as League of Legends (LoL) and Valorant, has filed for a trademark in the non-fungible token (NFT) sector.

In particular, the trademark has been filed in Brazil for Wild Rift, the mobile version of the game League of Legends.

Unfortunately, little is yet known about the project, and for now, only rumours have been spread following the news of the trademark.

NFTs in gaming

NFTs are certainly gaining a foothold in the gaming sector. 

There are now dozens of online games and metaverses that use non-fungible tokens, such as Sorare, Wallem and even GTA 6, which is expected to enter the world of cryptocurrency soon.

Not only gaming: the NFT market

Despite what one might think, it is the collectibles sector and not gaming where we find NFTs to be most successful.

However, overall, according to figures released today by Reuters, the volume of NFT sales rose to $2.5 billion in the first half of 2021.

This is a new high marked in the second quarter of this year with $2.5 billion in sales, compared to just $13.7 million in the first half of 2020.

Also according to this report, OpenSea established a new personal best in June 2021, with $150 million in NFT sales.

In addition, NFT buyers have become over 20,000 per week since last March, according to data reported by NonFungible.com, which compiles these reports when it comes to the Ethereum blockchain. In total, then, the buyers are many more if we count that NFTs are now also found on Cardano, Zilliqa, EOS and Bitcoin Cash.

 Also according to NonFungible.com, during 2021, the primary and secondary markets experienced a lot of hype for NFTs, especially in May.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and she is about to publish her first book about Blockchain Marketing.

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