Non-Fungible Tokens or NFT’s are digital assets that represent real-world objects like arts, music, in-game items, and videos. NFTs will revolutionize the way we look at them and open new revenue opportunities.
2. What is an NFT?
NFT is the acronym in English for Non Fungible Token (non-
fungible token) and is a digital asset created using blockchain
technology. It is the same technology as bitcoins, but unlike
cryptocurrencies, NFTs are unique.
3. NFTs can be used to
● Collectibles
● Artwork
● Event tickets
● Virtual in-game objects
● Elements in virtual universes
● Real world assets
● Identity
● And many more..
4. NFT markets
Although there are dozens of markets where users can buy, sell and
auction their NFTs, there are few players who currently dominate
the game.
● Opensea
● Rare
● Nifty
● I will overcome
5. Expendable vs non-expendable
Fungible tokens (Bitcoin or other cryptocurrencies, for example) can be divided into sub-
units and are exactly the same as each other. For example: you cannot differentiate between
one bitcoin and another.
On the other hand, a non-fungible token is a cryptographic token that has the ability to be a
unique and unrepeatable token. One that cannot be divided but can be used to represent
objects in the real or digital world along with its own characteristics, as well as the
ownership of it, keeping all this within a blockchain representation through a smart contract.
6. Main benefits of NFTs
There are three key reasons why tokenization has the potential to make things even better:
Ownership - Blockchain technology helps prove your ownership while making the change of
ownership a much easier process almost instantly.
Transferable : they can be freely traded in specific markets. NFTs can also solve the "walled gardens"
problem in games, which means that one item can be exchanged for items in a different game, even
with a completely different editor.
Authentic : The biggest benefit, fraud prevention, a problem that affects everything from art to
tickets, collectibles and even fashion. Blockchain-powered NFTs are the perfect weapon against
counterfeiting while giving buyers the confidence that they will get what they paid for.
7. Some of the best known
projects
● Crypto-kitties
● Sorare
● Decentraland