Next Big Thing in the blockchain market; NFT
Today, we’ll talk about NFT.
You may hear about this word. If you are interested in Blockchain or virtual assets.
NFT is being popular among the people and experts hope that the upcoming year 2021, will be the rise of NFT.
And you might be wondering. What’s an NFT, anyhow?
Non-Fungible Tokens. A tokenized version of Digital/Real-world assets.
A Non-Fungible Token or NFT is a special kind of cryptographic token that represents any unique asset. These NFTs operate as verifiable proofs of authenticity and ownership inside the blockchain network. The NFTs are not interchangeable which introduces scarcity in the digital world of assets.
NFTs are the building blocks of a blockchain-powered or distributed ledger-powered world. These NFTs find application in several digital items and processes such as crypto gaming. The notable and first use-case of NFTs in the crypto-collectible trading card gaming.
NFT platforms such as CryptoKitties and Decentraland built their NFTs on the Ethereum standard known as ERC-721. Although, other smart contract-enabled blockchains such as Binance Smart Chain (BSC), NEO, EOS, and TRON also offer their own NFT standards which support the creation of NFTs on top of each blockchain. Recently, another improved standard known as ERC-1155 was launched, which enables a single contract to contain both fungible and non-fungible tokens.
Now we are thinking about AUC project’s NFTs. It could be collectibles, gaming, identity, art, or real assets.
So, keep an eye on us.
Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road.
- Stewart Brand, writer