NFT or Non-Fungible Token, is a special type of cryptographic token that uses blockchain technology to create digital assets that cannot be reproduced.
Duplicate tokens are different from known exchangeable cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) or Monroe (XMR), for example you can exchange one bitcoin for another bitcoin.
Although NFTs are used in a variety of industries, they are mostly used in the field of gaming and digital collecting, and are often built to ERC-721 on the Ethereum platform. although in 2021 the use of irreplaceable tokens on other block chains such as Protocol BEP-721 China Binance Smart also began to develop. A greater example of NFTs is the newly popular token, Nokon.
Features and Benefits of NFT Crypto
Rare: The value of irreplaceable tokens is due to their rarity. Although NFT developers can make as many of these tokens as they want; But by limiting their number, they increase their rarity.
Indivisible: Although this is not the law, most irreplaceable tokens are not broken down into smaller units, you either buy an entire piece of digital artwork or you do not buy it at all.
Uniqueness: This is the most important feature of an NFT. NFTs have tabs of fixed information that record their uniqueness. Look at this feature as a certificate of authenticity.
Transferable: Unlike tradable tokens, non-exchangeable tokens are traded in certain markets. Their worth, however, is determined by their rarity.
Original: Irrevocable tokens are based on block chain technology, so you can be sure of the authenticity of your NFT, as it is almost impossible to make something fake in a decentralized immovable ledger.
Proprietor: This also refers to NFT’s use of decentralized platforms where no owner can change data after registration. This has made NFTs the best tokens.
Why NFTs Are Valuable?
Gamers and collectors can now become the immutable owners of in-game items and other unique assets, and profit from them, thanks to blockchain technology. In some cases, players can build and monetize structures such as parks in the virtual world, such as The Sandbox and Decentraland.
Players can also sell individual digital things earned while playing, such as costumes, avatars, and in-game money, on secondary marketplaces. Artists can sell their digital work directly to audiences all over the world without having to go through auctions, allowing them to keep a larger portion of the sale proceeds.
Royalty can also be coded as digital art, with the creator receiving a share of the sales proceeds each time a work of art is sold to a new consumer. Artists can sell their digital work directly to audiences around the world without the need for auctions, thereby retaining a greater share of the profits from the sale.
Royalty can also be programmed as digital art, and each time a work of art is sold to a new customer, the creator receives a percentage of the sales profit.
Known as Captain Kirk in the Star Wars series, William Shatner entered the field of digital collectibles and issued 90,000 digital cards of his image on the WAX blockchain store, receiving $ 1 per card, and each time, this the cards are resold and earned from their copyright.
What Are the Best NFT Tokens and What is Their Future?
If we want to explain this with an example, we can compare two NFT tokens to two different houses. It is true that the nature of both houses is the same, but their value depends on their dimensions and location; It is not possible to exchange these two houses with each other.
The same is true of NFT tokens, which is why they are called non-replaceable tokens. Now that we know the difference in value between each NFT token, knowing the list of the best NFT tokens for investing is especially important. Therefore, in the continuation of this speech, we will introduce the best irreplaceable tokens of 2021.
What Are the Best NFT Tokens?
As mentioned earlier, NFT tokens are known for their non-exchangeability or uniqueness, and this feature distinguishes them from digital currencies such as Bitcoin, dogecoin or other currencies. In economics, a convertible asset is something that has specific units and can be easily exchanged; For example, Fiat currencies and digital currencies are examples of exchangeable assets.
In other words, the value of each bitcoin is equal to another bitcoin and these two can be exchanged with each other, or if we want to give another example, we can say that the value of one 10 thousand dollars is equal to another 10 thousand dollars.
Therefore, what is irreplaceable cannot be replaced by anything else. NFT is a unique asset in the digital world that can be traded like any other asset, but there is no tangible form of it. Certificates of ownership of virtual or actual assets can be represented by digital tokens.
But how do you work with these tokens and what are their benefits?
In fact, traditional works of art, such as paintings, are valuable because they are unique in their kind. But digital files can be easily and endlessly duplicated and copied.
That’s why NFTs came into being. Using NFTs, you can create a digital ownership certificate or document that can be traded by creating “artwork” tokens, and just like cryptocurrency, the ownership records of virtual objects in a common office called the China Blockchain can be specified. Is saved.
The advantage of these records is that they are not forged because this notebook (blockchain) is maintained by thousands of computers around the world. NFT can also include smart contracts and give the owner the privilege of selling tokens in the future.
do you think something can stop people from copying digital art?
In fact, nothing can stop people from copying artists’ works of art. For example, we can refer to the artwork of Beeple.
Beeple art sold for $69 million, and the image has been copied and shared over and over again. In some cases, artists retain copyright so that they can produce and sell copies of the design.
But NFT buyers have a token that proves they own the original work, and some people think buying a work of art from an artist is like buying a traditional, artistically signed work of art, and are even willing to spend millions of dollars on it.