NFT's are one of the most valuable contributions of cryptocurrency and the blockchain to commerce in the future.

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(Edited)

NFT or non-fungible tokens

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I am often told that the most valuable contribution that cryptocurrency will make to the world, will be the blockchain. Bitcoin is important and definitely an attention getter, but the ability of the blockchain to create efficiencies will definitely have worldwide impact. However I think this statement ignores the impact of NFT's.

Non-fungible token - Wikipedia Definition

A non-fungible token (NFT) is a special type of cryptographic token which represents something unique; non-fungible tokens are thus not mutually interchangeable. This is in contrast to cryptocurrencies like bitcoin, and many network or utility tokens that are fungible in nature.

The monetization of video games and the system that allows players to own and trade the armor and weapons they win in a video game is NFTs.

The Famous game Splinterlands depends on NFT tokens

Game cards in this game were initially just dihgital art, but the breakthrough came when they were turned into NFT. Now they sudden were owned by the players and also could be bought and sold independently of the game in theory. Splinterlands is a game which put made the Steem-Engine side chain developers famous, and possibly rich.. or at least able to quit their day job!

Tokenization od assets is very big also

Asset Tokenization using NFT is at the heart of the NFT gallery

Where digital art pieces are tokenized or represented digitally as NFTs allowing them to bought, sold and traded all over the world. In any industry the size of the market is tantamount and NFTs enlarge the market.

Asset tokenization using NFTs is at the heart of revolutionary real estate refinancing without banks

...through a process called Fractional Tokenization. Where pieces of real estate are broken up into smaller pieces, which cost less, and increase the size of the market or size of the potential pool of buyers. It's the same principle as Bitcoin being broken into Satoshis, but each seller decides how many pieces, two, ten, 100, 1000 or one million. It's all about increasing the size of the market.

Asset tokenization using NFTs is at the heart of selling super expensive works of art through a process called Fractional Tokenization...

Where pieces of art are broken up into smaller pieces, which cost less, and increase the size of the market or size of the potential pool of buyers. It's the same principle as Bitcoin being broken into Satoshis, but each seller decides how many pieces, two, ten, 100, 1000 or one million. It's all about increasing the size of the market.

Last Words...

Tokenization is the creation of NFTs or non-fungible tokens to represents assets. It's a is used in gaming, and traditional commerce involving art and real estate. Using NFT's is like magic.

But the interesting thing is that just like an Operating system on a computer, over time it becomes invisible, as people focus more on the products being offered then on the method by which they are offered.

How many people playing Splinterlands care about NFTs or even know what they are? They just want to know their cards are secure and unique.

When you look at Ethereum the blockchain and Ether the token, the creation of ERC NFT tokens was one of the catalysts for many of the successful dApps on like crypto kitties on Ethereum to Splinterlands on Hive. The utility drives the token and blockchain adoption, and this is one thing which drives value. Any blockchain can do this, but a DPOS blockchain has fast, free transactions and scaleability. This is the future, will we embrace it?

@shortsegments

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11 comments
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It reminds me how I blindly jumped into yearn and Curve without even knowing the wrapping/NFT concepts :D
Such a fool move, lucky nothing bad happened...

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Those were heavily marketed products which atracted many. Are you still invested there?

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I discovered DeFi through them. And yes still invested in curve/3pool and yearn/yCurve vault.
I’ll be happy you suggest a better place to be invested ;)

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I bought some 2 NFT tokens for 0.5bnb and it dawn on me that they are worth less even when they are selling one for 0.5 bnb now..I think more information on this tokens needs to be released

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Sorry to hear about this investment. There is definately risk in tokenization, as in the asset must be monitored for value. In tokenization circles there are

  1. custodians
  2. oracles
  3. the job of the custodian is clear, hold the native asset, the job of the oracle is to monior it's value. But if you bout NFT with BNB I hope there is a market where you can recover your investment. I would suggest checking token websites like www.coinmarketcap.com www.worldcoin.com and googling cryptocurrency token lists to find other sources. These will list the token and the market its on, along with the volume on that market. If you go to www.coinmarketcap.com and look up hive you will see an example of what I mean.
  4. Good Luck
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Aren't most wrapped DeFi pool tokens regular fungible tokens (e.g. ERC20s on Ethereum)? I can't really see much reason for pool shares to be NFTs for most DeFi use cases.

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