What is an NFT and why are they the future!
A Non-Fungible Token (NFT) is what is known as a crypto-collectible. It is a token or crypto-token that is unique, meaning it has limited supply and has an attached digital asset. Non-fungible tokens are the future because they can be used for gaming, for reward systems, and to document individual ownership of property. The most popular use of NFTs is for gaming. For instance, CryptoKitties, an Ethereum-based game released in late 2017, allows users to buy, sell, breed, and trade digital kittens. CryptoKitties are Non-Fungible Tokens or NFTs CryptoKitties.
NFT’s Explained
What is an NFT?
Non-Fungible Tokens (NFTs) are becoming the most popular way to encrypt digital assets on blockchain projects.
The NFT is an item that cannot be broken down into components. NFT’s are typically not fungible (meaning they can’t be substituted with another asset), meaning one NFT will always be more valuable than another.
An example of an NFT would be a digital collectable. Like owning a physical trading card, but a digital version of it.
The future of gaming, real estate and other industries
NFTs are the new future in gaming. They are used in all sorts of ways but in this section, lets focus on how they are use them in the game Cryptokitties.
Cryptokitties is a game where players buy and trade digital cats. These cats have different attributes which are called cattributes. These cats can be bought, given in return for breeding, or transferred when players are done with them.
The reason that these cats are so popular is that they are yours. When you bread a kitten, it is yours, you can sell it, or bread it, or remove it from the game.
NFT’s are the future and we’ve only scratched the surface.
NFT’s are the future for sure!
They are all the rage in the gaming industry and they will be huge in other industries like real estate soon enough. If you’re looking to build a successful business in gaming, real estate or any other industry, knowing how to utilize NFT’s is a must. Our team has only scratched the surface on what they can be used for so the sky is the limit!
