What is a Non-Fungible Token and Why Should I Care

A Non-Fungible Token (NFT) is an online token that is uniquely identifiable and not interchangeable with another of the same type. It can be used for authentication, digital ownership, or to represent assets like physical property. An NFT is different than a fungible token because it is only transferable across certain channels. With fungible tokens, all tokens are equal and interchangeable — but with NFTs each token has its own value that may vary depending on where you are transferring them.

As cryptocurrencies become more mainstream, it has become increasingly important to understand what they are and why they matter. Here’s what you need to know about non-fungible tokens!

NFT LIGHTS

What is a Non-Fungible Token?

A Non-Fungible Token is an online token that is uniquely identifiable and not interchangeable with another of the same type. It can be used for authentication, digital ownership, or to represent assets like physical property. An NFT is different than a fungible token because it is only transferable across certain channels. With fungible tokens, all tokens are equal and interchangeable — but with NFTs each token has its own value that may vary depending on where you are transferring them.

In this post, we’ll explore how non-fungible tokens differ from traditional cryptocurrencies and what they offer your business in terms of marketing opportunities.

What is a Fungible Token?

A fungible token is a token that can be exchanged for any other token of the same type. Essentially, they are tokens that are interchangeable. A fungible token is not unique or identifiable. For example, if you have one bitcoin on the open market and another person in the market has one bitcoin, you can simply exchange your bitcoin for theirs.

As cryptocurrencies become more mainstream, it has become increasingly important to understand what they are and why they matter. It’s time to learn about non-fungible tokens!

A non-fungible token is an online token that is uniquely identifiable and not interchangeable with another of the same type. It can be used for authentication, digital ownership, or to represent assets like physical property. With NFTs each token has its own value and may vary depending on where you are transferring them. This allows personal information to be stored in a decentralized ledger that cannot be changed or manipulated in any way by anyone outside of their network of owners (the developers).

NFTs were originally created so that crypto-collectibles could exist without being copied over into different wallets/coins across networks vs. relying on centralized systems like other cryptocurrencies do today!

Why Should You Care?

As cryptocurrencies become more mainstream, it has become increasingly important to understand what they are and why they matter.

A non-fungible token is a digital token that is uniquely identifiable but cannot be interchanged with another of the same type. It can be used for authentication, digital ownership, or to represent assets like physical property.

Non-fungible tokens are different than fungible tokens because each token has its own value that may vary based on where you are transferring them. In other words, every NFT has its own history and story that makes it unique.

Non-fungible tokens have applications in blockchain that range from digital ownership to authentication. For example, CryptoKitties uses a non-fungible token that allows users to buy and sell virtual cats online — and claim ownership of their own unique cat!

Tokens with finite supply have been creating quite a buzz recently with initial coin offering (ICO) projects raising millions of dollars through pre-sale sales of their coins as well as recent interest in cryptocurrencies as an investment vehicle. Imagine being able to buy your very own digital currency or cryptocurrency at the time of its release before anyone else!

How to Use NFTs in Gaming and Fashion?

When it comes to the realm of gaming and fashion, non-fungible tokens are used for all kinds of different purposes.

Just like in any other industry, in the world of fashion and gaming, you need to make sure your customers are satisfied and interested in what you’re selling. With non-fungible tokens, this is easier than ever before!

NFT

One way these tokens can help you out is by making a physical item more valuable. For example, if someone wants to purchase a shirt off an online shop but they’re not sure if they’ll like the design or not — they could purchase an NFT that represents the shirt then have their friends try it on so they know how it will fit them before buying it. If something doesn’t exactly fit right then they can sell their token to someone else who might be able to use it. This solution makes sense because now there’s another person willing to pay a higher price for it in case something goes wrong with their purchase!

These NFTs are also used for digital ownership — think about apps on your phone where you’re buying something digitally and don’t want anyone else to access your account! With these transactions, no one has physical access to the product.

Conclusion

A non-fungible token is one of a kind and cannot be exchanged or traded with other NFTs. They are used in games such as CryptoKitties, a digital collectible game that uses the Ethereum blockchain to allow people to buy and sell digital cats with Ethereum. NFTs can also be used in fashion, such as creating an online marketplace for unique, limited edition items.

Founded by Andrew Left of Citron Research, a digital asset management company which manages cryptocurrencies.

www.entreio.com

www.clickoble.com

www.wiblly.com

www.99sidehustle.com

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