Topic: What Are NFTs? (Read 206 times)
NFTs is slowly getting more and more notice recently which was why some DeFi projects out there are implementing NFTs of all sorts from cards, digital arts, and even in-game items to boost community engagement and of course business in the process. So yeah, NFTs are becoming more and more relevant by the day, and I'm more confident this will only increase in the future.
just sharing thoughts!
I think this year NTFs will become a trend (just for self-preparation), the trend is over with DeFi and NFTs have not shown a trend since 2015 (since the beginning it is implied).
I think this year NTFs will become a trend (just for self-preparation), the trend is over with DeFi and NFTs have not shown a trend since 2015 (since the beginning it is implied).
In the Bitcoin world, the non-fungible token is called a "colored coin": https://en.bitcoin.it/wiki/Colored_Coins
In regards to the Odolvlobo post you quoted, I think thesame could be said of something like Holding & Staking. Instead of reinventing the wheel, you could simply replace the word Stake with Hold in Bitcoin World and make things work like typical staking. An investor buy some bitcoin, hold, timelock for certain period of time and earn extra income from future increase in price of Bitcoin... Or the investors could be paid with another coin/token during the holding/staking period. This could even earn better than staking on coins that are not that scarce or don't increase in price like Bitcoin.
By the way, I wonder what they didn't continue with the colored coins.
just sharing thoughts!
I think this year NTFs will become a trend (just for self-preparation), the trend is over with DeFi and NFTs have not shown a trend since 2015 (since the beginning it is implied).
I think this year NTFs will become a trend (just for self-preparation), the trend is over with DeFi and NFTs have not shown a trend since 2015 (since the beginning it is implied).
In the Bitcoin world, the non-fungible token is called a "colored coin": https://en.bitcoin.it/wiki/Colored_Coins
I hope everybody should know about nft. Also for those people who are creative and finding a best place to show their talent and also get a value able rewarded. I also mentioned freelance graphic designer. Who work on freelancing site where has too much competition that is why they didn't paid higher value for their creative hard work. If they choose nft platform as a crypto artist. Then they can get higher reward plus we know that crypto is future. Soo nft is also a future. So this is a best time to rankup their profile in this lower competition Field.
based on my opinion , NFT is token which it not have any function like common token , i mean like SLP( small love potion ) from axie infinity, its have nothing function rather than on the game it self, i mean that NFTs will/still have a value when the project behind that NFT still active, cryptokitties , etc . the point , it is will have no value based on currency from a general perspective , u must know what category NFTs is and well , sometimes u must learned too.
By context definition, Non-Fungible Tokens means that it can't be exchanged for other items for other identical item, each token is sort of unique which means that they can't be changed. They come in different forms, one of them is Decentralized arts, cryptograph and some games. One that I know is the Small Love Potion in Axie and the Crypto Kitties. There isn't much in NFT yet because it is still fairly new with the first that I know of started in 2017.
The drop on niftygateway collected in the first second - 200 NFT works of art for $ 999 each.
The collection was only open for 5 minutes. The cumulative result - 705 NFT images were purchased. 705 thousand dollars in 5 minutes.
The wonderful world of crazy crypto investments
The collection was only open for 5 minutes. The cumulative result - 705 NFT images were purchased. 705 thousand dollars in 5 minutes.
The wonderful world of crazy crypto investments
One other importance of this is the fact that they are somehow called collectibles. Like the vintage coins or some other stuff that people collect because they are rare and will never have the same print again so it will get valuable.
Baseball cards are a great example because they won't ever be printed the same way again, pokemon cards for example is a good example, I still have over a thousand of those in my possession which I have no idea how much they worth, I know for a fact that couple of them worth ten bucks or so which means I have some that worth something but I never really checked how much all of them worth and tried to sell it.
None of the NFT's are that valuable, of course people may decide that it does worth that much and make it expensive but in reality the companies feel too centralized and can change the value of it if you ask me, no printing company can print the pokemon cards the same way ever again but collectible coin companies can still print them technically speaking so they actually do not get more valuable with time like those collectibles.
Baseball cards are a great example because they won't ever be printed the same way again, pokemon cards for example is a good example, I still have over a thousand of those in my possession which I have no idea how much they worth, I know for a fact that couple of them worth ten bucks or so which means I have some that worth something but I never really checked how much all of them worth and tried to sell it.
None of the NFT's are that valuable, of course people may decide that it does worth that much and make it expensive but in reality the companies feel too centralized and can change the value of it if you ask me, no printing company can print the pokemon cards the same way ever again but collectible coin companies can still print them technically speaking so they actually do not get more valuable with time like those collectibles.
As the world is moving on, an NFT (ERC-721 token) presents as a new form of uniqueness and authenticity in the age of Blockchain.
https://www.hb-wallet.com/post/what-are-nfts
Well, it would be better you give us some summary about them here rather than linking us to an external page, if people wanted to go to external page other than bitcointalk, they would have done so, and Is this Ethereum product or what? Because I am not sure I have heard of this chain before, and what are the benefits of it that makes it greater than the Ethereum blockchain or better that the other chain that are already establish like that of EOS and Binance. https://www.hb-wallet.com/post/what-are-nfts
I don’t usually fall for all these type of hype because this virtually how every projects starts too, they are always feeling like the best, and then they end up below the 2000 rank in the coin market cap, anyway, I will look into it and hope that it will be a chain worth the time and attention.
In the Bitcoin world, the non-fungible token is called a "colored coin": https://en.bitcoin.it/wiki/Colored_Coins
I think in order to make this a reality you have to actually follow with the idea you started out with and not keep innovating to make more profits.
Crypto kitties was something I got in a lot later than some early people did but after I got in I just wanted to have couple of kitties and possibly just breed my way into having almost all of the big genes if I could with as low generation as possible but instead of actually buying them I would breed them myself.
After I started working for that something happened, something that dropped the price of all kitties, crypto kitty firm decided to print out more kitties in some celebration and then for advertisement of a company, than something else.
Crypto kitties were valuable because there is a limited amount of them, but people realized since the company will eventually ran out of selling their kitties, they had to keep making money and thats why there wasn't limited amount of kitties, they would keep on creating new kitties all the time and there will never be a period where new kitty was unavailable, so the limitless amount of kitty caused the prices to plummet. If you can find a way to profit and make it limited then it can be good but if you keep printing new NFT then it will never work.
Crypto kitties was something I got in a lot later than some early people did but after I got in I just wanted to have couple of kitties and possibly just breed my way into having almost all of the big genes if I could with as low generation as possible but instead of actually buying them I would breed them myself.
After I started working for that something happened, something that dropped the price of all kitties, crypto kitty firm decided to print out more kitties in some celebration and then for advertisement of a company, than something else.
Crypto kitties were valuable because there is a limited amount of them, but people realized since the company will eventually ran out of selling their kitties, they had to keep making money and thats why there wasn't limited amount of kitties, they would keep on creating new kitties all the time and there will never be a period where new kitty was unavailable, so the limitless amount of kitty caused the prices to plummet. If you can find a way to profit and make it limited then it can be good but if you keep printing new NFT then it will never work.
As the world is moving on, an NFT (ERC-721 token) presents as a new form of uniqueness and authenticity in the age of Blockchain.
https://www.hb-wallet.com/post/what-are-nfts
https://www.hb-wallet.com/post/what-are-nfts
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