What is NFT? - page 4. | Bitcointalksearch.org

arifinislam7777

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Quote from: manfredmann on November 28, 2020, 07:26:48 PM

Quote from: BryanJohn on November 15, 2020, 03:37:14 AM

Quote from: Harrison chinoye on November 09, 2020, 03:40:10 AM

I think 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.

yes is a Nonfungible Tokens
NFT is a crypto token that is used in the gaming industry, art, collectible transactions, and many other areas. Supported coins: Ethereum, Tron, EOS, NEO

So after Defi projects here comes the NFT projects. What could really be the difference of these type of project to ICO, STO, IEO AND.DEFI?

I do not understand they created that much projects but really not working. There may be few that are actually good but in the long run it had develop problems in their platforms and scammers are everywhere ruin the kind if fundraising activity. You see that scammers too could create their own defi projects and being run by a newbie. There are many of this in the altcoin and bounties section.

Anyway, I a hoping that NFT will shows a good way of fundraising activity and that scammers could not make it to this kind of crowdfunding or will be distinguish if ever they will also create their own NFT projects.

pangu

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NFTs on OpenSea are breaking all-time records:
- $1.9m in daily sales volume
- 356k users in January

https://twitter.com/opensea/status/1356658501670625280

Malam90

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Quote from: kpierce77 on November 29, 2020, 06:18:39 AM

Quote from: Malam90 on November 29, 2020, 12:16:58 AM

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

Each NFT token is distinguishable to other token of same NFT project. It is basically perfect for online gaming and known as digital collectible in gaming world. Every new trend draws attention of the crypto lovers, hence NFT is playing same role. Holding or trading NFT tokens can be profitable before ending trend.

bitcoin-shark

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nft are practically collectible tokens like kittens / cryptokitties or how digital stamps issued by Austria,they are on the eos and wax blockchains to get a concrete idea you can visit this market where you can find all the nft released up to now https://wax.atomichub.io/market

nomenclatur

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Quote from: Pffrt on November 08, 2020, 12:22:07 PM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

NFT is almost like an image or cryptography that has a lot of selling value. Currently, NFTs are sold on trust wallet. Many people use NFT to get a lot of money and investors can make a lot of profit for projects like Defi which are used to make profits, such as project dego finance which makes Several NFTs for mining with different levels are very profitable because many investors are interested in trying their luck.

uneng

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Some differences of nonfungible tokens over fungible ones:

they are built in ERC-721 protocol instead of ERC-20;
they aren't divisible like common crypto currencies (like 0.001 btc, for an example);
they are more related to collectibles and games content than currencies themselves.

NFT is going to be very popular in few years, especially in gaming industry, as each game's item will be a NFT with physical monetary value , what means you can sell them for real money and you own them even outside the game. Some concepts already think about creating shared items among different games.

oliviarobert

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A non-fungible token(NFT) is a special type of cryptographic token that represents something distinctive, non-fungible tokens are not mutually interchangeable by their specification.

To generate verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms, non-fungible tokens are used.

zasad@

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Quote from: kpierce77 on November 29, 2020, 06:18:39 AM

Quote from: Malam90 on November 29, 2020, 12:16:58 AM

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

In this thread, I collect all interesting projects and games that use NFT tokens.
https://bitcointalksearch.org/topic/defi-nft-tokens-project-5278144
This market is constantly growing, and new interesting projects appear every month. But the biggest prospect for these tokens is blockchain games.
Gamers are ready to spend huge money on skins.

Warkop

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Quote from: Pffrt on November 08, 2020, 12:22:07 PM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Personally, I think NFT is one of the main development blocks of a new digital economy powered by blockchain. Several projects are experimenting with NFTs for various uses, such as games, digital identities, licenses, certificates, and fine art. What's more, this technology even allows fractional ownership of high-value items.

As NFTs become easier to build, we can see more and more of these new asset types being created every day.

A non-fungible token (NFT), also known as a crypto collectible, extends this idea. Unlike cryptocurrencies where all tokens are created equal, each non-fungible token is unique and limited in number.

marcous

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Well after DEFi boom the next is NFT. Several projects are experimenting with NFTs for various uses, such as gaming, digital identity etc. Maybe it will be a transeter in 2021 after DEFI. It is possible that many coins that have been listed on the exchange will collaborate or partner with NFT projects such as Cryptokitties

kpierce77

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Quote from: Malam90 on November 29, 2020, 12:16:58 AM

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

Rodeo02

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This article to can help you to understand more about NFT tokens https://academy.binance.com/en/glossary/non-fungible-token-nft .

They have different types of collectibles tokens that you can see if you are using meta mask. The first one is created in 2017 or 2018 crypto kitty ,they become popular now because there are games that help many people to earn money while playing games at home playing axie infinity. there are more games will follow and already under developelment .

Malam90

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Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

jamkesmas

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Quote from: Pffrt on November 08, 2020, 12:22:07 PM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

I have also participated in a project like that which issued an NFT to mine and get stake every day, but I did not continue it because it needed too much capital.

manfredmann

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Quote from: BryanJohn on November 15, 2020, 03:37:14 AM

Quote from: Harrison chinoye on November 09, 2020, 03:40:10 AM

I think 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.

yes is a Nonfungible Tokens
NFT is a crypto token that is used in the gaming industry, art, collectible transactions, and many other areas. Supported coins: Ethereum, Tron, EOS, NEO

So after Defi projects here comes the NFT projects. What could really be the difference of these type of project to ICO, STO, IEO AND.DEFI?

I do not understand they created that much projects but really not working. There may be few that are actually good but in the long run it had develop problems in their platforms and scammers are everywhere ruin the kind if fundraising activity. You see that scammers too could create their own defi projects and being run by a newbie. There are many of this in the altcoin and bounties section.

Anyway, I a hoping that NFT will shows a good way of fundraising activity and that scammers could not make it to this kind of crowdfunding or will be distinguish if ever they will also create their own NFT projects.

chinkson

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Sorry I am a bit late to the conversation.

As other have stated, an NFT or non-fungible token, is a token or a digital representation of a unique real-world asset. Stepping away from cryptocurrencies for a second, a $1 bill is fungible since it is interchangeable with other $1 bills. For example, if you lend your friend a $1 bill, he does not need to give you back the same $1 bill. In other words, all $1 bills are the same.

On the other hand, a car is non-fungible. If you lend you friend your car, he has to give you back the same car since cars are not interchangeable. NFTs works this way. therefore 1 NFT token cannot be traded for another since they represent unique things. This makes NFTs great for digital artwork, gaming items, and other collectibles.

If you want to learn more about NFTs I explain them a bit more here:
https://cryptodefinitions.com/dictionary/non-fungible-token-nft/

BryanJohn

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Quote from: Harrison chinoye on November 09, 2020, 03:40:10 AM

I think 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.

yes is a Nonfungible Tokens
NFT is a crypto token that is used in the gaming industry, art, collectible transactions, and many other areas. Supported coins: Ethereum, Tron, EOS, NEO

Sayeds56

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Quote from: Pffrt on November 08, 2020, 12:22:07 PM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

NFT is an attempt to create hype in crypto space as most of DEFIs projects have started losing their ATH price. Following the footsteps of DEFIs , NFT space has also started issuing governance tokens, this may help industry to gain traction in the Liquidity space.

Febo

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Quote from: Pffrt on November 08, 2020, 12:22:07 PM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Gold is fungible. 1 ounce of gold is totally identical to other ounce of gold. Even if have a stamp on it or is in a shape of rare coin you can still met it down and will look juts like any other ounce of gold.
Mona Lisa painting is not fungible. There is only one. If you try to copy it many will see it is a fake replicate.

sotoshihero

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Quote from: pedrillo0 on November 09, 2020, 03:02:20 AM

Quote from: Pffrt on November 08, 2020, 12:22:07 PM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

There are 2 types of tokens

* Fungible ERC-20 and ERC-1400.
* NonFungible ERC-721

The first tokens are those of utility or security and are used for payments, legal processes or financing projects.

NonFungible tokens represent something unique, such as some valuable object, asset or real life services. They are the future ..

This is something new to me this ERC - 721. Though I am familiar with some NFT tokens, other possible uses are waiting to be develop or discovered. Saying that they are the future what excites me. Decentraland for example is another good NFT project which garnered $26M from ICO.

From wikipedia

Quote

Growth and mainstream appeal
Non-fungible tokens made their way into mainstream news when CryptoKitties went viral[10][11] and subsequently raised a $12.5 million investment.[12] RareBits, a Non-Fungible Token marketplace and exchange, raised a $6 million investment.[13] Gamedex, a collectible cards game platform made possible by NFTs, raised a $800,000 seed round.[14] Decentraland, a blockchain-based virtual world, raised $26 million in an initial coin offering,[15] and had a $20 million internal economy as of September 2018.[16]. Nike holds a patent for its blockchain-based NFT-sneakers called ‘CryptoKicks’.[17]

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