What is NFT? - page 5. | Bitcointalksearch.org

btc_angela

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Quote from: BryanJohn on November 09, 2020, 03:26:54 AM

(NFT)
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

I think this is where NFT will be used as I have seen art, regardless of digital or even the old and traditional now being sold or auctions with the help of this so called NFT. I'm still trying to learn it myself, but others have been calling it the next hype after the DeFi, but we will have to see.

Harrison chinoye

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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.

btcltcdigger

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To boldly go where no rabbit has gone before...

Quote from: zasad@ on November 09, 2020, 01:52:49 AM

2. The creation of new NTF tokens is costly. I wrote about the cost of creation in this post.
https://bitcointalksearch.org/topic/m.55176945

This bullet is not true anymore.
If you want to collect a NFT on Rarible, it will cost you roughly $5.
If you want to create a new collection, it goes up to $50, but no where near 0.6 ETH it was before

BryanJohn

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(NFT)
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

pedrillo0

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Nada y Tú?

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 ..

zasad@

legendary

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Highlights

1. NFT is (Non-Fungible Token), but each token can have many copies. And the more copies, the less its value.

For example, this token has 500,000 copies

https://opensea.io/assets/0x0760abbcade5fe056bbd79a625ca2e18c17dc0e8/1

2. The creation of new NTF tokens is costly. I wrote about the cost of creation in this post.
https://bitcointalksearch.org/topic/m.55176945

3.
It is much easier to create your own NTF token than ERC-20 token.
You need to upload your image and click a few buttons.
https://app.rarible.com/create

Slingshot

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As there's always debate regarding Defi and NFT but I fee NFT is more professional and could perform better with its characteristics. But I always tell people that NFT would supers Defi projects soon. Defi can be minted but NFT isn't same way because all tokens can be sold out. Defi Mints tokens once tokens in farm pools are farmed finish and alot that could crash the coin.

Pffrt

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How the token itself can be connected with the NFT? I just had read a few of the above suggestion but didn't get any idea about this one (will check once again) as I barely had invested in such NFT. Is it some sort of ICO?

zasad@

legendary

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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?

Explore this topic
Everything you need to know about NFTs tokens
https://bitcointalksearch.org/topic/everything-you-need-to-know-about-nfts-tokens-5274952

This is the ultimate guide to answer all your questions.
https://opensea.io/blog/guides/non-fungible-tokens/

This is a very promising direction
https://axieinfinity.com/
in a few years there will be a lot of such games

bitbollo

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Nec Recisa Recedit

I love to have a look on opensea.io since there are a lot of nice NTF including some digital art works.
Just as example most of the famous are cryptokittens and austrian stamps token. there are even some hype for some digital artwork or the land with sandbox.
It's a new market for sure, austrian stamps have a good success.
some others (what you can generate like cryptokittens) are probably over valued since there are too many pieces around and everyone can create it.

Jawhead999

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DGbet.fun - Crypto Sportsbook

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

There's something like NFT price which is probably greater than the token price.

Because it's non-fungible as NFT mean, it's not like Bitcoin or fiat that we know the value. Probably this site would help you to understand and differentiate between fungible and non-fungible [1]

[1] https://cointelegraph.com/magazine/nonfungible-tokens/#fungible-vs-non-fungible

ice098

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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?

Correct me if I'm wrong , I just observe this in one defi project I invest last month, they use NFT in farming , they will sell NFT ( Non-Fungible Token) in big parts not that are cannot be divided or by parts, then this will be use to farm another such as ETH or another token, they created dAPP wherein you will needed to exchange that NFT , it is commonly used now in farming and gaming. You may buy NFT and sell it in easy and faster way. Their tokens can be sell in uniswap, but in order to buy this NFT to them, you should be in the whitelist, since they sell it in few people only.

For more information and enlightenment you may refer with these articles:

https://cointelegraph.com/explained/non-fungible-tokens-explained
https://bravenewcoin.com/insights/what-is-an-nfta
https://www.coindesk.com/crypto-nft-trading-rari-yield-farming

I am new in NFT and in DeFi as well.

Pffrt

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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?

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