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What are nft coins ?

in seo links on 16/04/2021

What are nft coins ? NFT coins or token with its own unique identifier. Unlike other cryptocurrencies such as bitcoin, all NFT coins are different. They are not interchangeable, this is how NFT is translated – non fungible token. It can be tied to a unique object in the real world, which makes them popular in the field of art, allowing you to virtualize an object such as a painting or sculpture. At the same time, the NFT token will not disappear anywhere, it is tracked. Read on to learn more about what are nft coins.

NFTs allow the transfer of ownership of any digital asset. Including such a token can serve as collateral when a loan is provided by one user to another at interest in cryptocurrency ecosystems.

Non-fungible tokens have become a clear trend in 2021. For their release, convenient marketplaces have appeared where you can create a token without any special technical skills. NFTs are actively being introduced into the art field. They can also be fully used in the entertainment industry: in games, movies, music. In the future, such tokens may become one of the ways for the development of the copyright market, since they have been looking for an effective model for managing digital assets for many years.

What are nft coins ? Right to an asset

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Vector design - Adam of the 21st century
Vector design – Adam of the 21st century

It is noteworthy that the approach to advertising the first cryptocurrency in the United States is very straightforward: banners with text are placed on billboards, the information message of which boils down to stating the fact of the dollar’s depreciation and offering bitcoin as the only guarantee of safety and augmentation of funds.

One way or another, the prospect of easy money to the extreme whetted the financial “appetite” of a huge number of people, including those with significant sums. The cryptoindustry attracts them not only with potential profits, but also with the opportunity to amuse their vanity by joining one of the trendy crypto communities that unite holders of one or another digital asset many still perceive them as a kind of closed VIP clubs for initiates.

Perhaps it was thanks to a hefty increase in demand for everything related to cryptocurrencies that a new trend began to gain momentum in 2021 NFT tokens.

The behavior of investors, many of whom know firsthand about the huge profitability of investments in certain crypto assets, is quite natural. The desire to stand out, to boast of something unique and unrepeatable in front of your fellow crypto enthusiasts creates a demand for rare non-fungible NFT tokens, which can now be classified as a new class of virtual assets.

Usually, the sale of unique “things” takes place through an auction, at which the owner sets the starting price for the lot: whoever offers more will get it. One of the first and most popular marketplaces is the OpenSea blockchain auction.

The most expedient today is the development of the NFT-economy in the following spheres of social and labor activities of a person.

Gaming. Players are willing to pay to be able to play a unique NFT-character, dressed in exclusive “clothes” and possessing a unique “weapon”. A promising direction in the development of NFT gaming is interoperability, which allows the use of objects or a character in various game environments outside the game “sandbox” where this character or object was created.

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NFT Bitcoin & Ethereum Party
NFT Bitcoin & Ethereum Party

Collectibles. There are also enough exclusive items in the “analog” world offline. If a person wants to auction a collectible bottle of wine, designer tableware, exclusive clothing created by a famous fashion designer, or any other “piece goods” NFT tokens will perfectly cope with this task: the issuer can include information about the item being sold in the description of his token, available to be viewed in the block explorer.

Show Business. Fans and fans are the bread and butter of YouTube stars, streamers and TikTokers. The ability to chat with your idol live or even face-to-face is the ideal growth medium for NFTs. Despite the fact that these actions can be carried out without the “star” issuing their own NFT-tokens, they can become a kind of digital autograph with a limited supply. A fan will always be able to prove that he really discussed the launch of a rocket to Mars with Elon Musk or spoke by voice with Pavel Durov.

Education. Every year, thousands of employers around the world are faced with the problem of forgery of diplomas by potential candidates for open positions, and these frauds are often not immediately revealed. The problem of forging diplomas, certificates and other documents is easily solved by issuing NFT tokens that would display the necessary information on the blockchain. In fact, the mechanism for this has already been developed and even debugged all that remains is to introduce the tool into the education system and other related industries. Universities can issue NFT tokens once a year (and any other government agencies as needed), to which all identification data will be assigned.

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NFT ART - The red man goes into a white circle
NFT ART – The red man goes into a white circle

Digital art. Picasso and Rembrandt probably would have sighed sadly upon learning about the development of digital technologies, which led to the fact that artists now paint pictures not on canvases, and the masterpieces themselves are not created with a brush, but with the help of special design programs. The demand for digital paintings is growing every year.

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Robot icon - Red head robot
Robot icon – Red head robot

This twist of human psychology can be explained by recalling the Swiss Rolex watches, which rich people buy almost exclusively in order to emphasize their high social status and to emphasize their belonging to a certain circle of persons. But how can this be done in the digital world? The answer is obvious post the purchased digital picture as an avatar, for example, on Twitter. Everyone using the blockchain will be able to check whether it really belongs to the account owner.

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