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Wasario
, 10-08-2021 at 12:02 PM (752 Views)
NFT token (non-fungible token) is a unique digital certificate that is stored in the blockchain, guarantees the originality of the item and gives exclusive rights to it. This concept came from the world of cryptocurrency.
Non-fungible tokens cannot be imperceptibly substituted, divided, replaced. The system is suitable for securing rights to a unique object - a work of art, real estate, an artifact in a computer game.
Simply put, every record on the blockchain is called a token. In an open blockchain, all tokens are like coins of the same monetary denomination, are equal and fungible. This is how cryptocurrency money works: for example, one bitcoin can be easily replaced with another, and nothing will change.
But Non Fungible Token (NFT) technology is a game changer and works in a different way. A non-fungible token is a digital coin that cannot be replaced with another token without changing the value and essence of the object.
Like cryptocurrency, NFT is created on the blockchain, which acts as a database for recording all transactions. The blockchain guarantees the authenticity of non-fungible tokens. Thanks to this system, any user can check the original and history of a specific NFT through the blockchain.
By purchasing an NFT token, the user purchases a certificate for the work. In this case, the work itself does not move anywhere. It resides on eternal storage (IPFS). This certificate is, in essence, lines of code that confirm that the owner of the token is the owner of the original copy of the object. An NFT token has been compared to a painting that may belong to a gallery, museum, or individual, but the audience may see it in a catalog or at an exhibition.
NFT tokens are sold in marketplaces on the Internet. The creators of non-fungible tokens put them on trading platforms and wait for offers from buyers.
You can even create an NFT token yourself. To do this, you need to take a digital object (picture, music track, photograph, etc.), register in a special marketplace (for example, on the Rarible or OpenSea sites) and upload the object with a description and price there. On many services, you will have to pay a commission for creating a record in the blockchain, that is, a unique token.
If this article has inspired you to create an NFT marketplace, then welcome to us https://unicsoft.com/blockchain-deve...e-development/ we can provide everything you need, thanks to our more than 15 years of experience in e-commerce and more than five years of experience with blockchain to provide easy-to-use, transparent and feature-rich NFT marketplaces or tailor NFT for your existing market.
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Comments

  1. TaylorBlake's Avatar
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    Is this the new Bitcoin?
  2. Gerae's Avatar
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    For the first time ever, use this tool to combine your favorite photo with millions of color and graphic elements to create the most awesome pixel online avatar maker you have ever seen! It is not very often we see a good idea, and even less often we see it implemented so well. Your choices are virtually infinite, they're in full 3D, they rotate and zoom fluidly, they're easy-to-use and pleasing to look at.
  3. Aolorard's Avatar
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    An NFT, or non—interchangeable token, is used to create a digital impression for any unique item. Among them can be paintings, photos, videos, music, GIFs — in short, any content that claims to be at least some kind of uniqueness. They are of great value among collectors, gamers, and art lovers, and they buy and sell them through auctions. These tokens are stored in the so-called blockchain - a huge chain of blocks containing information. Unlike, for example, servers where data is stored in one place, these blocks can be located on many devices in various corners of the world where people are engaged in NFT Promotion.

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