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Cryptocurrency and Non-fungible token (NFTs)

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amitcryptoguy

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NFT (non-fungible token) is one of the applications of blockchain technology and has been widely adopted by the art, gaming, sports and entertainment industry. It is a unit of the data that is stored on a digital ledger which certifies ownership to a digital online asset.

It can be potentially used to digitally trade assets such as a paintings, pictures, videos, music etc. without any third party alterations. The trading of these assets happens with different cryptocurrencies based on the marketplace compatibilities.



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#1 - December 30, 2021, 02:10:10 PM
« Last Edit: January 16, 2022, 09:31:36 PM by Mikser »

Cica

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NFTs!!!
  
Optional Perpetual Royalties is one of many Solid Use Cases.
#2 - February 02, 2022, 12:49:42 PM

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Quote from: Cica on February 02, 2022, 12:49:42 PM
NFTs!!!
 
Optional Perpetual Royalties is one of many Solid Use Cases.
Can you give some examples of the royalties you mentioned?
#3 - February 02, 2022, 01:06:56 PM

Cryptocurrency and Non-fungible token (NFTs) in Coins & Tokens_topic=585

Cica

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First off, I have been watching the NFT action for awhile and one thing I have noticed is the comment that NFTs are only limited by the imagination.

That said,  I will provide an example to answer your question.  

  • I recently acquired an NFT, named it, set the NFT up with a sub-account, & tansferred it there.  That was done so the NFT has the ability to interact in a Multi-Chain Cross-Chain DeFi kind of way.
  • The Defi action provides rewards.  Yes it is true that the DeFi action requires two assets to secure it, but once those assets are assigned the Rewards are Perpetual provided the assets are not pulled and assigned elsewhere.
I called what I put together Perpetual Royalties/Rewards because that's how I imagined it, but it could easily be called something else.  

  • NFTid - An NFT connected to Verified Identity Documents.  This is something new-ish, at least for me it is... 

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I would also like to mention that Signum:USDx is currently being successfully used for P2P Lending and it's a really simple & clean system.  If anyone would like more info on this, just hit me up with a Message.


#4 - February 12, 2022, 11:56:30 AM

Cica

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#5 - February 22, 2022, 11:23:50 AM

ratblock3

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Quote from: amitcryptoguy on December 30, 2021, 02:10:10 PM
NFT (non-fungible token) is one of the applications of blockchain technology and has been widely adopted by the art, gaming, sports and entertainment industry. It is a unit of the data that is stored on a digital ledger which certifies ownership to a digital online asset.

It can be potentially used to digitally trade assets such as a paintings, pictures, videos, music etc. without any third party alterations. The trading of these assets happens with different cryptocurrencies based on the marketplace compatibilities.
This seems new to me that NFTs are being utilized in the gaming and sports industry 🤔 Can you provide examples of NFT companies that may be utilizing them in both industries? Thanks!!!
#6 - April 12, 2022, 09:32:46 AM
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