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Flow is a new blockchain built for the next generation of apps, games, and the digital assets that power them. Flow crypto token is NOT available on Uniswap. Flow was designed from the ground up as a foundation for internet-scale protocols and applications that also require exceptional user experience. Conceived by the team behind CryptoKitties, Flow was developed and stress-tested with top global partners and is now open for anyone to contribute to and benefit from.
For those who do not know CryptoKitties, it is a blockchain game on Ethereum developed by Canadian studio Dapper Labs that allows players to purchase, collect, breed and sell virtual cats. It is one of the earliest attempts to deploy blockchain technology for recreation and leisure.
It is a game centered around breedable, collectible, and oh-so-adorable creatures called CryptoKitties. Each cat is one-of-a-kind and 100% owned by you; it cannot be replicated, taken away, or destroyed. In CryptoKitties you can breed and adopt Kitties of all colors and shapes. You can create Collections of your favorite cats and share them with our breeding community.
NFTs have applications that are beyond digital art and sports memorabilia. The financial use cases for this technology could potentially include NFT-backed loans, insurance, investments, ownership of rights, and debt management.
How long will it take for such financial use cases of NFTs to get implemented is not predictable; however, some experts predict that NFTs will soon become commonplace across several industries including finance in the next 3 to 5 years. There are others who believe that it could take several decades before we will be able to see widespread adoption of NFTs for financial purposes. The speed of adoption will differ based on the kind of use case. The adoption is also based on how quickly governments will be able to recognize their potential.
The technology is good; however, the challenge is to have government agencies and established businesses onboard with this new technology.
When people get to know that there is value, they will race ahead to create the front-end UI, the strategy, and the marketing for the technology, but who will be the first mover is the question. Anyone who will develop the best user experience for NFT technology will reign in terms of market dominance.
There are lot of obstacles in the path and yet main stream adoption of NFTs is still a challenge. Regulation will be a major challenge. Also, developers should make it very easy for those who are less cryptocurrency knowledgeable to be able to access NFTs easily.
