Technology
By Ayobami Abiola
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A really simple Explanation of Non-fungible Assets
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Fungible Assets
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Non-fungible Tokens NFT
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ERC 721 and ERC 1155
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Cool D'apps based on NFTs
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What's the perceived future for NFTs
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You must have heard of Non-Fungible Tokens- NFT, even if you haven’t, you must have heard about crypto kitties that made a huge wave in 2017.
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In simple terms, you know how wristwatches can be of the same model but not worth the same amount depending on who owns it.
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On the other hand, cash or fiat of a particular denomination is the same no matter where it has been or who has it beforehand.
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Non-Fungible tokens are token smart contracts that are unique and non-divisible just like their non-fungible physical asset counterparts.
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Ethereum based NFTs are the most popular and they are of two types: the early ERC 721 and the latter update ERC 1155.
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The creation of blockchain-based NFTs opened up new possibilities for its applications. Though, the crypto kitties' bubble busted, there are new and improved applications making…
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For example, opensea.io marketplace where NFTs of all kinds are traded. The market place serves as a decentralized exchange for all NFTs and many users have made a lot of money…
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Decentraland is a popular crypto game that is based on real estate (lands), names, and wearables. It allows people to own properties online and build structures or even games.
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Another is Unstoppable Domains, it sees a huge opportunity in having a ‘.crypto’ based domain names, it recently collaborated with Opera to attach an IPFS hosting service to…
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