Everyone is looking for them, everyone wants them, but what about NFTs?
Non-replaceable tokens are certificates of ownership
about digital works. These instruments are very successful, so it is
interesting to go into detail about their characteristics to understand what a
person can do by purchasing a non-fungible token.
What is an NFT?
NFT is an abbreviation for Non-Fungible Token. These are unique tokens, no
fungible, ie not interchangeable or replaceable and indivisible, with which
an asset can be represented in digital format. In other words, it is a unit of
data stored on a digital ledger, a so-called blockchain, which certifies that an asset
digital is unique and guarantees its origin. With an NFT it is possible to
any digital object such as photos, videos, audio.
It is precisely the unique feature of non-fungibility that distinguishes it from other assets,
such as cryptocurrencies; for example, a bitcoin is fungible in the sense that it can be
replaced by another. This is mainly what sets it apart from any other type of digital asset
currently popular in the sports sector, namely fantokens which, on the other hand
are fungible because each token is identical to another.
Not to be confused: NFT or phantoken?
Fantokens, on the other hand, are designed as a tool to monetize engagement
fans and at the same time offers them the opportunity to obtain certain privileges. In
In particular, the most beneficial aspects of owning a Fan Token relate to:
the possibility to :
● take advantage of discounts,
● take advantage of reserved offers,
● take advantage of promotions or pre-launch tickets,
● meet current and past athletes or players
● get discounts on merchandising.
In addition, it is also possible to take a more active management and decision-making role in
participation in the promoted polls, such as the choice for uniform or
music to play in the stadium.
What’s the point of buying NFTs?
Once you have a better understanding of NFT Certificates of Authenticity, you can
Next question you might ask yourself is what is the point of buying?
In fact, art lovers make investments through this new method. In
in other words, they can buy the certification that is inseparable from a token
not replaceable, but not the work itself and thus claim their acquired right
on this digital work through a tool called smart contract. The contract
smart, on the other hand, is nothing more than an (active) computer protocol that, if
necessary, immediately check the contract with which one is in possession of the token in
ask. In short, it comes down to buying the value of a work that varies over time,
making this area akin to buying stocks in the stock market.
Instagram opens up to NFTs
Non-functioning tokens even end up on Instagram. After the declaration of the month of
March, in which Mark Zuckerberg announced the arrival of certificates of ownership
digitally on Meta’s social network, it now seems a matter of hours.
According to the CoinDesk site, which specializes in bitcoin and digital currencies, Instagram
plans to integrate tokens from Ethereum, Polygon, Solana, and Flow, which are the major
majority of the digital collectibles trade. For now the project
will concern only a small number of expert NFT users.
Thus, by linking their wallets, users can prove ownership of NFTs,
on their profiles and tag the ones who made them.
Unlike Twitter, which allowed posting non-fungible tokens as images
profile should not charge Instagram users for posting and sharing
The arrival of NFTs on Instagram should give this type a new wave of visibility
tech: Instagram has over a billion monthly active users, including
many are already using the platform to promote and publicize their creations
How do you create non-fungible tokens?
For an increasing number of people, buying NFTs has become quite a habit.
flow, and the cryptographic metaverse seems to be expanding: if it’s possible to start
the process for free, is it also true that NFTs currently cannot
not be bought with the traditional currency we all know, but it is
require an e-wallet i.e. an e-wallet of crypto-
currency, as used by https://vulkanvegas.com/en-ca.
Basically, you sign up with a service that trades traditional currencies
against cryptocurrencies, deposit your money, then choose assets
NFT and complete your purchase transactions.
Examples of NFTs
To better understand, last year, in the NFT market, the monkey was the master: he
was a (collective) series of digital works titled Bored Ape, which reached
hundreds of thousands of dollars and, for them, the famous CryptoPunks.
Or, what are NFTs in relation to music? This sector is also in
extension and consists mainly of music recorded on a blockchain under
non-fungible token form.