A non fungible token is a specific type of cryptocurrency that is unique and not interchangeable. Two tokens of the same type do not necessarily have identical value, so they are not fungible. They’re also unique as they are purchased and used by a specific person or entity, rather than being traded between users.
This can be contrasted with a fungible token, which is comparable to a generic currency that can be exchanged for other currencies in the same class and is interchangeable with any other unit of its kind. For example, gold coins have different values because each one was minted at different times and has different features. But all of the coins in this class share the same value as currency.
Non-fungible tokens, or NFTs, are a type of crypto token that can’t be exchanged for other cryptocurrencies. It has no value in and of itself, but it is differentiable from other tokens by its unique design or history. Think of it like the difference between a standard $5 bill and a collectible $5 bill with a picture of your favorite superhero on it. Both bills share the same value and can be used at the same places. But one is more valuable to collectors because it’s different from all the rest.
One example of NFT is the BNB token. It is the only crypto with real utility in the ecosystem and is used to pay for all fees including the exchange fee, trading fee, withdrawal fee, listing fee, etc. So you need to have BNB to use all the features and functions of the platform.
What is the NFT Project?
NFT stands for Non-Fungible Token and they are a popular category of crypto collectibles.
The idea of non-fungible tokens (NFTs) has been around since 2012 when the first NFT was introduced by an Ethereum developer. More recently, CryptoKitties showed how popular crypto NFTs can be.
NFTs are a digital representation of one unit in some kind of asset class, like real estate or fine art. The key thing about NFTs is that each unit is unique and can not be replaced by another identical one. This is in contrast to fungible tokens which are all identical, like Bitcoin or Ether.
Best NFT Projects
Axie Infinity is a game that lets players explore a vast digital world of creatures called Axies. They’re cute, collectable, and customizable—they can be bred, traded, and trained with the help of other players to battle in competitive arenas.
Collecting them is addictive, but you won’t just be amassing a horde of cool creatures: each one is its own sentient being with its own DNA and attributes. You can play with them as they eat and sleep, teach them new skills and behaviors, and help them grow into the best versions of themselves.
Crypto Funks is a decentralized music production company that runs on the Ethereum Blockchain. Crypto funk can be defined as the current lack of movement in the cryptocurrency market.
Since it’s all-time high of $19,650 reached on December 17th, 2017, Bitcoin’s price has fallen nearly 65%. Bitcoin price today has since stabilized at around $7,000 , but this is still a drastic fluctuation from Bitcoin’s previous all-time high.
Bored Ape Yacht Club
Bored Ape Yacht Club (BAC) is a decentralized community that lives on the Ethereum blockchain. The rules and guidelines of the community are encoded in smart contracts. There is no central entity controlling BAC; instead, we’re governed by its members through consensus.
BAC members come together to create their own tokens on the platform with their own specific rules. Each token has its own name, symbol, and supply cap.
As an NFT token, BAC can be stored securely in any Ethereum wallet that supports NFTs and can be bought or sold on open exchanges.
Art Blocks is a non-fungible token (NFT) and cryptocurrency that leverages the Ethereum blockchain platform. We want to build a decentralized art gallery. NFTs are unique digital assets that are owned by one person, but can be traded, sold or borrowed to other people.
Art Blocks is an online gallery where you can display, buy and sell your own work or the work of others. We run on the Ethereum blockchain and use NFTs to represent art pieces like paintings, sculptures and photographs.
NBA Top Shot
NBA top shot NFT crypto is a decentralized, tokenized, global leaderboard and digital asset system for the NBA. It is built on the Ethereum blockchain, where users can participate in a global economy of buying and selling collectibles and experiences. The platform currently includes a marketplace where users can buy and sell tokens that represent real-world players.
Mutant Ape Yacht Club
Mutant Ape Yacht Club is a new NFT crypto token that can be traded on the Decentralized Arcade. It’s a hard-hitting satire of the absurdities of yacht and private jet culture, featuring images of apes in yachting attire smashing into each other in their flimsy yachts and floating on their backs with drinks in their hands on their private jets.
CloneX NFT crypto is a decentralized, trustless, and anonymous cryptocurrency with a main goal of promoting mass adoption through ease of use. The currency was founded in 2017 by prolific developer Wayne Duke and his long-time friend and collaborator, Robert. They wanted to create a coin that would be accessible to the average person while also providing advanced security and privacy features.
MeeBit (or meebits) is a NFT crypto token, functioning as a currency on the MeeBit platform. The MeeBit platform will allow users to buy, sell and trade virtual goods, in-game items and currencies. Users will be able to buy items on the platform with fiat, crypto or meebits.
MeeBit can be used in any game that uses an ERC-721 token or an ERC-20 token. This includes games that use the Ethereum blockchain or games that have their own blockchain.