Why are many people are attracted to the world of Crypto and Blockchain?
If the crypto market in the traditional money market can say that the crypto market is like that little child who barely stands on his feet, grow and tries to discover things.
However, in although he is small, the signs of prophecy threaten what is cushions and promises.
The appearance of blockchain and enriched currencies to open gates and borders to make a valuable conversion at anyone anywhere.
The decentralization of DEFI, then entered the scene in 2020.
Suddenly, blockchain' technology has expanded to include more complex financial use, from trading and insurance to savings and loans ...
What is unlimited potential, so there is no wonder that decentralized DEFI has become more mad in 2020.
While the vast majority kept their eyes on decentralized DEFI, which looks like the glossy black horse that grows and grow up in the shade.
NFT digital symbols emerged NFT, which are symbolic versions of one of the assets, which represent non-replaceable assets such as holdings, artwork, real estate, or any unique and rare element in the world.
Which makes it distinctive and attractive.
NFT has foremost for the first time in 2017, when you encouraged the game built on the blockchain ethernium called "Cryptokitties" hundreds to collect virtual cats and exchange them and even reproduce them.
There are no two identical cats in the game, and the game was attractive enough to move millions of dollars and attract thousands of novices to the world of cribu.
The NFT market remained stagnant after the "Cryptokitties" mutation but began to rise again quickly in the second half of 2020, with projects arriving at record sales such as a panel-based trading card for football player Killian Mbii which was sold for $ 66850, after This figure is nothing to sales in millions of dollars, another auction on the first Twitter founder, which has reached the time of preparing this article for $ 2.5 million.
NFT cases have also grown to include a variety of assets, such as:
Virtual Collectibles, Game Elements, Digital Works, Event Tickets, Real Estate, Identity Documents, Certifications ...
The following are three reasons why non-replaceable digital symbols is NFT:
1. Authenticity:
The unification of NFT standards and detailed features of its smart contracts makes each of them for identification and originality.
Users know that there is only one of each NFT exists, so can not be repeated or copied and there is no chance because you end up with a fraudulent element.
The transparency of blockchain also means that credibility can be verified and prove.
The tradition and fraud are a major problem for many industries such as art or luxury brands, but the NFT Blocks are emphasized on fraud and gives buyers confidence that they will get what they pay for.
The location of "Cindesk" earlier that luxury brands "LVMH", the famous Louis Vuitton mark, riding NFT wave and is preparing to launch blockchain to prove the originality of their luxury items.
The goal is to give NFT-shaped products so can be checked.
It will also be possible to track the life cycle of an individual handbag from the crocodile farm to the store in which it was sold and its many respective owners who bought and earned.
2. Property:
blockchain enable people to start possession of what their own property is.
It should be noted here that NFT can not be handled and converted only by the original owner (owners) given their smart decades and associated rights.
This means that even an NFT source can not copy NFT or move it without the owner of the owner.
You may have spent $ 60 to own a program license, and play for a month, and overcome the game and then left it away without anything else to display.
In other words, you can not replace a currency or item within the game with paper currencies and you can bring them to another game because you do not really own.
But in the world of blockchain, you have all the enrolled assets within the game (NFT form) in your wallet and you can trade, fight or race with them via multiple games.
You have and control all these assets, whether it is an enchanted sword, skins or currency.
In the Future Conference 2020 on the future of games and non-replacement symbols, Dr. Jesse Rich shows the CEO of "Splinterlands" how to acquire your unilateral valve, where he said:
The second time you start with your sword and your shields and your characters and something dedicated to them, you will stop the idea that you will then go to play another game and spend hundreds or thousands of dollars on a game that does not have any of these things and therefore will not be attractive.
3. Easy conversion:
Since NFT is decentralized, there is no need for a central version and is very easy to transfer and convert these unproductive symbols.
Users are allowed to indulge in unlicensed interaction with counterpart, trade, and specialized markets without overlapping third parties that can slow or complicate the process.
By following an example of games above, NFT solutions solve the exclusivity in traditional games where assets can be easily transferred to use between different blockchain.
Because the assets you have created or purchased in one of the games are owned by you and not to the games, they can be moved between different worlds and can be moved from game to another.
It is also converted in the sense that these symbols enable millions of people to easily access them and can be traded with other encrypted currencies.
In the end :
NFT is an interesting NFT symbols because they rotate around more than just money.
These digital symbols benefit from the human habit of collecting elements that raise passion or entertainment.
These symbols are attractive because they represent special and rare elements but they mean more, because the owners know that the original and owned items really and can be easily transferred.
NFT has opened a wide range of possibilities for real and virtual assets, and provided opportunities for innovators and new revenue flows in games, art, sports and technology.