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Author Topic: Difference between LP2 Tokens and NFT Tokens  (Read 86 times)
BayAngelo (OP)
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October 05, 2020, 12:41:25 PM
 #1

Can someone please assist in explaining the difference between LP Tokens and NFT tokens. the little i know is that LP tokens are rewards earn by providing liquidy in Dex exchanges Like UNISWAP. While NFT tokens are gems or rewards for mining or claming free tokens from some ERC 20 tokens.

mk4
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October 05, 2020, 01:03:05 PM
Last edit: October 05, 2020, 01:14:33 PM by mk4
 #2

While NFT tokens are gems or rewards for mining or claming free tokens from some ERC 20 tokens.

Based on my understanding on what I've seen on Twitter, non-fungible tokens(NFTs) are(based on it's name alone), are sort of digitized whatever stuff like art and such. This has been quite hot on crypto Twitter apparently because of the "scarcity" of digitized art.

In my opinion though, "digitized art" is a bunch of barnacles and makes no sense whatsoever. It's just a freakin image on a blockchain that I can freely copy-paste and download to my computer, so why pay for it?

Take a look at this:


source link

It's being sold for freakin 0.25 ETH. Cool art, sure, but um.. I can simply copy the image and I'll get a 1:1 version of it..



And don't tell me that "downloading NFTs is the same with taking a photo of the original famous Mona Lisa painting" because no, no it's not.

Famous "influencers" like Anthony Pompliano are for NFTs but I just don't get it.

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