What is NFT?

[Malam90]

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

[Rodeo02]

This article to can help you to understand more about NFT tokens https://academy.binance.com/en/glossary/non-fungible-token-nft .

They have different types of collectibles tokens that you can see if you are using meta mask. The first one is created in 2017 or 2018 crypto kitty ,they become popular now because there are games that help many people to earn money while playing games at home playing axie infinity. there are more  games will follow and already under developelment .

[kpierce77]

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

[marcous]

Well after DEFi boom the next is NFT.  Several projects are experimenting with NFTs for various uses, such as gaming, digital identity etc.  Maybe it will be a transeter in 2021 after DEFI.  It is possible that many coins that have been listed on the exchange will collaborate or partner with NFT projects such as Cryptokitties

[Warkop]

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Personally, I think NFT is one of the main development blocks of a new digital economy powered by blockchain. Several projects are experimenting with NFTs for various uses, such as games, digital identities, licenses, certificates, and fine art. What's more, this technology even allows fractional ownership of high-value items.

As NFTs become easier to build, we can see more and more of these new asset types being created every day.

A non-fungible token (NFT), also known as a crypto collectible, extends this idea. Unlike cryptocurrencies where all tokens are created equal, each non-fungible token is unique and limited in number.

[zasad@]

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

In this thread, I collect all interesting projects and games that use NFT tokens.
https://bitcointalk.org/index.php?topic=5278144.0
This market is constantly growing, and new interesting projects appear every month. But the biggest prospect for these tokens is blockchain games.
Gamers are ready to spend huge money on skins.

[oliviarobert]

A non-fungible token(NFT) is a special type of cryptographic token that represents something distinctive, non-fungible tokens are not mutually interchangeable by their specification.

To generate verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms, non-fungible tokens are used.

[uneng]

Some differences of nonfungible tokens over fungible ones:
 

• they are built in ERC-721 protocol instead of ERC-20;
• they aren't divisible like common crypto currencies (like 0.001 btc, for an example);
• they are more related to collectibles and games content than currencies themselves.

NFT is going to be very popular in few years, especially in gaming industry, as each game's item will be a NFT with physical monetary value , what means you can sell them for real money and you own them even outside the game. Some concepts already think about creating shared items among different games.

[nomenclatur]

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

NFT is almost like an image or cryptography that has a lot of selling value. Currently, NFTs are sold on trust wallet. Many people use NFT to get a lot of money and investors can make a lot of profit for projects like Defi which are used to make profits, such as project dego finance which makes Several NFTs for mining with different levels are very profitable because many investors are interested in trying their luck.

[bitcoin-shark]

nft are practically collectible tokens like kittens / cryptokitties or how digital stamps issued by Austria,they are on the eos and wax blockchains to get a concrete idea you can visit this market where you can find all the nft released up to now  https://wax.atomichub.io/market

[Malam90]

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

Each NFT token is distinguishable to other token of same NFT project. It is basically perfect for online gaming and known as digital collectible in gaming world. Every new trend draws attention of the crypto lovers, hence NFT is playing same role. Holding or trading NFT tokens can be profitable before ending trend.

[pangu]

NFTs on OpenSea are breaking all-time records:
- $1.9m in daily sales volume
- 356k users in January

https://twitter.com/opensea/status/1356658501670625280

[arifinislam7777]

I think a non-fungible token (NFT) is a special type of cryptographic token which represents something unique; non-fungible tokens are thus not mutually interchangeable. This is in contrast to cryptocurrencies like bitcoin, and many network or utility tokens that are fungible in nature.

yes is a Nonfungible Tokens
NFT is a crypto token that is used in the gaming industry, art, collectible transactions, and many other areas. Supported coins: Ethereum, Tron, EOS, NEO

So after Defi projects here comes the NFT projects. What could really be the difference of these type of project to ICO, STO, IEO AND.DEFI?

I do not understand they created that much projects but really not working. There may be few that are actually good but in the long run it had develop problems in their platforms and scammers are everywhere ruin the kind if fundraising activity. You see that scammers too could create their own defi projects and being run by a newbie. There are many of this in the altcoin and bounties section.

Anyway, I a hoping that NFT will shows a good way of fundraising activity and that scammers could not make it to this kind of crowdfunding or will be distinguish if ever they will also create their own NFT projects.

[Sayeds56]

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

I have also participated in a project like that which issued an NFT to mine and get stake every day, but I did not continue it because it needed too much capital.

I also joined one NFT site on Binance smart chain and bought some NFTs for fun, lets see how it works out. Binance smart chain  is comparatively cheaper where  transaction fee is very low compared to Ethereum network. The site  link is giving below. NFT craze is growing with every coming day and nobody knows where it will end up. We should also ride this opportunity Bus to book some gains in future.

https://bsc.cryptoz.cards/crypt

[sniveel]

Like other crypto traders and investors, I usually see someone who is always posting about NFT in some social media groups but I don't really know what it is or what it means. I search it on coinmarketcap but all I find is a coin with low rank and marketcap. I am looking that there will be someone who can enlighten me about NFT and how it works.

[Twinkledoe]

Like other crypto traders and investors, I usually see someone who is always posting about NFT in some social media groups but I don't really know what it is or what it means. I search it on coinmarketcap but all I find is a coin with low rank and marketcap. I am looking that there will be someone who can enlighten me about NFT and how it works.

Have you read below conversation regarding NFT? At least give you an idea what are NFTs.

You can also get a better explanation in wiki - https://en.wikipedia.org/wiki/Non-fungible_token. And right now, it is becoming like a hype, and everyone wants to create their own NFT.  If you want to purchase one, better check its future value in the market and think, why would it be a valuable one? Not all NFTs are worth paying thousands of bucks or even millions of dollars.

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

Each NFT token is distinguishable to other token of same NFT project. It is basically perfect for online gaming and known as digital collectible in gaming world. Every new trend draws attention of the crypto lovers, hence NFT is playing same role. Holding or trading NFT tokens can be profitable before ending trend.

[dudusix9]

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

Many DeFi projects have recently released their own NFTs. I think this is almost like a game where you can collect an NFT and you will get benefits or profit when you hold it, like getting an airdrop or something else

I feel like NFT is now where the money is, not just for digital artists that mints their NFTs and sells it, but even for normal crypto users.

And you're correct, there are games like Battlewave 2323 that lets you stake & HODL their coin in order to get NFT drops. Gaming in the blockchain involving NFTs will explode this 2021 and 2022.

[jjdub7]

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Simply put, NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that can be traded in the blockchain system.


For the uninitiated, this may not be a very simple explanation, but the pay for many artists, musicians, influencers, and others is huge, with investors spending a lot of money to own NFT versions of digital images.

For example, Jack Dorsey's first message on Twitter is now up for auction, with bids reaching $ 2.5 million. A video with a LeBron James dive sold for over $ 200,000, and a 10-year-old NIF Cat GIF was bought for $ 600,000.

However, NFTs are not something completely new. The digital game CryptoKitties in the cryptocurrency platform etherium is one of the first irreplaceable tokens that allows people to buy and sell virtual cats that are unique and stored in the blockchain.

[Sayeds56]

Fungible tokens (FT) and Non Fungible Tokens (NFT) is't new idea but recently it has come to light with few new projects. Fungible  is changeable or replaceable or interchangeable. Non Fungible is just opposite of Fungible. It is not interchangeable or replaceable. I still don't rely on this trend and i consider it's a new hype.

I think you are absolutely right because use case of NFT is not very strong, it is digital art and attracts only Art lovers but paying huge cost of NFT is not possible for general investors/traders in crypto space, only high worth clients can afford this kind of art work. I am afraid this Hype of NFTs will not long and die down soon because mass adaption will be difficult due to weak use case..

[sunny28]

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

NFT-non-interchangeable tokens, tokens that can not be replaced with another they are in this kind of unique, unique!

And since the NFT market is very complex and strict, there you need to seriously think about it in order to come to a normal conclusion and understand