Steemit Crypto Academy Season 2: An Introduction to Non-Fungible Tokens (NFTs) for @laser145

laser145 (67)Beginner[1,2,3,4]in SteemitCryptoAcademy • 3 years ago

Introduction to the second season week two task two by teacher @levycore

First of all let's thank all the members of #SteemitCryptoAcademy especially the participants who give their time and effort to support the community we see great growth and great work in it. welcome to Professor @levycore my respects to you, In this week we will talk about Tokens (NFTs) a concept for what they serve advantages and disadvantages and how to buy them so that everyone is clear about these processes I hope you like it will be very entertaining and will help you better understand what it means a token (NFTs).

Concept of NFTs

NFTs is a cryptographic token that works with the Blockchain system with the Ethereum blockchain, and represents a physical and digital asset, merged as a proof of authenticity and ownership within the digital network is not a fungible token so they are not interchangeable with each other. A fungible asset is one that can be exchanged for another of the same value without keeping track of it and without losing its original value, for example a $5 fiat bill can be exchanged for another $5 bill without losing its value and without keeping a record, in the Token (NFTs) this does not happen because each token belongs to a single digital or physical asset and a record is kept in the ethereum blockchain and is traceable, therefore it is called a non-fungible token.

Use of NTFs

Mainly used to tokenize the economy of online games as they suffer from inflation and this can alleviate this big problem also nowadays NTFs tokens are used to digitize real assets such as houses, land, baseball teams etc. this opened a great investment opportunity for these large companies and collectors. in the art world it is seen a lot that artists tokenize their paintings or creations in digital NTFs to become more known in the digital world and also in their artistic careers as artistic creators.

Source

Project using NTF tokens

Gods Unchained site

Gods Unchained players in the year 2018 spent 87billion dollars on games worldwide these funds went straight to billion dollar gaming companies worldwide the company Gods does not charge anything to start playing on their network and in the year 2018 ran a campaign to increase players from 13mil to 1million so we see this company is in great growth with NTFs It is now more popular than ever, is a digital game based on collectible Cards these within the game are used to create battles each one has a different power and strength also life and agilities each digital card is issued on the ethereum blockchain network each card is totally unique and players can exchange them as if it were a conventional physical card. they can also sell it in-game in a digital wallet it owns. each card has a unique value.

How does Gods Unchained NFTs work?

Is free so it will not ask you any amount of money for membership.

First step is to register for free at the following website. site

It is a free game gives you full ownership of your cards, token = (NFTs) and you can do with them what you want you just have to collect the rare cards then build a game deck, the tokens (NFTs cards) you can sell them whenever you want through the Ethereun blockchain.

History Gods Unchained NTFs

Was developed by some former google engineers and also by former Riot Gamers workers, behind it has very good developers of very wide trajectory as far as I see it has a lot of seriousness and a very great future having in its team the most famous MTG game director of the world in arena .

Source

Conclusion

NFTs are currently in constant growth and development but eye are not new since 2012 were launched with small fractions of Bitcoin making some NTFs but now are becoming very popular and recognized worldwide we see that many musical artists are creating NFTs of their albums and are entering auctions and sold at an excellent price of a few thousand even millions of dollars. NTfs are very collectible and its growth can be in the future a breakthrough or even become highly valued even I think much more than bitcoin because of its history and because they are unique for collectors is a new era where they can invest in coins and be able to sell or exchange for other tokens when they want. without having to make long trips and wait for a long time.

Thank you very much I hope you like my homework I'm @laser145 and this is my contribution to the #SteemitCryptoAcademy community see you in the next class.