Asallam Alikum
All steemians hope you are all fine and doing well. Here today i will discuss about non fungible tokens, So will discuss, what is non fungible tokens? how can we buy it? and how can we sell it? and create profit. And also discuss more strategies about (NFTs). And also discuss about a project based on NTFs

Contest arranged by: @levycore Professor of steemit cryptoacademy
Title: Non Fungible Tokens
So let start this contest..

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NON FUNGIBLE TOKEN:

Non fungible tokens are those tokens or assets which are collectible and rare in market is known as non fungible tokens..

Example

1. As you know in the antique shop 🏪 the shopkeeper buy any antique piece in 10$ and he sell that in 100$ some times they sell taht item in 500$ or 1000$ because that item is unique collectible and rare in market

2. Friends let's take another example sometimes you see autograph of popular celebrities which are passed away amd they give autograph to some peoples so that autograph will rare and collectible. So if any of them person will sell that autograph the price of that autograph will so expensive.

3. We can take one another example like there is a vintage car 🚙 in the world and there is now one car available in the whole world. The price of that car in real time running is 1000$ but now that is not available in market and only person in the world 🗺 have that car 🚙 so now the car is rare and only one car is available in the whole world 🗺 Now if the owner will sell that car it can sell in 50000 $ or more than it because the car is unique rare and collectible

If we lie this field in blockchain platform this is known as non fungible tokens and this time it's trending in market. In non fungible tokens we can lie more assets like if we talk about gaming industry. Since 2 to 3 years ago a game has came in market name as Crypto kitties. This game may be known that who are attached with cryptocurrency from 2017.

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In this game the person who is playing the get kitties and you can buy that kitties amd after buying the person started the work like he fed that kitties and then sell of that kitties. If the person work on that kitty and make it rare in that platform then you can sell that kitty in 100$ or 200$ and you have buy that kitty in 5 to 10$ and you have make that kitty rare sonyou can get your price. And as my knowledge one kitty is sell of in Crypto kitties about 1 lac seventy thousand dollar 💵 on this platform. And now a days there many non fungible token or assets are selling in market there are many websites where non fungible tokens are selling. And one of the website that i know that is rareable where you can make your own non fungible token or buy non fungible token or assets. Amd create a good profit.

PROJECT THAT USES NFTs:

DECENTRALAND

INTRODUCTION:

Decentraland is a project that based on a eithereum blockchain and it has its own token and basically its not a coin it is a token running on a eithereum blockchain and the currency ticket 🎫 of decentraland is "MANA" and its rank is 90 and its price is 1.21$. It can trade on binance, OKex and coinbase pro.

MANA TRADE BINANACE:

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MANA TRADE OKEX:

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MANA TRADE COINBASE PRO:

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Decentraland is a virtual reality project based on blockchain BR game. So i will compare this with a game known as second life. It is virtual game came in 2003. Its is very old game still the people are playing. In this game you can create your own object, own your land and businesses and this game have his own internally currency 💱 knows as linden and you can trade this currency with USD and its not a blockchain based currency 💱. So it trades separately on exchanges.
So the concept of decentraland and second life game is same because the things second life has achieved, the same thing decentraland want to achieve. So the second life is also a big competitor for decentraland in future 🔮, because after the launching of decentraland the second life also started the exploring blockchain. Since 4 years ago the CEO Philip Rosedaie one of second life's original creator has taken the funding for a social virtual reality company, and the company name is known as High fidelity. And that time they got 35$ million dollars 💵 of funding in the startup. So if the second life has came with a rare platform based on blockchain then the second life will become direct competitor for decentraland. Amd the second life is running almost 17 to 18 years ago so its annual trading 💹 is 700 million dollars 💵. So after explaining the second life i will try to explain the decentraland easily because it is same as second life.

EXPLANATION:

Decentraland is known as a virtual world own by its users 👥, buil explore amd earn money 💵 from your creations. So the concept is same as second life you want to create things virtually and then you can sell it. If you are owning a land you can mortgage the land. So there will become more strategies to earn money 💵. The decentraland has visioned in 2017 but if we talk the product launching they hold there first option 2 years ago and all the land are sold because there is big interest on this project. Now the person who buy this land they can started build the land. The decentraland project is already providing the tools ⚙ by which you can build your land in three dimensions. The things you can build in the land is 100% depends on you how creative you can build your land and can use in your own way. Here you can also create objects and can sell. For example i am attaching a picture of crated object..

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After creating the land you can start the trade and the decentraland can access by VR virtual reality and can explore all the in virtual reality. And there are two components one is decentraland which is also known as non fungible token where you create your land with object and other is Mana the internally currency of decentraland from which you can sell or purchase your land. The total supply price of MANA is 2.6 billion coin which is fixed. And the circulating supply is 1 billion coin. And by using this currency you can purchase the land of decentraland project . Few years later a proposal implemented in this and changes the dynamics of this token. The infulation of total suppl will be 8% but after implementing this proposal that they have stopped to increase the 8% of total supply, and also if any will nuy or purchase the land in decentraland market they will charged 1% transaction fee. And that transaction will be removed by which the circulating price will be reduced. This good initiative because when circulating price will be reduced, the token price will increased slowly slowly according to the trading 💹. So guys this is a good platform to earn money 💵 by creating the land and acter you can sellit or you also can give it to rent.

Thanks to Professor @levycore to give us a wonderful topic for homework...
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