INTRODUCTION

Hello steemians, I am very delighted to write my homework post for this week and also using this opportunity to say a very big thank you to prof @levycore for this wonderful lecture this week.
In this course, the professor gave very detailed information about NFTs, He also gave details about what NFTs is, how to it works, the areas of NFTs and the history of NFTs.

Now, I will like to start with some details about NFT. Then I will give information about the popular NFT project Decentraland.

What is NFTs ?

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In crypto world, money is in constant development and change. There are diversity of token types available for use in different areas.
NFT is a very special type of cryptographic token, we all know tokens to be coupons that are used for exchange of goods and services.
NFTs are the final output of a specific cryptographic token which cannot be interchanged.
NFT token are non-fungible token this means that they are not transferable Or generated in mass production. NFT token work under the Ethereum blockchain and are distributed through the market internal to the platform that makes it up.

The History NFT

A lot of people are saying that NFTs made together with Ethereum which is not true.
NFT has been in the system as at 2012, The first NFTs known to exist are the colored coins. The things we now see toady is, the large number of video games that exist on NFT and the project that are on the way applying this technology (NFTs).

USES OF NFTs

NFTs are used in the creation of so many stuff. Their existence has helped prevent people from copying one another works without the permission of the original owner. They are used in the creations of games, items that can be physically touched and seen, digital stuff, domain names and so on.

How NFT Works

The operation of NFTs is very interesting,
This is possible to create and store real-life tangible objects in an abstract digital environment,There are platforms to developed for this. You do not have to have a software developer knowledge to create NFT.
They operate on the Ethereum blockchain in which they are can be traded on any Ethereum-based NFT market.
To be able to operate NFT you need to get yourself a good popular NFT platforms such as Chiliz, DigiByte, Rarible, and Decentraland and so on.

There are so many Popular NFTs projects as stated above, I will like to talk on Decentraland.

What is Decentraland?

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It is a blockchain platform created in 2015 by Ari Meilich and that of Esteban Ordano.
Decentraland started as a simple, grin that are found pixels to users through a proof-of-work algorithm.
Decentraland is an Ethereum-based blockchain platform developed to run on the Ethereum network. This is one of the Decentraland virtual reality project.
Users of this platform see many things in real life in the society.
Users can also create their own content and applications.
Decentraland has hosted a various of contests to create art, games, applications etc and then, users and content creators are a awarded.
Through the Decentraland project, users are able to buy and sell in effective reality in the world. Thanks to this platform, users meet many things in real life in the digital environment and win awards according to their performances.

How Decentraland works

Decentraland is a platform we’re users can purchase, build monetise applications.
Decentraland is well known in the blockchain world were users utilise two tokens to interact with the platform and purchase land, goods and services.
The value of land increase as the value of the land increases. O wining a land gives users the ownership rights and full control over the environment and applications they create. Landowners continue their work without any central authority.

How to buy Decentraland

1. Click the buy button now

2. Fill in the fields and select the cryptocurrency you want to purchase.

3. Choose the currency you will be paying in

4. Proceed to check out

5. Receive your Decentraland

Advantages Of Decentraland

The advantageous aspect of Decentraland is that, it allows users to develop applications, games or users can play their game in a higher resolution and 3D scenes, it also give ms owners the right and full control over the environment and applications they create and last but not least it also allows users to purchase parcels of land on which to build their own environment.

Disadvantages Of Decentraland

Mobile devices are not to be used. The most commonly used device now a days is mobile devices. In Decentraland, users must have their own accounts ( wallet).
The application of this is too difficult and this is the main reason why some people are not able to use this platform or some times people get bored when using this platform.

Conclusion

Non-Fungible Tokens ( NFTs) is a very interesting aspect in the crypto world which I have really enjoyed making researched on and I will like to use this opportunity to thank the professor @levycore for his wonderful lecture this week. I really learn a lot from his lecture and I hope my homework task will be accepted and review thank you!!!