About NFT

The full English name of NFT is Non-Fungible Token. Each NFT cannot be divided or replaced, which is just the opposite of the concept of Fungible Token (homogeneous token), and Bitcoin is an example of a homogenized token.

Due to their non-interchangeable nature, Non-Fungible Token can represent digital assets such as paintings, artworks, sounds, videos, in-game items, or other forms of creative work. While the works themselves are infinitely replicable, the tokens that represent them are fully traceable on their underlying blockchain, providing buyers with proof of ownership. Cryptocurrencies such as Ethereum, Bitcoin, etc. have their own token standards to define the use of NFTs.

NFTs can be tangible or intangible, such as digital images, tickets, etc. Youyun "everything can be NFT", this sentence may be true. Under the blockchain technology, ownership of all digital products can be established, and the owner's information and transaction details can be displayed in an open and transparent form. This feature has the potential to be applied in many aspects.

The discussion about NFT has not stopped since 2020. It represents a new force, leading more and more circles beyond the art field to be restless. Some people say that NFT is a symbol of identity, attribute or status, or that NFT represents the rise of a new paradigm of collectible value. No matter how to describe it, NFT is the only way of expressing value in Web3, and it is one of the ways that the general public can try to enter and understand Web3.

The NFT in the game is an in-game asset, and the additional income is greater. Games are a world apart from the cool stickers, cards and similar assets of the past. Gamers cannot be certain of the uniqueness of in-game assets, nor fully own them. Using NFTs in the gaming world allows you to relive the old days and have full control over what you buy or win in-game. Additionally, each item owned has a unique identity tied to the account. This way you can safely store your assets without worrying about theft. Assets can also be monetized, valued based on scarcity, and traded on the blockchain marketplace for cryptocurrency or fiat currency.