Is NFT the hype of cryptocurrency or is it here to stay? It's crucial to understand the basic elements of NFT. Why it matters in the digital age! Cryptocurrencies play a pivotal role in the adoption and usage of NFT. What platform are ideal to use to deal in NFT? How are NFT's different to STOSecurity Token Offerings?
In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable, and each of its parts is indistinguishable from another part.
For example, gold is fungible since a specified amount of pure gold is equivalent to that same amount of pure gold, whether in the form of coins, ingots, or in other states. Other fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies.
Fungibility refers only to the equivalence and indistinguishability of each unit of a commodity with other units of the same commodity, and not to the exchange of one commodity for another.
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. Non-fungible tokens are used to create verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms. NFTs are used in several specific applications that require unique digital items like crypto art, digital collectibles, and online gaming.
Rarible is software allowing digital artists and creators to issue and sell custom crypto assets that represent ownership in their digital work. Of note, Rarible is both a marketplace for those assets, as well as a distributed network built on Ethereum that enables their trade without a middleman.
OpenSea is a peer-to-peer marketplace for rare digital items. Buy, sell, and discover rare digital items. Explore Activity. Check Rankings. Read Blog. Highlights: Easy-To-Use Tools Available, Help Center Available
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