You must know about NFTs - Product Engineering Services

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All you need to know about the NFTs
NFT are non-fungible tokens but to understand
this first see What does fungible means?
Anything which is fungible can be exchanged with
another asset of the same value or similar
importance, a simple example can be a currency,
the 100rs you have has the same value as the
100rs of the person living next door has. So,
this is not unique, whereas, on the other hand,
the seven wonders of the world are unique in
themselves.
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So, what is NFT?
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Non-Fungible Tokens aka the NFTs are digital
cryptographic assets created using blockchain
technology. It is a type of digital certificate
for owning goods or an asset that represents a
great variety of intangible and tangible items
such as paintings, Designer sneakers, music,
virtual real estate, postcards, videos, and so
on. NFTs cannot be duplicated or associated with
a similar asset, because each NFT asset is
unique on its own.
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These can not be exchanged with other things.
They are unique, every asset has its true owner
and has the right of ownership and more
importantly, the fake copies can not even hold
any place as the original item can be easily
traced back to its authorized user.
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You must be wondering when did all this
happen? So, this all started in the year 2017
with the first-ever Non-fungible token. It was a
two-person team, John Watkinson and Matt Hall.
It was released under the name Crypto Punks on
the American Studio Larva Labs Ethereum
Blockchain.
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Projects using NFTs 1. Crypto Kitties In the
year 2017, another project was released named
Crypto Kitties which went viral immediately
after its release. Its a game built on Ethereum
that allows players to collect, breed, and
exchange virtual cats. Each kitten is different
and can be raised, multiplied, and marketed.
Collectively, these virtual cats moved millions
of dollars, and some of the rare units were sold
for hundreds of thousands of dollars each as much
as 140,000. Its said to generate an investment
of 12.5 million.
2. Decentraland This was launched in February
2020. It is a decentralized virtual reality world
where players can own and exchange pieces of
virtual land, create customized avatars,
participate in governance, and trade rare digital
collectibles and other in-game NFT items.
Cryptovoxels is a related game where players can
create, produce, and trade virtual property.
3. Crypto Stamps They connect the digital world
to the real world, and are issued by the
Austrian Postal Service. These stamps are used to
carry mail like any other stamp. But, they are
also saved as digital pictures on the Ethereum
blockchain, offering a tradable digital
collectible. Lets walk you through some very
famous examples of NFTS
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1. Nyan Cat gif an animated Gif of Nyan Cat was
sold for more than 500,000 On 19 February, it
is a 2011 meme of a flying pop-tart cat.

1. Jack Dorseys first-ever tweet, Just setting up
   my twttr, with bids reaching 2.5m sets up
   another hike in the market.
2. Beeples (real name Mike Winkelmann) NFT digital
   art nets 50m at Christies auction.

• Now you must be thinking about buying NFT tokens
  but dont know where you can, dont worry we got
  you covered.
• NFTs are bought on a range of platforms, and what
  you decide can depend upon what it is you wish
  to shop for. For example, if you wish to shop for
  baseball cards you are the best heading to a
  website like digital trading cards, however
  alternative marketplaces sell additional
  generalized sections. You will need a wallet
  specific to the platform you are shopping for and
  you will fill that wallet with cryptocurrency.
• With NFT generating so much global interest these
  days, there are various marketplaces for such
  activities like
• OpenSea
• Rarible
• Foundation
• SuperRare
• Nifty entry
• VIV3
• BakerySwap
• Axie Marketplace
• Future of NFTs
• The investment in NFT is hotter than ever before.
  It is the new version of digital assets and by
  looking at its current growth it is not going
  anywhere soon.
• The demand for the integration of NFTs with DeFi
  is driving several upcoming NFT projects to look
  out for in the future.

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value. 3. NFTX will allow the making of
community-owned index funds so that investors can
grow exposure to several NFTs through the
ownership of one token.
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