Non-Fungible Token Development Platform
If you’re looking to create something unique out of your antiques, collectibles and more, then you’ll want to take a look at NFT and how you can use this process to convert everything you have into a whole new, virtual world.
Importance of NFT Development Service
NFTs are designed to create a digital contract that merges tangible and intangible assets. This marketplace allows for a range of different options and can have a great deal of potential for creators of different types of products.
Not only that but there are options for arts and games that are two of the most common aspects used with NFTs. Those who love fantasy and definitely those who are interested in indie items will want to invest to support these areas, which can help to actually grow the opportunities for those who create in these areas.
While NFTs are still relatively new, created only in 2012, they are starting to revolutionize the space. In fact, they are continuing to gain in popularity and have earned investors approximately $174 million, and that was just through the end of November in 2017.
These tokens use the ERC-721 or ERC-1155 Ethereum token standards, which provides even more security and provides users with the wallet services that they need as well. This platform and option is continuing to grow and allows for ownership and authenticity even related to intellectual property rather than just physical assets. Though physical assets are definitely able to be utilized in this way as well.
Standards for Non-Fungible Tokens
First up is ERC-721, which was the very first standard that was used for this type of representation. It’s actually inheritable and considered a solidity smart contract standard.
It has mapping for unique identifier addresses, which will provide for a specific owner of an item but also a permissioned method of asset transfer.
Next is ERC-1155, which came about through the Enjin team and offers something called semi-fungibility. This offers ID through not just a single asset but a full class of assets and then the token is considered transferrable. There’s no need to choose a token address for the purchase of multiple assets related to the same type. Instead, they can enter quantities and use the representation, which offers faster transaction time with fewer smart contracts in the process.
Finally, we have TRC-721 tokens. These are designed for offering non-fungible tokens through TRON. This is compatible with ERC-721 but the TRC-721 standard offers new, unique values. It also represents tangible or digital assets and creates a very public chain infrastructure that is simple and has started to become a great deal more popular, simple and cost-effective overall.
Functions of Non-Fungible Tokens
- Are able to be used for unique digital assets
- Represent and provide digital acceptance for both tangible and intangible assets
- Are not able to be exchanged and are each unique and different from other NFTs.
- Cannot be purchased in exchange markets but can be created, purchased or traded in their own marketplaces.
Features of Non-Fungible Tokens
- Are able to be created with contract-enabled blockchains through tools and support
- Typically use ERC-721 protocol through Ethereum
- NFTs and smart contracts provide detailed information options
- Offer proof of digital ownership within the digital world
- Non-interchangeable and non-interoperable which means that NFTs are not able to be used in more than one way
- Indivisible and cannot be divided down to smaller denominations because they are completely unique
- Recoverable because they are not destructible and have data stored in the blockchain smart contract, which means that transactions can always be tracked
- Verifiable because ownership data is always stored directly through the blockchain and there is no need for additional authentication.
The biggest benefit with NFT is that it favors artists and creators, providing for the tokenization of signature products. Also, unique products, especially music and art and videos, are able to be tokenized and can then create additional traffic, attention, and a bigger audience all at the same time.
Game assets are one of the top features with NFTs and offer collectibles for the game purpose including special characters and features. This provides a more exclusive experience for gamers and can help to change the future of the gaming world for artists as well as developers.
Platform Use Cases for Non-Fungible Tokens
The digitization of art is definitely a unique option and is one of the most commonly utilized in the NFT marketplace. This offers additional creativity.
This is a truly unique characteristic for NFTs and offers augmented reality in an entirely new way, while enabling completely new features.
Crypto collectibles are quite popular and common when it comes to NFT and that’s where trading cards come in. Overall, they’re one of the most common ways that these are used.
Exclusive content through video and music is an extremely popular option and most definitely can be tokenized. NBA clips and players are some of the most popular within this sphere and continue to attract attention.
Blockchain domains are a newer option with NFTs and are being used for the representation of crypto domains.
Real estate is yet another area that is starting to come around and uses NFTs for helping landowners. They are able to build and monetize even more through the leasing process.
Everyone likes collectibles, especially in the gaming realm and this is one way that NFTs are continuing to grow in popularity. They provide a more unique and beneficial gaming experience overall and introduce entirely new features.
Benefits with NFTs
- Intrinsic value given to unique assets
- Anti-fraud system keeps collectibles secure
- Increased transparency through the blockchain for adequate transaction tracking
- Identical NFTs each possess specialized protocols
- Blockchain ensures that tokens are always recoverable and no changes can be made to any of the details entered
- Market visibility increases in a number of ways to benefit industries
NFT Marketing Services
Develop an Idea
Social Media Marketing
Where We Help
You’ll get the best tokenization development platform possible, which will provide you with the traffic and interest you need.
We have the top notch security that you’re looking for to make sure that your assets are always protected.
Whenever you need us you can reach out to our development team to make sure that there’s never an interruption to the offerings that you have on our platform.
You have unique products and services and we’ll help you to customize the solution that you need to make the most of it.
Our team will provide you with integration to make sure that your customers get the best possible experience and are more than ready to come back.
When it comes time to launch we’ll get you started in no time and make sure that you’re on the right track.
Blockchain is all about transparency and we want to make sure that we offer the same. You’ll get all of the information you need about the lifecycle of the product, the system and everything that we do.
We’ll help you better understand the requirements associated with your platform and then create the best UI to fit your specifications.