What are “Non-Fungible Tokens (NFTs)” and their use cases?

If you’ve lived in the crypto world for a while, you’ve probably heard the term “non-fungible tokens” or “NFTs.”

Non-Fungible Tokens (NFTs) are unique digital items with blockchain-managed ownership. Examples include collectibles, game items, digital art, event tickets, domain names, and even ownership records for physical assets.

Video games are one of the earliest applications of non-fungible tokens, including object management in online games such as World of Warcraft, League of Legends, etc. Users currently “hold” virtual objects with real value, which remain virtual on company servers. If the company goes out of business, the virtual object “disappears”. With NFTs, virtual objects will continue to exist on the Ethereum blockchain. Since the blockchain is public, it is even possible to create “inter-game” long-term objects. An example from the crypto industry is “ALIENS PLANET “.

Another application is the “tokenization” of physical assets, which can have digital counterparts on a public blockchain. For example, marking a car by creating a token that will replace the registration file.

Non-fungible tokens are a rapidly developing new concept. While the ALIENS PLANET phenomenon appears to be just the beginning of exchange volumes, it helps to understand new applications of blockchain that can play a major role in the way we interact with digital objects and assets in the long run.

Which company is part of the NFT development?

Let’s dig into Mintable.

What is Mintable?

Mintable is a minting and management platform for ERC-721 tokens. Digital goods minted on the platform can be sold in cryptocurrencies on the NFT marketplace. Since ERC-721 tokens are unique, every digital commodity minted by Mintable can become a collectible.

Since the creator created the contract in the Ethereum wallet, 100% ownership of all contracts on Mintable is retained. Each smart contract can create multiple currencies that can be used to represent your digital goods.

Mintable is the only NFT platform that offers token contracts, making it different from other platforms. This means that minting does not involve any third parties – you can mint tokens as a project at any time.

6 ways to use Mintable

Due to the unique nature of digital goods created with Mintable, content creators have multiple possibilities when using Mintable.

Create greeting cards

Aluna Gu, a crypto blogger covering blockchain in China, used Mintable to create her first series of 25 NFT greeting cards.

Create graphics for sale

Let’s look at an example of a graphic designer who is good at creating cute monsters. The designer made 50 unique monsters on Mintable and created a smart contract ” My Cute Monsters-Limited Edition 2020 “. Monsters become tokens, each of which can be sold at a price set by the designer.

Create digitized pictures for sale

Photographers can use Mintable to add unique characteristics to photos, turning them into rarities that can be sold.

Create high-value items

Creators with social media followings can choose to produce only a limited number of digital items, and they can be tagged as high value, financial or otherwise, as determined by the creator.

Supercharged interaction with collectibles

Mintable is great for creating NFT collectibles or badges. It can be gifted to followers on YouTube, Twitch, or Twitter to increase their engagement and loyalty.

HYPE Monster Quest recently started rewarding users with unique, collectible badges, each offering a different advantage to the recipient.

 Manage digital items

Whether it’s Blockchain Cuties, Gods Unchained cards, Axis, CryptoRome items, or Crypto Assault units, Mintable is the easiest way to transfer, browse and interact with digital items.

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