THE SPECIALITIES OF NFT (THE NON-FUNGIBLE TOKEN) AND HOW DEPOCKET dApp SIMPLIFIES THE NFTs MANAGING PROCESS.
- What is NFT?
- NFT is one of the most viral words to be sought on the internet recently and is remarkably attractive since there are NFT transactions that reach the figures of millions of dollars.
- NFT is the abbreviation of a Non-fungible Token that has several special characteristics. A token that is non-fungible means a digital possession that has certain unique qualifications.
- In addition, NFT is built based on the qualities of being distinctive and one-of-a-kind so that it is impossible to create a replica of an NFT and this makes NFTs become assets. In the other words, there are no two NFTs that have identical features as well as there is no possibility for a happening situation in which someone owns several replicate NFTs.
- One of the most popular kinds of NFT at present is the artistic NFT such as portraits, pictures, musical products, and so on.
2. The special characteristics of NFT.
- Uniqueness: No one can create two NFTs that are completely the same.
- Eternity: the existence of NFT is permanent including its attributes.
- Clear and exposed information: all the data of an NFT can be tracked and displayed transparently based on the smart contract operating mechanism such as the number of owners, the original creator, and the places where the NFT is reserved. Therefore, users can use the Decentralized dApp like DePocket all-inclusive application to manage their NFTs.
- It is not needed to have access permission from a chain: if an NFT is constructed on an open blockchain, it will accordingly possess that blockchain’s qualities and will certainly be able to be traded on that chain.
- The quality of possession: the owners of NFTs have the right to diametrically decide for the business activities of their NFTs.
3. What is an NFT used for?
- The artistic items are found to be more easily managed thanks to the application of blockchain. Specifically, the management system of artistic products now can deploy the artistic NFTs to solve the problems regarding property rights and fake production.
- NFTs are also used in blockchain games for many goals. NFTs, for instance, can be the heroes, weapons, and many more items in games that users can play and earn. For example, players can trade these NFTs on an NFT market so that they are not only able to use game NFTs to play to earn but also properly own the NFTs for trading on the marketplace.
- Domain name NFTs is also an aspect that is found as a profitable area. Companies use the qualification of distinction of NFT to do business with the NFT domain names and make a lot of money.
- According to the prominent qualities of NFTs, this kind of digital asset is now drawing much attention from artists all over the world. Amazingly, celebrities have started to create valuable content which is performed by NFTs and exhibited online. As a result, the NFT created in this way makes a big bunch of income or can effectively raise funds for charity by selling NFTs.
- Financial production like mortgages for houses that are unfeasible to be replaced can utilize the NFTs to help manage these finance items because these two subjects have a mutually identical feature which is uniqueness.
- NFTs can also be used as the fairs in big events so that these NFTs can be sold effortlessly and simply when having the support of the smart contract operation.
4. The DePocket Decentralized Application is going to have a new integration in tracking AirNFTs.
- The DePocket Project has done immense efforts to become the most popular all-in-one Defi application that has the vision to simplify the crypto-financial management process.
- With the goal mentioned above, we, DePocket Team, have successfully upgraded for DePocket dApp to be capable of tracking for AirNFT on Binance Smart Chain. This would therefore help DePocket to get closer to carrying out the mission to make Defi world more friendly-users and sequentially become adopted.
- In the future, the DePocket Project will come up with many platform updates involving adding NFTs tracking features on new additional chains.
Please follow us on the DePocket website for more information.