PDF Publication Title:
Text from PDF Page: 003
1. Introduction Non-Fungible Tokens (NFTs) have picked up steam during this crypto market bull run when the importance of digital experiences has become ever more important, especially, with people being restricted to their homes due to Covid-19 lockdowns. However, most people think of NFTs as just digital art; let’s dive deeper into that statement and uncover what NFTs are and what they have to offer. 2. What are NFTs or Non-Fungible Tokens To understand them, we must first discuss why there is a need for non-fungible tokens. Fun- gibility or interchangeability is the desired quality for money as it must serve as a unit of account, or standardised commodities for ease of trade, or assets representing a part of a larger whole like shares of a company for broad representation and distribution. However, for unique, different, and whole assets with different properties like a plot of land, a piece of art, fungibility does not work as each asset is unique with different properties and consequently values. With blockchain ecosystems having broadened to include more use cases than just medium of exchange or store of value, non-fungible tokens or NFTs bring scarce and unique assets on-chain to serve this growing need. As bitcoin solved the problem of double-spending of money without a centralised authority, NFTs solve this problem for unique assets. NFTs are provable “deeds” of ownership, that en- sure verifiable authenticity of an asset. NFTs store the entire holding and transaction history of an asset from the original author to the current holder ensuring a trustless verification of ownership and authenticity. Further, NFTs having standardised formats allow interoperability and composability between projects. For example, a CryptoKitty NFT created on the Ethe- reum blockchain can be used to fight other CryptoKitties in another Ethereum application, Kotowars. Another example for interoperability, could be that by owning a wrestler’s card, unlocks a special move in a wrestling game. NFTs being on platform chains can also have revenue sharing conditions so that the original artist is rewarded every time the NFT is sold in the secondary market. Through this, artists can have a steady revenue stream and are incentivised to continue to support their NFT products. The standard for NFTs on Ethereum is given by ERC-721, and there are other implementa- tions like ERC-1155 which allows for both fungible and non-fungible tokens within a single token contract. Dapper Labs, the founder of CryptoKitties, have developed their own block- chain for NFTs and gaming called Flow. Forks of Ethereum like Binance Smart Chain (BSC) and Tron have token standards similar to those of Ethereum. NFT A New Fancy Technology In this edition of The Bridge, we first cover what drives the need for NFTs and the technol- ogy behind them. We discuss the nature of NFTs and how they are not the asset itself but a deed to it. Then we cover some of their use cases be- yond digital art. We also give an investment framework to value collectible NFTs. Finally, we discuss some of the criti- cism that NFTs have faced and how they might be mitigated. 3PDF Image | NFT New Fancy Technology
PDF Search Title:
NFT New Fancy TechnologyOriginal File Name Searched:
seba-bank-the-bridge-nft-may2021-en.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
| CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com | RSS | AMP |