What is NFT? What is NFT? The difference between NFT and lottery and How to find it, as well as the difference from tokens

　　What is NFT? What is NFT?

　　NFT Concept

　　On the blockchain, cryptocurrencies are divided into two main categories: native coins (Coin) and tokens (Token). Native coins like Bitcoin and Ethereum have their own main chains and use transactions on the chain to maintain ledger data. Tokens are attached to existing blockchains and use smart contracts to expand the ecosystem, such as various Tokens issued while attached to Ethereum.

　　Tokens can be divided into two types: homogenized and non-homogenized. Homogenized tokens, also known as FT (FungibleToken), refer to tokens that are interchangeable and can be split almost infinitely, such as: dividing one Bitcoin into ten parts, each part being 0.1 Bitcoin, with no fundamental difference between them; whereas non-homogenized tokens – FungibleToken (abbreviated as ‘NFT’) are unique data representations recorded on the blockchain that cannot be copied, replaced, or split, used to verify the authenticity or rights of specific digital assets. NFTs can be used to represent certain assets, such as ticket-type NFTs, which are indivisible because a half-ticket cannot be used. What types of digital collectibles are available on the Rare NFT platform?

　　The digital collections on the Rare Item NFT platform include four types: album, work, collection, and blind box?

　　1. Collection: A collection can be forged from 1 work, making each digital collection unforgeable and permanently preserved.

　　2. Blind Box: Online blind box lottery, double heart, surprise all the time.

　　3. Work: Each work includes a single collection or multiple works, forged into a collection through the ERC721 or ERC1155 protocol.

　　4. Album: A collection of works of various types and batches. What is the NFT that capital is疯狂 pursuing? One article will explain it to you in detail.

　　What is NFT? NFT is composed of the first letters of the three English words Non, Fungible, and Token, and is translated into Chinese as Non-Fungible Token.

　　Even if it is directly translated, I think most people may not understand what Non-Fungible Token is. Here I will give you a simple example and you will definitely get it immediately.

　　If I have a 100 yuan RMB in my hand and you also have a 100 yuan RMB, I want to exchange it with you, you would think, no problem, let’s exchange it. Because two 100 yuan notes have the same value. But if the 100 yuan in your hand has Jay Chou’s signature, when I want to exchange my 100 yuan with you, you wouldn’t exchange it with me because the value of your 100 yuan might be worth 100,000.

　　This is what is meant by Non-Fungible Token. They look the same, but their value is different. The 100 yuan with Jay Chou’s signature is unique.

　　Why has NFT been particularly emphasized by the entire tech circle and trend circle in recent years?

　　Because on March 11 last year, Christie’s held an unprecedented digital art auction. In the past, digital art could not be auctioned in the auction house, an important reason being that digital archives are easily copied and cannot be verified for their origin and authenticity.

　　Everyone should have seen this work on the screen now. This work is from an American artist named Beeple. He spent fourteen years uploading a digital art creation every day on his social network, so this work was auctioned at Christie’s on March 11, 2021, named ‘5000 Days’, and the final auction price was 69 million US dollars.

　　So, before we start today, let’s give everyone a gift worth 69 million US dollars!

　　The pictures I provide are high-definition. Everyone should quickly download this picture or save it quickly.

　　So, you might be wondering if the pictures saved on your phone are exactly the same as the ones in the auction. The answer is, they look completely identical, but if we were to sell this picture to someone today, would anyone be willing to buy it? There’s no willingness to buy it, just like when I was going to exchange the 100 yuan with your signature by Jay Chou that you have in your hand. You wouldn’t want to exchange it with me because the value is different, because there is this unique signature.

　　That’s why, with the NFT technology, digital art can now enter the auction house because we can know its origin and consider it a unique creation.

　　There are several core technologies behind NFTs, the first of which is, of course, blockchain technology. Although blockchain technology is not the focus of today’s discussion, it is necessary to mention it briefly.

　　In the entire NFT issuance process, there is a role called the issuer, who must mint his product through some platforms on the blockchain, such as the art creation mentioned earlier, which must go through a minting process in collaboration with Christies and the blockchain. Therefore, there must be a platform that issues a smart contract, which records that this art work is a unique creation on the entire blockchain. So how do we verify its uniqueness?

　　I think this is the most confusing point for everyone. Please take a serious look and clap your hands to pay attention.

　　Because blockchain has a feature called a classified ledger, it is not like traditional works or computers that are only recorded in a centralized company’s main server. It is not composed of a single computer but is recorded by millions of computers on the entire blockchain. Therefore, this record will be recorded on different computers, and these points of record are called ‘nodes’.

　　These people’s creations are recorded on different nodes, and each node will write: ‘Today, there is a creation, which generates this contract through this platform and leaves a block in it.’ These blocks are called ‘block’. Every subsequent transaction will be linked through the next block, so when all the blocks are connected, we call it ‘blockchain’, which is the origin of blockchain.

　　Let’s imagine what would happen if someone wanted to tamper with this work or steal it today. It would have to modify so many records on computers at the same time, which is actually impossible because there are millions of nodes around the world recording this classified ledger. It is because of this characteristic that the uniqueness of the issuance mechanism can be ensured.

　　This is not the most critical point of smart contracts. The most important characteristic of NFTs that smart contracts confer is that they can be executed automatically and continue to create value and distribute profits in the process of creation.

　　For example, after a publisher issues a work, a buyer A wants to do business with him. However, for traditional art paintings, after I sell a painting to this buyer, how he disposes of it is his right. For example, he may take it to a second-hand trading platform or a platform like Christies for auction. However, for creators, there is no income after the second-hand transaction, except for reputation. But where does the new and different value brought by smart contracts to all creators or artists lie?

　　If a buyer wants to buy this NFT made by the issuer, for example, if the buyer’s bid is one million, in every transaction, we must pay a 2.5% commission to the platform, for example, 25,000 yuan. But at this step, I need to pay a royalty of 100,000 to the issuer, plus 875,000 yuan for the buyer’s purchase of the work. These three amounts constitute the total transaction amount of 1 million yuan. It may not be felt in the first transaction, so what’s special about it?

　　In fact, when the second transaction occurs, that is, when Buyer A sells to Buyer B, the selling price of Buyer A and Buyer B is two million. The distribution of these two million is related to a 10% royalty, so the creator will receive a royalty income of 200,000, and the remaining 50,000 goes to the platform, and the 87.5% of the remaining 2 million is given to Buyer A. Therefore, through the automatic delivery of smart contracts, the issuer can obtain a continuous royalty income, not just a one-time transaction income.

　　You can imagine that an artist may not be successful during his lifetime. Why? Because everyone hopes he dies, and his work becomes unique. Now it’s not necessary. I can issue many unique works while I am alive, and my sales can avoid the hype of collectors or some activities or commissions on second-hand trading platforms, and the profits can stay with me. This makes the artist a profession that can be realized in the long term.

　　In fact, the impact of smart contracts on NFTs is far more than just art. Imagine if you are a real estate developer responsible for building houses. When I sell the first house to Seller A, it’s a traditional transaction. However, if Seller A sells the house to Seller B, 10% of the transaction amount will go back to you. At this point, the logic of building houses is different because you will consider how the house can be traded sustainably, and the more it is traded, the more it appreciates, and the higher the income you can obtainlottery local and Latest Address. This breaks through the traditional transaction logic.

　　Of course, it’s not just about physical objects; as mentioned earlier, the logic of house construction and trading is different. I’m not just calculating the income minus the cost when I bought my first house, but I hope my method can be traded sustainably and even appreciate. Because with every appreciation and transaction, I will receive a certain royalty income back into my account. Therefore, I hope my house can be used for a long time and can appreciate in the long run. We need to think about whether other industries have such a possibility.

　　If you were a famous interior designer before, and you had to draw an interior design plan for every house, right? Now you don’t need to anymorelottery helpJust need you. You just need to draw one design plan, because your design is a masterpiece, so other designers will buy your design plan to slightly modify it to become their own. So, as long as you draw one plan, you can receive 10% of the copyright fee every time other designers use your design. Isn’t that great? And as more and more people use your design, you will become more and more famous.

　　Insurance sellers are the same. Now, insurance must rely on the insurance policies of insurance companies to determine whether to issue insurance money. In the future, this will not be necessary. In the future, these insurance brokers only need to create a smart contract, which can build and use some insurance combinations according to the conditions of the buyers. When something happens to you, the smart contract will automatically transfer funds to your account, and even it can extend the value of your insurance policy to the next generation.

　　So insurance professionals are the same. Your job now is to maintain this series of protections, but the protection of the next generation can also be entrusted to your children to inherit, because smart contracts can automatically help you make such transactions, and it will generate a continuous income.

　　Of course, you can associate with more, such as lawyers and medicine. Every day, many people carry your smart electronic devices, which may collect your sleep data.

　　But have you ever thought that your sleep data can actually be sold for money? When research institutions need to conduct sleep research, they need to collect information from many people into their database to connect these data. But your data itself is an NFT, and you can sell it to research institutions that truly need your sleep data. Then, by its use, every time you go to use research, you can receive a certain amount of money. So this smart contract can be applied to many different fields, not just art creation.

　　NFT has changed the form of the entire trading value chain.

　　In the past year, the most famous case is a series of NBA TopShot cards issued by the NBA, which record the exciting moments of basketball and are classic, such as the recent dunking moment from LeBron James.

　　Congratulations to anyone who has watched this video, as you have earned 200,000 US dollars. Because this 24-second dunking video of LeBron James, as an NFT on the blockchain of NBATopShot, has already sold for more than 200,000 US dollars in 2021.

　　Many people would say that we can all see the same video online, so why should I spend money to buy it? Of course, everyone has their own reasons. The reason to buy it is like the traditional player card, which has a very familiar trading market, and everyone will collect it. I think modern people all love collecting things, don’t they?

　　These moments can be avoided when these cards are issued as digital player cards. The first is counterfeiting, because they are issued by official NFTs through blockchain, making them unique. The second is that it extends the storage period, because traditional printed cards may produce many risks over time, such as missing and loss, piracy, and damage and yellowing, which may affect their collection value. Digital player cards do not have such problems.

　　When we buy NFTs, some people do it because of personal preference, I like this thing and like to collect, and some people do it because of speculation. When I buy, NBATopShot is the cheapest, costing only nine US dollars, but after purchasing and opening the blind box, the price may rise 10 to 20 times. Of course, there are also those who simply want to show off, to炫耀 that I also own this card, and want to show it to others. These are many different reasons that attract the public to participate in NFTs.

　　However, I personally suggest that when most people are not very familiar with the true ideology of NFTs, there are many unknown risks or technical considerations hidden within them.

　　When we know that there is such an application in the field of art, and the issuance of NBA player cards has already formed a relatively mature and clear market, and blockchain is being introduced into other fields one after another, how can we participate in the issuance, purchase, or collection of NFTs? There are several basic steps that must be involved in.

　　The first necessity is to have a wallet for Online casino and How to find it, which is simply a wallet. The wallet for Online casino and How to find it is somewhat like everyone’s bank account, but the biggest difference is that because blockchain is decentralized, there is no single bank or central regulatory unit managing these Online casino and How to find it. Instead, it is through each individual’s computer, which we call a node, or those who provide computing power for mining, which we call miners, that they store the computing data of these Online casino and How to find it.

　　Our sports betting and How to find it is divided into three main types, the first one being a centralized wallet, which is more like a traditional institution, such as an exchange or a company where Online casino and How to find it can be traded, and it will provide you with a trading account.

　　The second one is a cold wallet, which is a hardware device that is not always connected to the network. It may be a USB disk that records your public and private key passwords. When you need to access your wallet, you insert it into the computer or device and then access your wallet.

　　The third one is an app or a web browser program, which may be in your phone or computer. When you need it, you can access your currency with your private key password.

　　Of course, there are differences in security and convenience, but in short, we need a place to put Online casino and How to find it.

　　The second step is to buy these cryptocurrencies. There are several ways to do this, such as the centralized exchanges I mentioned earlier, the New York Stock Exchange, or the foreign exchange trading floor. One way is to exchange directly, for example, with the current price of about 50,000 RMB for one Ethereum, you can exchange 60,000 Taiwan dollars for one Ethereum. You can exchange in this way, and the second way is like buying foreign exchange or stocks, where you can set the price you want to buy, and then the transaction is matched by the two parties in the centralized exchange.

　　Of course, you can also use the P2P method. If you find it particularly麻烦, if someone around you has Ethereum, I can buy it from you. This is also okay, you can directly transfer RMB to me, and then I will transfer Ethereum to your cryptocurrency wallet through my cryptocurrency wallet, and that’s it.

　　The third part is to choose a platform for issuing NFTs. For example, as mentioned earlier, you can build a public chain on the blockchain yourself, like NBATopShot, which is built on the blockchain of flow, or we can choose the mainstream Ethereum as the issuing platform. There are some publicly issued platforms on it, and you can issue my NFT by paying the minting fee through a cryptocurrency wallet.

　　Of course, if we hope that NFTs can be sold and traded, the most important point is actually marketing and promotion. I don’t know if you have heard that many celebrities have also started to issue their own NFTs recently. For example, the founder of Twitter turned the first tweet he sent into an NFT and sold it on the blockchain, and it was sold for over two million US dollars. So it is a unique mark accumulated over a long time, and it is a proof of its unique value with a time stamp.

　　Regarding the future development of NFTs, if you search on Google, many people will say that it will be a bubble or even a scam. Well… that’s not entirely wrong, because the value of NFTs increases too quickly, and there are too many people who want to make a profit through speculation and speculation, just like the dot-com bubble crisis in 2000. Therefore, a wave of bubbles is bound to occur in the future.

　　However, this technology will still remain after the bubble, and it will be applied in more different industries.

　　Not only for commercial use, in the future, including the graduation certificates we receive when we go to school will also be a piece of NFT, because there are already a lot of fake graduation certificates and work certificates. How can you verify them no longer through manual methods, but through the time stamps on the blockchain to verify with the issuing unit.

　　In fact, MIT has done such things two or three years ago, but in the future, it will be more widespread, and the government will also have more applications of blockchain and NFTs.

　　For example, many trees can only be cut down by the government. If each tree is labeled with a unique tag, the market can judge who is illegal when purchasing. This can be used as many possibilities in commercial or legal applications, despite the risk of bubble formation in the future, but the application of this technology will continue to develop in the present.

　　Just like how every company needs a website now, and how everyone needs social media apps on their hands, in the future, everyone will have a public encrypted currency wallet. In the public wallet, there are various collections and membership cards. Whether you are attending an event or going to a shopping mall to park, you can simply use this encrypted currency to sense it and know how long your membership is valid, and it can be directly deducted from your encrypted currency wallet without you needing to make any discernment or action. Because everything is recorded on the blockchain, including like Elon Musk, saying that he drives a Toyota, we all know that his company is Tesla, so why does he mention Toyota?

　　If we see what kind of car he drives, what kind of bag he buys, and how many cryptocurrencies he collects in his encrypted currency wallet today, it is the reason why another currency called Dogecoin surged last year. This publicly available cryptocurrency is a great brand promotion, because everyone wants to know what others collect, thereby understanding many consumption habits.

　　Maybe there are still some people who cannot understand why NFTs are suddenly so popular. The liquidity of NFT collections is not strong, what is the significance of holding these assets? NFTs can be copied, why spend a high price to buy them?

　　Perhaps it all makes sense in the context of the open world of the metaverse.

　　The movie ‘Ready Player One’ once made a beautiful prophecy about the future world. In the world of Oasis, everyone has the freedom to take on roles, where classic characters from different dimensions gather, and rich digital content and items can be freely traded. In this glittering virtual world, a loser in the real world can also become a superhero.

　　“Behind every dream, there lies an energetic and adventurous person. They expect nothing but surprises.”

　　Hal Finney’s words may be the best explanation for the current NFT frenzy.

　　The next issue will talk about the story that cannot be told without the metaverse and NFT, please look forward to it.

　　The image is from Unsplash, based on CC0 protocol

　　60 seconds to understand what NFT is

　　With the development of blockchain technology, NFT has become one of the most popular concepts in the investment circle. A painting, an avatar, or even a stone can be packaged into the form of NFT. It can be said that everything can be NFT. From abroad to home, NFT is constantly refreshing the public’s cognition and gradually penetrating into various fields.

　　NFT, also known as Non-Fungible Token, is a digital certification method with features such as non-replicable and uniqueness. It can be used to anchor real-world physical goods and has a natural advantage in fields such as authenticity verification, ownership, and copyright confirmation.

　　Due to the frequent emergence of problems such as piracy, account theft, and plagiarism, the value of digital art works is greatly threatened. It is the emergence of NFTs that has well-solved the issue of ownership of digital assets, thus achieving a great explosion in the cultural and creative art field.

　　The value of NFTs is far beyond this, and the fields in which they can be used are constantly expanding. The related tracks of NFTs have been opened, and the application scenarios of NFTs are growing and developing at a rapid pace, like nuclear fission. Now, tickets for concerts, movies, dramas, trains, and planes can all be marked with NFTs. In the game world, they can also be used to protect players’ assets, such as equipment, titles, and in-game currency, and have sparked a new wave in the gaming field.

　　Recently, the limited gold version of the popular metaverse game BladeWarrior NFT is about to be launched on the OKEx NFT market. As one of the first projects to be launched on the OKEx NFT market, BladeWarrior has a high level of popularity and user base. The game has been officially launched on OEC and started public testing, achieving good results. Interested users can log in to the OKEx NFT market in advance to participate in the NFT auction.

　　Different from the previous blind box release and purchase methods, this time the limited gold version of BladeWarrior on the OKEx NFT market is one red and three gold, with a total of four pets. They will be auctioned on the OKEx NFT market, which is the first time NFTs have been sold through auction on the OKEx NFT market.

　　According to the official introduction, the BladeWarriorNFT auction cycle lasts for a total of three days, during which the starting price of red pets is 100USDT, and the starting price of golden pets is 20USDT. Users must increase the bid by at least 100USDT each time, and the final transaction price will be based on the highest price displayed at the end of the auction. Those who wish to participate in the BladeWarriorNFT auction first need to download OKExDefiHub (OKEx wallet) or MetaMask wallet to ensure that their wallet has enough tokens. If users do not hold OKT, they can buy it in advance on the OKEx centralized exchange and then transfer the purchased OKT to OKExDefiHub (OKEx wallet) or MetaMask wallet.

　　欧易NFT市场，是欧易OKEx推出的专注于NFT领域的一站式去中心化交易平台，支持ETH和OEC上的NFT资产交易，具有使用门槛低、易用性佳，适合新手交易。目前，欧易NFT市场包含热点、一级市场发行、二级市场交易3大板块。其中热点内将解析接入当前主流热门项目，热门NFT资产将在欧易NFT市场中展现，用户可自行挂单出售，买家也可以对心仪NFT资产出价。平台同时有搜索、排序等基础导航功能。用户点击项目详情，将获取项目NFT项目数量、持有用户数量、地板价、交易量等项目信息。

　　欧易NFT市场累计上线18个历史活动，售出总额超过163万美元，约1.5万人参与，是大热的NFT发行、交易市场之一。nft概念是什么意思

　　全称是Non-FungibleToken，中文名称为非同质化代币。这种代币是无法替代的通证，比特币是一种可替代的通证

　　每个代币可以代表一个独特的数码资料。由于其不能互换，非同质化代币可以代表数位文件，如画作、声音、影片、游戏中的项目或其他形式的创意作品。虽然文件（作品）本身是可以无限复制的，但代表它们的代币在其底层区块链上被追踪，并为买家提供所有权证明，诸如以太币、比特币等加密货币都有自己的代币标准以定义对NFT的使用。

　　NFT（不可替代的通证)是包含智能合约中记录的识别信息的数字资产。

　　正是这些信息使每个NFT都是独一无二的。因此，它们不能被另一个令牌直接替换，因为没有两个NFT是相同的。相比之下，钞票就可以简单地兑换成另一种；因为如果它们具有相同的价值，那么持有人之间就没有区别，例如，一美元钞票和另一美元钞票。

　　不可替代的代币(NFT)不可与相同类型的其他资产互换。区别在于每个代币只能由一个人拥有，不能被其他代币替代。从本质上讲，NFT代表了一些独特或稀有的东西。

　　NFT可以代表任何类型的有价值的数字资产。公司开始将它们用于诸如视频游戏中的虚拟物品或收藏卡之类的东西。

　　使用不可替代的代币有很多优点。其中之一是它们的交易成本低，这意味着购买、出售和交易它们以及在钱包之间转移它们都很容易。另一个优点是它们可以在游戏中使用，这使游戏玩家可以更轻松地保存他

　　们的Online casino and How to find it ，因此他们不必将所有时间都花在工作上来获得硬币。

　　What does NFT mean?

　　;?????01

　　NFT, the full name in English is Non-Fungible Token, and the Chinese name is Non-Fungible Token. It has two distinct features: the first is non-interchangeability, each NFT has a unique and unique identifier, and they cannot be exchanged with each other; the second is non-divisibility, the minimum unit is 1.

　　NFT is a Non-Fungible Token, and the corresponding token to Non-Fungible Token NFT is Homogeneous Token FT (Fungible Token), which is another unfamiliar term. But when you mention one of its representatives, it is easy to understand – Bitcoin. FT is a token that can be freely exchanged, divided, and integrated, and has unity. For example, the Bitcoin in your hand and the Bitcoin in my hand are essentially completely identical and have no difference, and can also be divided into pieces, which is a homogeneous token.

　　Although NFT is not as well-known as Bitcoin, in fact, NFT is not a new thing and was born with blockchain technology. It was born in a pixel avatar project called CryptoPunks in the Ethereum in 2017. These avatars have a total limit of 10,000, and anyone with an Ethereum wallet can get them for free, and after getting them, they can be traded on the secondary market. After 6 months, a small game called Cryptokitties (virtual cats) gradually became popular.

　　Based on blockchain, Non-Fungible Tokens (NFT) naturally have scarcity, and blockchain technology endows it with a unique attribute, allowing almost any unique thing to be sold in the form of NFT. Currently, the entire NFT industry is developing rapidly, but most countries have not yet given a clear legal status to virtual assets including NFT, and future regulation still exists many uncertainties. Once global regulation tightens, NFT will undoubtedly suffer a heavy blow, so investors need to remain vigilant. What are the differences between FT and NFT?

　　The essential difference between FT and NFT lies in the different protocols they adopt: among which, FT adopts

　　The famous Ethereum blockchain protocol ERC-20, NFT uses the new Ethereum blockchain protocol ERC-721.

　　Different underlying protocols lead to many differences in interchangeability, unity, divisibility, and compatibility between the two.

　　In addition, in terms of function, FT is mainly used as money (money-like),

　　While NFTs mainly act as thing-like items. The former is like a printing press, producing currency with the same genes;

　　The latter is used to mark the ownership of items. The NFT digital art market showed explosive growth in 2021,

　　Embracing the NFT boom, Sou Yun Technology launched an integrated digital art solution IDA.

　　On July 30, 2021, the famous Chinese old brand Rongbaozhai produced Qi Baishi, Zhang Daqian,

　　The integrated digital art works of Chinese master painters such as Fu Baoshi are about to be launched.

　　For more specific information, please pay attention to the China National Culture Digital Library – Jinzhu Digital Artwork Registration Platform.

　　Six distinguishing features of NFT

　　NFT digital collectibles

　　The full name of NFT is Non-Fungible Token, which means an inseparable token, and is also translated as ‘non-homogeneous token’. The opposite concept is the interchangeable token or homogeneous token, such as Bitcoin and Ethereum, which are popular in foreign mainstream virtual lotteries and Online casino and How to find it — their characteristic is that each coin has the same function and value, which can be exchanged, and can be copied at a low cost, thus having a strong currency attribute in the virtual world. However, the Online casino and How to find it itself has no real existence, and its value is determined by market consensus, that is, as long as most users recognize its currency attribute as the Internet, it has value, so it is easy to encounter the risk of value decline, especially after regulatory issues or security issues. Non-homogeneous tokens, on the other hand, are based on blockchain technology and only have a unique corresponding token, that is, only one NFT token can be generated on each contract address, and this token cannot be divided; it is one or one. For this reason, NFT is also called a data unit on the blockchain digital ledger. Since it cannot be exchanged and can serve as a carrier for storing real assets such as artworks or other financial assets, compared to the strong currency attribute of FT, NFT can exist as an Online casino and How to find it dependent on ‘consensus’ and can also serve as a carrier of real value, thus having more characteristics of value goods. The value of NFT is more stable and has stronger incentive characteristics, with a wider range of applications.

　　The definition of digital collectibles, according to Baidu Encyclopedia, refers to a unique digital certificate generated for a specific work or artwork using blockchain technology. It realizes the true and credible digital issuance, purchase, collection, and use of it on the basis of protecting its digital copyright.

　　In comparison, it can be found that although digital collectibles and NFTs are closely related, their references are completely different. Digital collectibles are the final visible products, while NFTs are more of a technology-based encoding. Most people in China are still willing to call NFTs digital collectibles, which is an unreasonable name adopted to avoid sensitivity. This is because NFTs have not yet been given an appropriate interpretation at the legal or policy level in China, and there is no clear definition of their legal attributes and intellectual property issues. However, NFTs and homogenized tokens use a similar technical foundation. With the increasing market acceptance of NFTs and the gradual promotion of related applications, there will definitely be corresponding policy regulatory measures for the minting, issuance, and circulation of NFTs in the future. Therefore, we can see that digital collectibles from mainstream foreign public chains are temporarily unable to enter the Chinese market for auction, and the digital collectibles currently auctioned in China are definitely settled in RMB.

　　NFT and the blockchain

　　As a decentralized technology, NFT operates on the blockchain. What is the blockchain? It is basically a shared database with some special properties (usually called distributed, but almost means the same thing), also known as a decentralized distributed ledger: composed of a distributed, multi-node network, it abandons the traditional accounting method, allowing each participant to keep accounts and supervise transaction records.

　　Therefore, the relationship between the two is as follows: NFT is based on the characteristics of the blockchain for rights confirmation, obtaining identity identification, and helping to confirm the copyright of every unique thing. NFT can standardize every transaction on the chain based on the blockchain. NFT brings digital assets on the blockchain to real-world scenarios. NFT is an application of blockchain technology, and NFT is a differentiated digital asset issued on the blockchain.

　　NFT and the Metaverse

　　It is said that NFTs can ‘absorb attention wildly’ thanks to the Metaverse boom. Because since the first Metaverse stock Roblox went public in March 2021, the Metaverse has maintained high热度 in the investment circle. Whenever a new emerging industry appears on the wind, capital will quickly explore a profitable model and enter the market. NFT is just such a market.

　　According to the ‘2021 Metaverse Deep Dive Report’, the Metaverse has five main subfields: games, VR/AR, Metahuman (virtual characters), social, and blockchain, with the main application of blockchain in the Metaverse world being NFTs and Defi. Defi is based on blockchain technology, using code to replace the ‘intermediary’ in traditional financial services; NFT is a non-fungible token that creates digital property rights with the help of blockchain technology, both of which can effectively support the economic system of the Metaverse.

　　How to display NFT art

　　There are many third-party service providers offering different ways to display NFT art: such as easily establishing one’s own NFT gallery through a display website and sharing it with everyone. Electronic screens display NFTs more beautifully. Metaverse galleries allow collectors to create a virtual gallery in the world of the Metaverse, sharing their NFT collections with visitors from all over the world.

　　The transactions of NFTs differ domestically and internationally.

　　The current trading mechanism requires preparing an electronic wallet for receiving, storing, and sending NFTs first – which can be a hot wallet (online wallet) or a cold wallet (electronic secret lock or handwritten password) – to handle NFTs. The electronic wallet can be based on software or a physical device, allowing users to trade on the blockchain. Since the electronic wallet has limitations on the types of digital assets it can hold, it is necessary to confirm that one’s electronic wallet allows holding NFTs before participating in NFT bidding.

　　Regarding settlement, although several domestic platforms mainly engaged in digital collectibles have developed their own consortia chains such as Zhixin Chain, Ant Chain, and Zhizhen Chain, their collections are limited to initial purchases and are not allowed for secondary transactions, and have not yet entered the circulation level. Currently, all domestic digital collectible issuance platforms have not opened secondary transactions. The issuers and creators can only obtain the benefits brought by the initial sale, and users only have restricted usage rights but not complete ownership, which means that domestic digital collectibles have not realized true assetization. As a cell of the future metaverse ecosystem and an important factor, the asset nature of NFTs is an issue that must be addressed in the future.
online casino victoryClick to enter
　　The sale of NFTs can be conducted on various platforms for secondary transactions, or entrusted to professional NFT art auction institutions for auction. However, when purely discussing NFT auctions, the NFT auction ecosystem in China is not yet mature, and it is impossible to systematically elaborate on it.

　　NFT transactions are not tokenized

　　The product of NFT transactions is complete, but during the transaction process, different rule designs will be used to split ownership and usage rights, which is completely different from the operation of tokenizing a piece of art in the past. However, this is also one of the risks that need to be prevented, as pointed out in the initiative on preventing financial risks related to NFTs jointly issued by the China Internet Finance Association, the China Banking Association, and the China Securities Association on the 13th. What is NFT currency?

　　01

　　NFTs are non-fungible tokens with characteristics such as indivisibility, non-replacement, liquidity, and immutability, where immutability means that the ownership of NFTs will be permanently recorded on the blockchain unless the user decides to transfer it to another user. Tokens are divided into fungible and non-fungible types.

　　NFTs are not a general equivalent, so we can understand that they are not money in our daily lives, but NFTs and certificates such as contracts and vouchers in our lives have roughly the same functions. The difference is that NFTs are certificates that exist on a new type of internet called the blockchain, and their medium is not just paper. NFTs are non-fungible tokens with characteristics such as indivisibility, non-replacement, liquidity, and immutability, where immutability means that the ownership of NFTs will be permanently recorded on the blockchain unless the user decides to transfer it to another user. Tokens are divided into fungible and non-fungible types. There are multiple differences between fungible tokens and non-fungible tokens.

　　In simple terms, NFT is a block (like a compartment or drawer) on a blockchain (like a filing cabinet), which is the foundation of decentralized digital ledger technology that underpins cryptocurrencies like Bitcoin. NFTs are non-fungible, meaning they are unique and can represent a certificate for something unique.

　　The main application fields of NFT tokens are games, art, domain names, collectibles, virtual assets, real asset tokenization (STO), and other fields, especially art and games which are highly concerned about in the market. Some game items and art works naturally have uniqueness and non-divisibility, which is perfectly coupled with NFT, so NFT can effectively prevent counterfeiting and fraud of such items. What are the differences between nfr and nft?

　　The differences between nfr and nft are as follows:

　　NFR, short for Non-Fungible Rights, is a new digital trading model and new path proposed to solve domestic technical and legal issues in multi-domain digital transactions represented by art works.

　　NFR is a digital asset or a digital representation of unique asset ownership, which also uses blockchain technology and is created based on computer codeonline casino cheatsJust need you. It records the digital ownership of basic physical or digital assets and constitutes a unique authenticity certificate.

　　NFT first appeared in 2014 and began to be taken seriously in 2020, becoming火爆 in 2021. Its characteristics are non-divisibility, non-interchangeability, and uniqueness as a digital token. In a positive sense, NFT can be seen as a digital means for the cultural and artistic industry. Whether it is painting, music, or scripts, digitalization can greatly increase the circulation and asset value of cultural and artistic works, revitalize the art and culture market, and bring about new business models, stimulating market vitality. What is NFT? Why is it so popular?

　　NFT, short for Non-Fungible Token, refers to a unique encrypted currency token that is born with blockchain technology and is used to represent digital assets. Compared to fungible tokens, it has two distinct features: first, non-interchangeability, which means that each NFT has a unique and unique identifier that cannot be exchanged with each other; second, non-divisibility, where the minimum unit of NFT is 1. These two features enable NFT to provide a method for marking the ownership of original digital assets, which has attracted many young people to purchase.

　　With the rise of the metaverse concept, digital collectibles have also become popular. Currently, many internet companies are very interested in digital collectibles, such as Baidu Cloud which has created the Chao Yun Digital Collectible Platform.

　　As digital collectibles are virtual products, many people may wonder about their value. Firstly, the most intuitive value of digital products is their artistic appreciation value. Whether it is from the content, appearance, color, or storytelling, digital collectibles are very appealing and can make people feel novel and interesting. Secondly, the collection value of digital collectibles is very important. Since digital collectibles are limited in supply and not everyone can purchase them, once a purchase is successful, the digital collectible belongs to the buyer. Therefore, whether it is for personal preference or investment considerations, digital collectibles are a good choice.

　　What is NFT?

　　NFT (Non-Fungible Token) is a digital equity certificate generated under the support of blockchain technology, which can serve as a unique right certificate for digital goods such as digital art, event tickets, etc.

　　Each NFT corresponds to a unique serial number on the blockchain, this characteristic ensures its non-tamperability, non-divisibility, and cannot be substituted by each other. These features make NFTs the ideal carrier for digital art, with each NFT representing a specific digital artwork or a single limited edition reproduction, and recording its unchangeable on-chain rights.

　　Therefore, NFTs are fundamentally different from equivalent tokens such as Online casino and How to find it. NFTs have real value and do not have payment functions or monetary attributes.

　　Why are NFTs so popular?

　　As an NFT collector, you not only own a single copy of a specific digital artwork but also can appreciate the work and share the joy of collecting.

　　The emergence of NFTs has expanded the realm of art collections into the digital domain, no longer limited to physical entities. This makes art collections more accessible, allowing more people to become collectors of digital art with limited funds, while avoiding storage and circulation issues of physical artworks.

　　What does the uniqueness of NFTs mean?

　　The uniqueness of NFTs is because they are based on blockchain technology and establish a unique mapping relationship with a specific digital product from the moment of creation, becoming the corresponding and unique proof of right for the digital product on a specific blockchain.online，We need you

　　In the case of limited edition NFT releases, you will own a work with a unique on-chain serial number, like other few collectors. During the transaction process, this unique proof of right transaction information will be recorded and stored on the chain through smart contracts, achieving credible traceability. However, it should be noted that unless there is a special agreement by the issuer, an NFT only has uniqueness on the current specific blockchain.

　　How do NFTs work?

　　Traditional artworks, such as paintings, have value because of their uniqueness. However, digital files can be easily copied.

　　The role of NFTs is to ‘tokenize’ artworks, creating a tradable digital ownership certificate. Similar to cryptocurrencies, ownership records are stored on a distributed ledger called the blockchain, which cannot be forged because the ledger is maintained by tens of thousands of computer nodes worldwide.

　　NFTs can also include smart contracts, such as providing artists with a share of future token sales.

　　To learn more about NFT-related information, please follow 【ONENFT】.