Non-fungible tokens

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Non-fungible tokens ( NFTs ) are unique cryptographic tokens that (compared to fungible tokens such as bitcoins ) are not exchangeable. The tokens are unique and cannot be replicated or destroyed.

description

Non-fungible tokens are used wherever virtual goods can be collected and traded as one-off objects, i.e. for virtual art or individual objects in computer games, v. a. at DApps . Well-known examples are the individual cats at CryptoKitties , each of which is individual and unique and can be transferred to the completely independent game coinsandsteel.com to play with, as well as items created by users in The Sandbox game . Nike holds a patent on its NFT shoe "CryptoKicks". Microsoft has published its own NFT project called "Azure Heroes" on its cloud platform Azure, with the aim of rewarding the developer community. Azure Heroes is based on the new ERC-1155 protocol, which allows tokens to be bundled and is therefore significantly cheaper to use. The protocol was developed and officially recognized by the Enjin team.

A virtual NFT Formula 1 racing car was sold for 415.9 ETH (~ 113,000 US $), and NFT player cards licensed by FC Bayern were sold for 240 ETH (~ 31,100 US $). In 2019, the market capitalization of all NFTs was around US $ 210 million.

The Ethereum community has declared the ERC-721 protocol to be the standard for non-fungible tokens on Ethereum. NEO and TRON are currently developing their own standard.

Individual evidence

  1. ↑ https://blockonomi.com/non-fungible-tokens
  2. ↑ https://hackernoon.com/an-overview-of-non-fungible-tokens-5f140c32a70a
  3. ↑ https://medium.com/point-nine-news/mapping-the-emerging-non-fungible-token-landscape-ee56f0d1079f
  4. ↑ https://cointelegraph.com/explained/non-fungible-tokens-explained
  5. ↑ https://medium.com/@ysiu/the-content-is-the-platform-why-we-bought-pixowl-and-how-the-blockchain-matters-cd962def12bd
  6. ↑ https://coinsandsteel.com
  7. ↑ https://medium.com/sandbox-game/user-generated-contents-meets-nfts-within-the-sandbox-4b865966c54e
  8. ↑ https://thenextweb.com/hardfork/2019/12/10/nike-blockchain-sneakers-cryptokick-patent
  9. ↑ https://de.cointelegraph.com/news/microsoft-revives-nonfungible-tokens-sparks-industrys-imagination
  10. ↑ https://www.cryptoninjas.net/2019/05/30/first-formula-1-non-fungible-token-auction-sold-for-record-415-9-eth/
  11. ↑ https://icoexaminer.com/ico-news/bayern-munich-tokens-sell-for-over-30000/
  12. ↑ https://sludgefeed.com/nft-market-projected-to-reach-315-million-in-2020/
  13. ↑ https://github.com/ethereum/EIPs/blob/master/EIPS/eip-721.md
  14. ↑ https://www.coindesk.com/crypto-collectables-ethereums-next-killer-app-is-on-its-way
  15. ↑ https://medium.com/crypto-currently/the-anatomy-of-erc721-e9db77abfc24
  16. ↑ https://cryptovest.com/news/crypto-collectibles-ethereum-leads-neo-and-tron-hurry-to-join