Can someone help me understand NFTs?

[entropy_itself 1]

Hello,

 

I’ve seen non-fungible tokens (NFTs) about, such as Binance’s, and I’m unsure as to their purpose. Are these the “collectibles” I’ve seen tabs for in wallets? If so, what are those, what do they do?

[Jeet Narayan 1940]

Actually, NFTs bring on market in 2017. NFTs is one kind of assets and good of items. This projects usually not high using in Crypto world. If you want to more information about this project then you can see full article in blockonomi.

[PiroSense 2681]

On 2/23/2020 at 7:05 PM, entropy_itself said:

If so, what are those, what do they do?

These are just tokens mainly used in gaming. These assets/tokens are not interchangeable with other similar types of token, and therefore could be exchanged outside the game platform, whether be it third-party marketplace or P2P direct selling of these tokens.

[Rickso 768]

On 2/23/2020 at 12:05 PM, entropy_itself said:

Hello,

 

I’ve seen non-fungible tokens (NFTs) about, such as Binance’s, and I’m unsure as to their purpose. Are these the “collectibles” I’ve seen tabs for in wallets? If so, what are those, what do they do?

NFTs are just a sort of warranty for a collectible dapp games, so it represent something unique online. 

so in real life you can collect Magic (the card game) card and those are physical, so you can touch them and you can have the property

NFT is the same thing but online. so you can't touch them and the property of that collectible is given by those tokens

[rekter 8129]

On 2/23/2020 at 1:05 PM, entropy_itself said:

Hello,

 

I’ve seen non-fungible tokens (NFTs) about, such as Binance’s, and I’m unsure as to their purpose. Are these the “collectibles” I’ve seen tabs for in wallets? If so, what are those, what do they do?

They differ from fungible tokens as every nft has their own properties tagged into them. They can represent a picture, stats, or anything really. Fungible assets don't differ from each other in any way like there's no difference between coins and you can just pile them and use as a payment. Paying with non-fungible tokens would be like paying something with your car, or a painting, different tokens have different interested buyers, some don't have any and some are harder to sell.

Edited May 25, 2020 by rekter
typo: fungible to non-fungible

[kadayakito 765]

NFT tokens are quite popular but in cryptocurrencies I don't see it being mentioned much, it has been around for a few years, I've found it used in gaming, I don't like the token in general. because of its low value.

[BTC Future 3946]

NFT's are tokens under the Ethereum protocols ERC-721 and ERC-1155.

They are basically used as collectable tokens and NFT stands for Non-Fungible Tokens, meaning they are unique and can be identified among the rest.

 

 

 

The ERC 721 came to light in 2017 with the success of cryptokitties, while the ERC 1155 standard was developed by Enjin and is widely used by blockchain games. ERC 1155 can be used for issue of fungible tokens as well.

[teminalibug 309]

On 2/23/2020 at 2:05 PM, entropy_itself said:

Hello,

 

I’ve seen non-fungible tokens (NFTs) about, such as Binance’s, and I’m unsure as to their purpose. Are these the “collectibles” I’ve seen tabs for in wallets? If so, what are those, what do they do?

Maybe they are categories for tokens made by some company inf not binance themselves, just like ICOs, IEOs and others,

[Yunusalemu 0]

I totally also have no idea about what is is or means, i was thinking of googling it but i thought why not just post a moral boosting comment to see if someone would help us explain tbe main point of it an save us the trouble of researching it

[Rezort 846]

It is just some way to make cryptocurrency unique or crypto system, dApps most of the times use nft tokens in order to create unique items, however there is much more about nft which I don't even understand.

[Upright 2688]

The way which I've understood on my part of the nfts, is like a collectible coin as a game assets which we can say it's like a Dapp which collectible assets can be gotten from, as from most indications it can be exchanged from it's internally system to other coins. As it can be exchanged outside like in p2p system if available

[bitcoinb 1359]

@entropy_itself  @Rekter gave you the best answer. Yes, they are the collectibles you already saw. The best example is Cryptokitties pets.

[magd 5231]

I have little information about this symbol but I know that it originated in 2017 and it is one of the not-for-profit symbols in trading and investment and depends on faucets and there is a great difficulty in storing it. I advise you to choose a better currency if you are looking for symbols for long investment

[alfonsoriver57 17]

The ones I read about the NFT token, non-fungible token or collection token, are about one toke that is unique, there is one that has great value, it depends on the amount and rarity of the token but they are really collectible

[ZEGUHA 21]

NFT tokens are quite popular but in cryptocurrencies I don't see it being mentioned much, it has been around for a few years, I've found it used in gaming, I don't like the token in general. because of its low value

[Anshamaraam 327]

Hello dear ,i have been made a video on My youtubr about NFT.

But i will tell you here that you will understand more easily.

Actually NFT is one of the asset trading in many platforms but opensea is of the best. If you see NFT in your wallet just search opensea.io in your Dapp and go to sell your items. Make an order and sell it easily.