Aug 9, 2021
What are Non-Fungible Tokens?
Non-Fungible tokens are crypto tokens that are mainly used to represent ownership over a physical or digital asset. These non-fungible tokens have a unique value which makes it impossible to be interchanged with other non-fungible token of the same type. It can be used in game collectibles, virtual land, art items, music etc. Such beneficial use cases has led to a huge demand for NFT token development services. Below mentioned are some of the popular NFTs in 2021.
Theta is an open-source blockchain network that allows to build Dapps where the videos can be delivered in a peer-to-peer manner. This blockchain offers free and high bandwidth to deliver the content. This p2p platform offers various content types like movies, Tv series, sports, music etc. It also rewards its users in tokens and in real-time payment for watching videos and distributing the content. At its growth rate, many believe that Theta will create a strong impact on the future of the video sharing platform.
Chiliz (CHZ) is a token that is being used mainly in the sports and entertainment platforms. The main objective of CHZ is that to bring sports closer to its fans and let them become a part of the sports and enables them to make decisions. To do so it offers a concept called Fan Tokens which enables the common fans to participate with top sports organizations. These tokens also allow the user to take part in club based polls & surveys and offers them a chance to vote in the decision-making.
Decentraland is an Ethereum based platform that allows its users to purchase virtual land and control the applications and environment which they create within their virtual land. This platform lets it users to have non-fungible ERC721 token as a proof of the ownership that they have over a virtual land. As the practise of real estate tokenization has improved worldwide, this Decentraland might be a promising business concept soon.
Enjin is a software based on blockchain technology that is used to manage several entities in the gaming environment. It enables the gamers to tokenize their gaming assets with ERC-20 token, and also allows the users to buy and sell those tokens for real world money.
Tezos is just a decentralized ledger used in the blockchain network. Similar to Ethereum, Tezos is mainly created to make use of smart contracts. It aims to provide advanced functionalities to over come the risk of hard fork faced in the blockchain networks like Ethereum, Bitcoin etc. The native token here is XTZ which is mainly used to pay fees in the platform. The token holders can also vote on the proposals made by the developers.
With such functionalities, these tokens have shown astonishing growth in the market in recent days. Along with these above mentioned tokens, several other tokens with more lucrative factors have attracted many investors towards the NFT marketplace. If you are one among them, then reach out to Security Tokenizer. As the best token development company, we can provide the professional assistance that you need in order to initiate your business in the NFT marketplace and help you create your own NFT token based on your business requirements.
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