What Makes AMP so Astonishing
June 17, 2021Polygon’s Compounding Success in the Industry!
June 17, 2021
Introduction:Non-fungible tokens or NFTs, as they are commonly known or considered to be the next big thing in the crypto world. As much as 2017 was the year of initial coin offerings and 2020 was the year of decentralized applications, 2021 is considered the year of NFTs.To understand what these NFTs are, you will need to understand the concept of fungibility.What is Fungibility?Fungibility is the possibility of an asset being exchanged for another similar asset without any change in value. The best example of a fungible asset is the dollar. You can exchange a $10 note for any other $10 note without any change in value. Although those two notes might not be the same, there is no change in value.Mainstream crypto coins like bitcoin are also considered fungible as they can be exchanged and broken down into smaller constituents and sold in parts.Non-fungible tokens, on the other hand, are unique and cannot be broken down into smaller parts. They have to be either sold in full or not sold at all!The possibilities with NFTsNon-fungible tokens, with their uniqueness and the versatility of blockchain technology that gives them support, present a wide variety of applications. It has been used by celebrities like Lindsay Lohan, musicians, and digital art creators. However, one of the most prominent applications of the NFT is in the world of video games.A Brief History of Blockchain and Video GamesVideo games have been existing for a long time even before the Super Mario Brothers became a global hit. However, with the introduction of the video game called CryptoKitties in 2017, the gaming world changed. This was a game where players could buy, collect, and sell virtual kitties. Every kitty that was created in the game was unique. There was a sense of ownership, and the uniqueness of…
