Have you heard about Non-Fungible Tokens (NFTs)? I bet you have heard about them. They are special crypto tokens that allow you to own a digital asset with only one address. By implication, NFTs empower you to be the sole holder or investor in a digital asset. That way, there wouldn’t be a compromise, loss of data, or even manipulations because you are fully in control of the asset.
However, there is a new type of tradable digital asset in the cryptocurrency industry. Only a few cryptocurrency enthusiasts are aware of it. This type of tradable digital asset is called Semi-Fungible Tokens (SFTs).
Semi-Fungible Tokens (SFTs) are the opposite of Non-Fungible Tokens (NFTs) because they offer varied features to the latter. Some of the features of SFTs are:
- One address or wallet can own multiple copies of a crypto token.
- SFTs also works by allowing each of the token types to be owned by multiple digital wallets and addresses.
Semi-Fungible Tokens (SFTs) are denoted by the Ethereum ERC-1155 standard token.
There are several SFTs out there. Semi-Fungible Tokens (SFTs) aren't a new phenomenon because they have been in use since 2019. As of September 2019, OpenSea, one of the leading marketplaces for NFTs had listed about 17 SFT games that are based on the Ethereum ERC-1155 standard token.
Introducing BucksCake
I am thrilled to announce that there is a new ERC-1155 standard token. This will join the already-existing 200,000 SFTs.
The name of this new SFT is BucksCake token (BKC). It is the native currency and crypto token of the BucksCake ecosystem. The ecosystem is not only focused on Decentralized Finance (DeFi). It also offers a wide range of DeFi services to help DeFi investors get the most out of their investments.
Features of BucksCake Token
Now, let me tell you about the features of the BucksCake token (BKC) so you will see reasons to invest in this new ERC-1155 standard token.
- Buyback Mechanism
An increase in the value or price of a crypto token is one of the reasons why investors commit money to the token in the first place.
Recently, different crypto tokens have introduced different methods of increasing their value/price. One of those steps is to use the Buyback Mechanism. The working of this mechanism is that it allows the founders of the crypto token to buy back or purchase some units of the token.
The purchase or buyback can be for many reasons, including burning the tokens so that only a few units of the token will be in circulation. That way, the demand for the token will be higher.
- Passive Income
The BucksCake token (BKC) can also be used to earn passive income. This is possible because of the Yield Farming feature that allows the holders of the BKC token to farm new tokens and earn passive income for doing so.
Final Words
Semi-Fungible Tokens (SFTs) are going to be as popular as Non-Fungible Tokens (NFTs). For crypto tokens like BucksCake token (BKC), it will be a bumpy ride to adoption and increased value because the use cases are something the prospective investors can relate to.
USEFUL LINKS
Telegram Group: https://t.me/BucksCakePublicChat
Telegram Channel: https://t.me/BucksCakeHub
BucksCake's Homepage: https://buckscake.com
BucksCake's Twitter: https://twitter.com/bucks_cake
AUTHORS DETAILS
Bitcointalk username- Kakal
Bitcointalk Profile- https://bitcointalk.org/index.php?action=profile;u=2767315;sa=summary