Introduction

Non-fungible tokens (NFTs) seem to have exploded out of the ether this year. From art and music to tacos and toilet paper, these digital assets are selling like 17th-century exotic Dutch tulips—some for millions of dollars.

But are NFTs worth the money—or the hype? Some experts say they’re a bubble poised to pop, like the dotcom craze or Beanie Babies. Others believe NFTs are here to stay, and that they will change investing forever.

What Is an NFT?

An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. A staggering $174 million has been spent on NFTs since November 2017.

How Is an NFT Different from Cryptocurrency?

NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends.

Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another. They’re also equal in value—one dollar is always worth another dollar; one Bitcoin is always equal to another Bitcoin. Crypto’s fungibility makes it a trusted means of conducting transactions on the blockchain.

How Does an NFT Work?

NFTs exist on a blockchain, which is a distributed public ledger that records transactions. You’re probably most familiar with blockchain as the underlying process that makes cryptocurrencies possible.

Specifically, NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.

An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:

• Art
• GIFs
• Videos and sports highlights
• Collectibles
• Virtual avatars and video game skins
• Designer sneakers
• Music

Even tweets count. Twitter co-founder Jack Dorsey sold his first ever tweet as an NFT for more than $2.9 million.

Essentially, NFTs are like physical collector’s items, only digital. So instead of getting an actual oil painting to hang on the wall, the buyer gets a digital file instead.

What is DNP Token?

DNP Token is the native currency that will be used in the NFT DNP Ecosystem, This token is based on Blockchain Technology and is distributed via Binance Smart Chain (BEP-20), It is a utility token with a fixed supply and cannot be minted, This token also implements the Deflationary mechanism thus ensuring the value will be maintained and eliminate inflation. In addition to this, the DNP Token also integrates a Tax Fee for each transaction of 6% which is distributed to holders, liquidity & burn pool and Development wallet so that at the same time it provides passive income to its holders with a fair distribution that maintains liquidity and the value itself. Holders get various benefits such as paying for services in the ecosystem, passive income, discounts, exclusive content, etc. This ensures a wider use case and increases Demand over time.

NFT Market Growth

The development of the Blockchain Market is very rapid through Cryptocurrency and besides that NFT also gets Spotlight at the right time where the traditional content market requires a system transition to a better one. Blockchain technology offers this with a more transparent and innovative ecosystem, the NFT Market itself has doubled compared to the previous few years with a target market of $1 Billion by 2025. Blockchain technology itself is a suitable basis for these various ecosystems and therefore DNP NFT Ecosystem is a bridge for traditional content markets to enter the Blockchain market through the concepts offered by them, Ensuring transparency with profitable Long Term Planning.