Steemit Crypto Academy Season 2: An Introduction to Non-Fungible Tokens (NFTs) @gaby7491

in hive-108451 •  4 years ago 



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NFTs are non-fungible unified tokens, because they cannot be exchanged, they are related to the ethereum blockchain (ETH), this means that for cybercriminals it makes it impossible to falsify them, but thus there is the possibility to do so, since this type of token works through smart contracts, which makes them a bit vulnerable, another positive part is that the tokens that exist are rarely seen and their value is higher than tokens that we commonly see in the market, I mention this because the difficulty to acquire these tokens increases since there is no replica, this is currently seen and happens with articles on virtual games and on ancient art, especially articles of deceased celebrities among other cases, the use of the NFT token can be mentioned that it is created by one person for the benefit of a rarely seen product. They are known as ERC 721 tokens.




Decentraland


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It is a game of NFT tokens, this project is composed under the ethereum blockchain, it is a virtual world where the investor can buy and sell properties, also a new way of being within the virtual world is being implemented, a place where You can pay in shops and you can also communicate with other users. This virtual reality game works with an internal token named "Mana" which is an ERC20 token that can be used for internal benefit within the game. It works in a decentralized way for a better management of content within the game, it also has another alternate token to "mana" called "Land" which is non-fungible NFT, this is used to acquire square meters of land within virtual reality.


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Decentraland is a virtual game where your ability to build a better world is essential to possess, the NFT “mana” token cannot be acquired through bank cards, but you can do it by exchanging through coinbase to another Exchange that exchanges “MANA” tokens from decentraland, may have certain transfer fees..


Current value of the “mana” token.


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According to my research, a famous painter joined this video game and he himself created fictitious paintings but with a document that endorses that it is from the painter, he made an auction of more than 20 paintings and raised more than 3 million dollars, think that these things are possible is something that is difficult to understand, but the reality is currently changing and the use of cryptocurrencies is changing the course of the world economy.


Thanks for reading my homework.


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@levycore
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Hi @gaby7491, thank for submitting your homework

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Your explanation is not what I expected. I wish I could find the real deal of the mentioned platform.

Rating : 4