Non-Fungible Tokens

A Non-Fungible Token (NFT) is a special type of token that represents a digital or physical asset's ownership. An NFT can be an on-chain proof of artwork, a game asset, music, real estate, digital or physical any kind of data, documents, etc. Anything can become an NFT as the NFT itself holds a link to the asset data itself.

One of the key drivers of this type of crypto asset is uniqueness. When you create an NFT you simply create a unique asset that is stored on-chain with a specific token ID on a contract. This is not possible for anyone else and your asset remains unique forever on-chain. This brings scarcity, and this is what artists need for their masterpieces.

Use Cases

But the use cases of NFTs are not limited to only art or some animal pictures. You can find a lot of use cases developing on Concordium in the following:

  • Carbon Credits and Carbon Marketplaces.

  • Real Asset-Backed & Redeemable NFTs and Marketplaces

  • In-Game Assets and Item Markets

  • Token Gated Metaverses

  • Music NFTs and IP Rights

  • Esports and Game Tournaments

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