Non-Fungible Tokens

In this section you'll learn about NFTs and where they are used in CIS-2.

What are Non-Fungible Tokens?

A Non-Fungible Token (NFT) is a special type representing 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 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 create a unique asset stored on-chain with a specific token ID on a contract. This is impossible for anyone else, and your asset remains unique forever on-chain. This brings scarcity, and this is what artists need for their masterpieces.

Where are NFTs used in CIS-2?

The use cases of NFTs are not limited to only art or 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

Next, you'll learn about Semi-Fungible Tokens.

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