Non-fungible tokens are all the rage right now, people love them, some utterly despise them. Why is something that is made up of bits so polarizing? This is often the case with emerging trends in revolutionary technology. Some may not grasp the concept, some may think it is a fad. those in the know understand that this just simply is not the case. How can NFTs be used in my business? Read on to find out.
NFTs are unique digital assets that can represent anything from virtual goods to real-world assets. They are stored on a blockchain and are not interchangeable, meaning one NFT is always different from another. This makes them perfect for representing unique items or experiences, such as concert tickets, artworks, or hotel rooms.
There are already a number of platforms that allow businesses to create and sell Non-Fungible Tokens. Examples are: DappHub, CryptoKitties, and Ethereum Name Service. These platforms offer a variety of features that exemplify the breadth of what is possible by utilizing NFTs.
For example, DappHub allows businesses to create custom tokens within minutes using its simple web interface. These tokens can be sent, received and tracked on the Ethereum blockchain. DappHub also offers an open-source framework for Non-Fungible Tokens that allows businesses to set up their own token sales through its Decentralized Non-fungible Token Exchange.
CryptoKitties is a platform where you can buy, sell and breed unique digital cats. All transactions are recorded in smart contracts stored on the Ethereum blockchain ensuring transparency while increasing trust between buyers and sellers. CryptoKitties has partnered with HaxaLabs allowing them to offer high security standards such as hardware wallet integration, multi signature accounts, private key management tools & more…
The Ethereum Name Service (ENS) makes it easy for users of any size to securely and reliably manage their Ethereum addresses. ENS allows businesses to create unique domain names that can be used to represent Non-Fungible Tokens. For example, a business could create the address “foo.art” and use it to sell digital artworks on CryptoKitties or other platforms.
There are many other platforms that offer similar features, so businesses of all sizes should be able to find one that meets their needs. Non-fungible tokens are a revolutionary new way for businesses to interact with customers and they are here to stay. So what are you waiting for? Learn how to get started today!