Introduction PT. 1

Miocco

What is an NFT?

A Non-Fungible Token is an asset, which can’t be replaced with another asset. Sounds complicated, but the thing itself is a lot simpler, than it seems at first.

For example, your pet. Is it a cat or a dog - no animal can replace your pet, they don’t mean as much, as the original to you.

It is same with the value NFTs. Every project has a history or an idea, that can’t be faked by anyone other than the creator.

The basics are clear now, but what exactly is a token?

A token could be anything, that was digitalized and plased into blockchain for maintenance. Your name, a record of your voice, a random photograph - everything, just make it digital and store it in blockchain.

But why would I use blockchain, instead of regular servers as storage?

Unlike big serves, blockchain is decentralized. Each operation is carried by different computer. That means information, used in operations can’t be faked or destroyed. Another advantage is that no transactions are off-shore. The market is visible to every user - no matter are you a token holder or not.

Does that mean NFTs are just images, transferring from one PC to another?

No, they aren’t. Unfortunately, blockchain technology has one significant flaw - the volume of information, that could be stored in it is quite small.

However, NFT creators have found their way around - the data about tokens is still kept in stationary data bases, but the owner rights are held in decentralized systems.

The article leaves lots of questions, such as: “Why can’t i just copy the token from the data base?” or “Owners rights can be easily stolen, if they move from one user’s machine to another - where is the safert, you were talking about?”

More info about the technology is available in the second part of the introduction.

But what does Hodlers.pro give you in this market? We provide you with an agregator, that has: community based ratings, easy navigation, convenient project sorting, a Twitter, full of useful information and a Discord server with even more useful features. Worth paying attention, I suppose 🙂

DSSPCI

Miocco Really interesting and useful material. I’ve read a lot on this topic, but it is described here very clearly.

Tristoro

Miocco Cool, but I don’t understand why do people buy those 10.000 collections - what is unique about them?

NFT_Zigmund

Thaaanks for the helpful article. Please review the DAO technology.

Torbo

NFT_Zigmund Thaaanks for the helpful article. Please review the DAO technology.

Hello. Please note that we already have an article about DAO on our blog 🦸

mrciirm

Tristoro If we look at the collections as our future heritage - these 10.000 tokens are going to become antique. When the metaverse takes over regular games or even the real world the OG collections, even the bad ones will still have value as the start of hype. Imagine an old Porsche car in good condition, even if it was a bad one at the time - it still costs a fortune, because of how vintage it is. The same thing will happen with thousands of tokens in the future.

Tristoro

mrciirm But there aren’t as many active NFT buyers and sellers. Some article said there were like 200.000 or some - where will the demand come from?

mrciirm

Tristoro That’s true, still a big income of people is expected in the next 10 years. NFT is still developing and has high perspectives, so don’t miss out.