What is the application of NFT?

NFT can be used by decentralized applications (DApps) to release unique digital items and encrypted collectables. These tokens can be a collectable item, an investment product, etc.

The gaming economy is not new as now, many online games have their own ones. Using blockchain to token-ize assets in games is just one more step. In fact, using the NFT helps us have abilities to either solve or mitigate the inflation problems that are popularly happening now and many games have to face with.

While the virtual world is strongly flourishing, another way of using NFT is to token-ize assets in real life. These NFTs can represent small parts of real assets which can be stored and traded as tokens on the blockchain. This helps increase liquidity for many poor markets such as art, real estate, etc.

Digital identity is also a field that can get benefits from NFT’s properties. Storing identity and ownership data on the blockchain will increase privacy and data integrity for many people all over the world. Moreover, transferring these assets easily and trustlessly also helps the global economy become much smoother.

#EF1 #EF1Finance #coin #crosschain #pos #defi #staking #swap #yeildfarming #dapp

EF1Finance

facebook

Instagram

Twitter

Youtube

Telegram

Naver Blog

Naver Band

--

--

--

EF1 is a Defi Platform that allows users to save, loan, borrow and pay Crypto Assets in a global network.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

The Decentralised Future Prize

Prism Whitelist and Presale Details

Primalbase March Report

DIGIRRENCY

MAKE A CHOICE WITH CHOICE COIN TODAY  HI, I’m here to introduce a wonderful project with lots of…

📣Mission and vision of Kalima Blockchain

TokenCard Tech Roundup and ERC20 Crediting

IIC Weekly update-week of 2018–06–07

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
EF1Finance

EF1Finance

EF1 is a Defi Platform that allows users to save, loan, borrow and pay Crypto Assets in a global network.

More from Medium

What is an NFT?

What about the Raffles?

blufolio portfolio company showcase, online event (live on our YouTube channel and Twitter)…

WHAT IS WEIRDPEOPLES ?