NFTs Traits (Part 2)

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7 Jun 2022
1

They're one-of-a-kind

In other words, due to the information incorporated in its smart contract, a non-fungible token (NFT) is one of a kind. This was discussed before.

This distinguishes an NFT from other financial transactions and comparable ones. The unique land plots available for purchase in the Decentraland game are a good example.

They are inseparable

NFTs cannot be broken apart. Unlike cryptocurrencies, we may buy fractions of Bitcoins based on their current worth, even if our bank accounts don't have enough to cover the full purchase price. The only method to buy a cryptocurrency would be in whole units if it were like an NFT.

They're difficult to come by and are regarded as "exclusive" items

Each one is unique, but obtaining one might be a real challenge. Why? In a blockchain network, each asset can only be defined once. Hence it is impossible to register it again. As a result, fraudulent conduct is curtailed.

References (Example)

[1] <name>, '<title>' (online, <year>) <link>.
[2] BULB, 'Write to Earn. Read to Earn' (online, 2022) <https://www.bulbapp.io/>

Write & Read to Earn with BULB

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