Non-Fungible Tokens Coverage Series #1

At Auctionity, we are very interested in ERC-721, and Non-Fungible Tokens (NFT) as we believe they offer fantastic development potential and endless possible applications. And we are not the only ones to believe that. Non-Fungible Tokens are making their way up our news feeds and everyday we see more and more news emphasizing the fact that they are more than a fad. Here’s a selection of interesting ERC-721 news stories from the past weeks:

Non-Fungible Tokens, Explained — by Connor Blenkinsop

This article is a good start for those of you who are not yet familiar with all the aspect of non-fungible tokens. It explains all the basics of what you need to know if you are interested in NFTs. And the CoinTelegraph is one of the most qualitative and famous publication covering everything about the evolving world of digital currencies and in the fiels of blockchain.

One physical example of a non-fungible asset could be a plane ticket. Sure, they look the same as other tickets, but each one has different passenger names, destinations, departure times and seat numbers. Exchanging yours with someone could have serious consequences — not only could you end up thousands of miles away from where you wanted to be, airport security might not be too impressed either.

Why blockchain is great for video games — by Daniele Sileri

Tokens in video games are nothing new, but the rise of blockchain and non-fungible tokens could actually change the way games are built and how the ownership of in-game assets is handled.

These hybrid games will bridge the gap between crypto-collectibles and mainstream games.

Etherscan token tracker for CryptoKitties

Etherscan now allows you to see your CryptoKitties in you inventory in a graphic form, so that your kitties can be more than a non-fungible token and a series of numbers.

What next? Oh yes, turning a luxury car into a non-fungible token — by Mike Butcher

Blockchain startup Proxeus is enabling the registration of classic cars on the blockchain, making transactions and paperwork unforgeable and verifiable by anyone. Cars can even be tokenized as non-fungible tokens.

The tokenization craze is clearly not going to end here.

We Put Sports Cards on the Blockchain. Here’s What We Learned — by Gianni Settino

CryptoStrikers is a blockchain-based collectible game allowing users to collect card portraying famous football players. When you use the card in a game, they become more unique. The creators relate their experience in this article:

Nobody knows what the digital collectibles space is going to look like in 6 months (let alone 4 years!), and I’d be extremely wary of anybody who claims that they do.

ERC-998, The New Token On The Block — by Curtis Chiu

You know what NFTs are but do you know about CNFTs? The creators of Bitizens believes that Composable Non-Fungible Tokens could be the evolution of NFTs. Also known as ERC-998, these tokens allow the addition of characteristics to non-fungible tokens.

Despite the widespread use ERC-20 and ERC-721 in the blockchain gaming space, Composable Non-Fungible Tokens (CNFTs) are expected to be the next standard in blockchain gaming.

What is Tokenization? Democratizing Ownership & Real-World Assets on the Blockchain — by Oliver Dale

Blockonomi is a publication covering all aspects of Cryptocurrencies, Fintech and the Blockchain economy. This article is a brief survey of the tokenization landscape and the three main asset classes that are likely to benefit from increased blockchain adoption.

Tokenization promises to change how broad asset classes are bought and sold, democratizing the process of owning everything from ideas to paintings. Blockchains offer a streamlined alternative to traditional paper markets and a unique way of sharing ownership of unique objects like painting or real estate.

Why Non-Fungible Tokens matter?

This article published by CryptoCarz explains NFT traction. Looking at CryptoKitties is like you can’t see the forest for the trees. Digital Cats were the beginning of a huge revolution beyond blockchain.

Digital scarcity will be revolutionary.