NFTs or Non-Fungible tokens are a set of unique, indivisible, and nonchangeable cryptographic assets on blockchain. NFTs have distinct cryptographic signature as proof of their originality.

NFTs are either ECR721 tokens that are unique and do not have interchangeable value. NFTs based on ECR1155 tokens, on the other hand, enables batch transfer of multiple tokens simultaneously.

NFTs possess certain standardization which focus primarily on ownership, simple access control, and transfer. NFTs can be traded in marketplaces where bundling, auctioning, and bidding can be done easily. NFT royality can be earned by original owner made on secondary sales. Fractional ownership feature offers promising opportunities for NFT minters and collectors by owning specific part of an NFT.

SoulBound NFTs are, unlike NFTs, non-transferable, public-veriable digital tokens which represents social status of the owner in web3 landscape.

#NFT #NFTbasics

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NFTs or Non-Fungible tokens are a set of unique, indivisible, and nonchangeable cryptographic assets on blockchain. NFTs have distinct cryptographic signature as proof of their originality.

NFTs are either ECR721 tokens that are unique and do not have interchangeable value. NFTs based on ECR1155 tokens, on the other hand, enables batch transfer of multiple tokens simultaneously.

NFTs possess certain standardization which focus primarily on ownership, simple access control, and transfer. NFTs can be traded in marketplaces where bundling, auctioning, and bidding can be done easily. NFT royality can be earned by original owner made on secondary sales. Fractional ownership feature offers promising opportunities for NFT minters and collectors by owning specific part of an NFT.

SoulBound NFTs are, unlike NFTs, non-transferable, public-veriable digital tokens which represents social status of the owner in web3 landscape.

#NFT #NFTbasics

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