NFTs is an acronym for Non-Fungible Tokens.
Non-Fungible in the sense that they are unique and cannot be interchanged like fungible assets such as Bitcoin. Let’s take for example if you exchange a Bitcoin to get another, nothing changes, you still get the same Bitcoin back — it’s the opposite in the case of NFTs.
Each NFT has a distinct signature used to designate and verify ownership of assets — there is no two original copy.
NFTs are digital assets that are usually representations of real-world objects such as in-game items, videos, music, collectibles, virtual assets, and arts.
Same as physical art, four factors contribute towards the value of an NFT art — how expensive it becomes.
The first is the “market-driven value”, which depends on the speculated resale value and popularity of the artist. The second is the “subjective value”. It involves the moral statement or political message that is conveyed by the art — how it makes you feel.
Another value determinant of NFT arts is the “objective value”. This involves the experience and technical skill by which it was created. Lastly is the “historical value” the piece of digital art has.
NFTs and Elrond
Elrond, a next gen blockchain that is fast, secure, reliable with insignificant transaction costs.
True ownership – Elrond smart contracts allow tokens and NFTs to be directly attached to an account instead of recording it on a smart contract;
• Lightning-fast transactions and optimal scalability;
• Maximum safety;
• Adaptable Smart Contracts;
• Very low fees – transaction fees on Elrond are under $0.02
The Maiar App - Maiar is a digital wallet and global payments app that allows you to exchange and securely store money on your mobile phone. You can use Maiar to send and receive money near-instantly, to and from anyone around the world by just using a phone number or herotag. Maiar also let you access all your NFTs and send them to other members.
How about rarity and ranking ?
Most common option is the Maiar Wallet app which offers an intuitive user interface and clean experience and the ability to purchase EGLD right in the app. This app can also store other crypto currencies;
This is available on iOS and Android and will allow you to connect on the go or at your PC by scanning a QR code.
Connecting the Maiar Wallet to Dapps is simple.
Chosen platform TBA