NFTs

Limitations of Blockchain Technology for NFTs Introduction Non-Fungible Tokens (NFTs) have carved a substantial niche within the crypto universe. Using blockchain technology, the unique characteristics of NFTs have revolutionized the way we buy, sell, and interact with digital assets, particularly in the gaming, art, and music industries. Despite these promising strides, however, blockchain technology’s application …

Understanding How Blockchain Networks Handle NFT Metadata The interaction between blockchain networks and Non-Fungible Tokens (NFTs) plays a pivotal role in the digital asset and cryptocurrency landscape. Central to this interaction is how these networks handle NFT metadata. This piece aims to provide an articulate and in-depth understanding of this process. What is NFT Metadata? …

Integration of NFTs with Decentralized Finance (DeFi) on Blockchain Understanding NFTs and DeFi Non-fungible tokens (NFTs) and Decentralized Finance (DeFi) are two potent concepts in the blockchain and cryptocurrency landscape. NFTs are unique, tokenized representations of assets on a blockchain, ranging from digital art and music to virtual real estate and even tweets. They cannot …

Verification Process of NFT Authenticity on Blockchain As the popularity of Non-Fungible Tokens (NFTs) continues to soar, so does the importance of understanding how their authenticity is verified on the blockchain. Simply put, blockchain technology plays an instrumental role in establishing the origin, ownership, and authenticity of NFTs, thereby enabling a higher level of trust …

Understanding ERC-721 Tokens and Their Relevance to NFTs What is an ERC-721 Token? ERC-721 is a free, open standard that represents a non-fungible token (NFT) on the Ethereum blockchain. The acronym ERC stands for Ethereum Request for Comments, while 721 is the unique proposal identifier assigned to this particular standard. The ERC-721 token standard provides …

Transferring NFTs between Owners using Blockchain Understanding NFTs NFTs, or non-fungible tokens, represent a unique digital asset recorded on the blockchain. Unlike cryptocurrencies such as Bitcoin or Ethereum, they can’t be exchanged on a like-for-like basis (fungible), making each NFT unique. NFTs can represent digital files such as art, music, games, real estate, and other …