NFTs

Understanding the Security Risks of NFTs on Blockchain Networks As the Non-Fungible Tokens (NFTs) market continues to expand, it is critical for both beginners and advanced traders/investors to understand the security risks that may be associated with trading and owning NFTs on blockchain networks. With high-profile sales exceeding millions of dollars, NFTs have become attractive …

NFT-Based Identity Verification Introduction A non-fungible token (NFT) represents a unique digital asset in the form of a certificate of authenticity. Even though NFTs found their place in the limelight through art, music, and the gaming market, they can also be used effectively for identity verification. Blockchain, the technology underpinning NFTs, plays a pivotal role …

Challenges of Storing NFT Data on Blockchain Understanding the Basics of NFT and Blockchain Non-Fungible Tokens (NFTs) are unique digital assets stored on a blockchain that typically come with respective metadata describing their characteristics. The uniqueness of these elements assures the scarcity of the asset, making them attractive for various activities from art to real …

Understanding ERC-1155 Token and ERC-721 Tokens in NFTs Non-fungible tokens (NFTs) have grown in popularity within the digital assets sphere, mainly powered by the Ethereum blockchain network. Two widely known token standards include the ERC-1155 and ERC-721, which play crucial roles in defining how these tokens work. What is an ERC-721 Token? ERC-721 is a …

Understanding Tokenization in the Context of NFTs and Blockchain Introduction to Tokenization and Blockchain In the realm of blockchain technology, tokenization is the process of converting rights to an asset into a digital token on a blockchain. In simpler terms, it’s akin to converting a physical asset or even intangible asset into a digital format …

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 …