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A diagram showing the right to own a non-fungible token and linked file. In most cases, it is heavily dependent on the token's smart contract. An NFT solely represents a proof of ownership of a blockchain record and does not necessarily imply that the owner possesses intellectual property rights to the digital asset the NFT purports to represent.
ERC-721. The ERC-721 Non-fungible Token Standard is a technical framework, defining a set of rules and interfaces for creating and managing unique, non-fungible tokens (NFTs) on the Ethereum blockchain. [ 1 ][ 2 ][ 3 ] ERC-721 is recognized for formalizing the concept of an NFT and establishing the foundation of the multi-billion dollar digital ...
Fungibility. In economics and law, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. [1][2] In legal terms, this affects how legal rights (such as ownership and the right to receive goods under a contract) apply to such items. Fungible things can be substituted for each other; for ...
A non-fungible token (NFT) exists on a blockchain and can grant someone verifiable and unique ownership rights of digital and physical goods. A non-fungible token (NFT) exists on a blockchain and ...
Impact of non-fungible tokens on traditional businesses. The impact of Non-Fungible Tokens (NFTs) on traditional businesses is quantifiable in several distinct operational, transactional, and economic variables within multiple industry sectors. NFTs, characterized by their indivisibility and uniqueness, are registered on a blockchain.
Tokenomics. Tokenomics is a term that refers to the study and analysis of the economic aspects of a cryptocurrency or blockchain project, with a particular focus on the design and distribution of its native digital tokens. [1][2] The term is a portmanteau of words token and economics. Key areas of interest include determining the value ...
Token coin. In numismatics, token coins or trade tokens are coin-like objects used instead of coins. The field of token coins is part of exonumia and token coins are token money. Their denomination is shown or implied by size, color or shape. They are often made of cheaper metals like copper, pewter, aluminium, brass and tin, or non-metals like ...
Blockchain game. Video games can include elements that use blockchain technologies, including cryptocurrencies and non-fungible tokens (NFTs), often as a form of monetization. These elements typically allow players to trade in-game items for cryptocurrency, or represent in-game items with NFTs. A subset of these games are also known as play-to ...