Crypto NFT -

Non Fungible TokenOctober 28, 2020

A non-fungible token (NFT) is a special type of cryptographic token which represents something unique;

non-fungible tokens are thus not mutually interchangeable.

This is in contrast to cryptocurrencies like bitcoin, and many network or utility tokens that are fungible in nature.

So we could fully understand technology behind this, lets first learn what is Token.

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Where ever you look around you will see real life use case tokens around us ,we just have a specific name and use case for every token.

Your contract in written form or employee ID is token in some form between you and your company.
Your driving license is a token, representing the fact that you have taken the training required to drive in your country.
Your Metro ticket is a token that proves that you have paid for transport.

Similarly, in the CryptoSpace, a token is a representation of “” in its particular ecosystem. It could be value, stake, voting right, or anything.

A token is not limited to one specific role;

**it can fulfill many roles in its native ecosystem.**

Voting Rights: The tokens may also qualify the holders to have certain voting rights.

Value Exchange: This is one of the more traditional roles of tokens within the ecosystem. Tokens can help create an internal economic system within the application. (In crypto space it can be Native Exchanges tokens like Binance token, or Bitrue Token, Uniswap Token etc.)

User Experience Enhancement: The token can also enable the holders to enrich the user experience inside the confines of the particular environment. (In Brave web browser, holders of BAT tokens will get the right to enrich the customer experience by using their tokens to add advertisements or other attention-based services on the Brave platform.)

Currency: It can be used as a store of value to conduct transactions both inside and outside the given ecosystem.

Toll: A token can act as a gateway to the Dapp. Basically, to access the Dapp, you will need to hold the tokens.

Ownership of something unique: A non-fungible token can represent something unique for that particular user. ( Digital Art Work, Paintings, GIF`s, MP4(mix of audio and video)

{Best example I can give you for real world use case is Copyright's, or Unique Painting from Artist Leonardo da Vinci like Mona Lisa !

We all have seen good copy`s and art works, but there is only one original that has ultimate value}