Applications of Non-Fungible Tokens

Non-fungible tokens are a specific kind of digital assets, where each token is personalized. In other words, each NFT (Non-Fungible Tokens) has a unique attribute that makes it distinct from all other NFTs.

These attributes show that non-fungible tokens can be used to represent possession rights for everything from digital tokens to real-world property. And, as more and more businesses become interested in adopting blockchain-based non-fungible tokens. 

Non-fungible tokens are transforming the world of online games and the virtual reality universe. In general, when playing online games, characters will get tradable items such as weapons, dresses, pets, etc. Developing an NFT for each stuff allows these props to be traded with points in the game or even real-world cash, and in the end, creates an online digital economy for the virtual world.

These NFTs are stored in the blockchain, so their property, ownership, and all transaction records are transparent and cannot be damaged or changed. 

Angelium launched its non-fungible tokens on the EOS blockchain of various types. These NFTs are available in many forms such as stickers and avatars that users can buy or sell. Moreover, they can use them in the Angelium virtual reality world to represent themselves.

Similarly, weapons, guns, swords, bombs, and other game cards are also available as NFTs which users can use easily in different games either in virtual reality or non-virtual reality games.

Angelium’s NFTs are unique and multipurpose. Users can use them in different platforms i.e. in market places, 2d games, 3d games as well as in the Angelium VR world. Angelium makes it possible for its users to use NFTs to represent themselves in the virtual reality world like enjoying parties, meeting friends, and playing games.

NFTs for animations and patches of lands of specific 3d worlds are also available so that’s how users can own properties in the virtual reality world and can build anything they want, for example, homes, shops, malls, etc and they can buy or sell them to others. 

All the traditional digital assets such as tickets, weapons, and lands have no unified representation in the digital world. By showing non-fungible tokens on the public blockchain, users can develop common, reusable, inheritable standards relevant to all non-fungible tokens. These non-fungible tokens provide basic primitives as possession, exchange, and simple access control. These are the correspondents/analogs to other building blocks of the digital universe, like PNG and JPEG file format for images, HTTP for requests between computers, and HTML/CSS for viewing volume on the web. Blockchain adds a layer on the top that offers users a brand new set of vibrant primitives on which to build applications.

Standards make NFTs more powerful and unique. They offer the guarantee to the users that their assets behave in a specific way and describe precisely how to interact with the basic functionality of the assets. Standards of non-fungible tokens make it easier for users to move easily across multiple environments.

When a developer launches a new NFT project, these NFTs are instantly perceivable inside dozens of different wallet providers, tradable on marketplaces, and most recently, displayable inside of the virtual reality world. Non-fungible tokens are tradeable and their tradability offers higher liquidity.

NFT expands the market for unique digital assets. It is possible because the open standard of NFTs offers a clear, consistent, secure, and permission API for reading and writing data. The other feature of non-fungible tokens is that they are fully programmable.

The introduction of NFTs brings very interesting solutions about the value and asset liquidity. The overall NFT market could be highly motivated by this new generation of assets. Non-fungible tokens are in early stages today, but due to their unique features, they stand to create an incredible wave of gamified digital assets and permissionless token economies soon.

Try out Angelium’s NFTs tokens to explore the prospects. 

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