NFT+ is actually short for Non-Fungible Token, meaning non-fungible tokens. The developer of this currency can be traced back three years. At that time, during the bull market of the cryptocurrency market, Dieter Scherli and his team were not 'tempted' by the soaring prices of Bitcoin and Ethereum; instead, they took a different path and developed a token called ERC-721+, which is now known as NFT.
This token can verify the scarcity of digital artworks and is a brand new Ethereum token standard. Alongside the emergence of the ERC-721 standard is the highly regarded 'CryptoKitties+'.
Since then, the digital art industry has begun to be truly activated, and the concept of 'non-fungibility' has started to be introduced into cryptocurrency, leading to a rapid minting of ERC-721 tokens by individuals.
We can see many use cases in real life, for example: digital artists beginning to explore NFT collections; game developers starting to integrate NFT-based digital goods; French gaming giant Ubisoft+ starting to develop complete games around NFTs; the NBA beginning to stamp ERC-721 'seals' on player cards; and many cryptocurrency trading platforms starting to support NFT token trading.
In addition, the 'non-fungible' characteristic of non-fungible token smart contracts can also be used to prove the identity of the recipient or owner, and tokens can be stored in digital wallets for easy access and representation. Therefore, non-fungible tokens can be used for various certifications, such as qualification certificates, software disciplines, guarantees, and even birth and death certificates.
Perhaps in the not-too-distant future, our degree certificates, professional certificates, licenses, and other asset proofs can all be stored in a digital wallet.
As a result, the boring cryptocurrency industry is filled with life thanks to Dieter Scherli and his team. The ERC-721 standard has become an economic symbol, with unique non-fungible tokens linked to specific assets, used to prove ownership of digital items and tangible assets.
Due to the non-fungible characteristics of the NFT and its smart contracts, detailed attributes such as owner identity, star metadata, and secure document links can be added, making it applicable to almost any asset ownership or transaction. NFTs use an 'immutable' way to prove digital ownership, which is a significant advancement for the ever-evolving digital industry.
It is important to note that the core elements of NFTs are the ability to prove ownership and authenticity, and they can be easily transferred among parties. Furthermore, decentralized exchanges provide a perfect trading channel and platform for the transfer of non-fungible tokens, while the introduction of liquidity mining also addresses the issue of poor market liquidity in the NFT space.
Starting this year, decentralized financial currency markets like Compound+ have begun to rise, and DeFi trading activities are surging. Yield farmers in decentralized financial markets are starting to inject liquidity to earn tokens in return.
They play video games through these tokens and hope to earn extra rewards by winning in the game. In blockchain games, in-game assets such as skins, weapons, or anything your character uses are generated as non-fungible tokens, marking in-game assets and converting them into NFTs, which can be seen as a significant breakthrough in the gaming industry.
Without a doubt, NFT tokens can provide the best proof of ownership in games. Moreover, NFTs can acquire elements that confer value to projects in the physical world and transfer them to the digital realm. Without NFTs, the appreciation of 'digital products' like game skins would be hard to reflect quickly. Currently, only NFTs can digitize the value from the physical world.
The market is booming, but problems also arise one after another.
NFT trading platforms face a series of technical challenges and governance issues. For investors, they need a platform that can access all different types of NFTs, including insurance, photography, domain names, 3D models, which will be a larger market than art.
The TRT Alliance Chain+ can do many things with NFTs, such as allowing TRT tokens to vote on various options on trading platforms, thus holding governance rights.
Regarding the governance of NFTs, the TRT Alliance Chain plans to develop an independent decentralized autonomous organization in the future, where holders of NFT tokens and TRT will have a way to delegate their voting rights to other parties, and all these operations will be controlled by this decentralized autonomous organization.
In the future, the NFT of the TRT Alliance Chain will also involve areas such as ticketing, copyrights and intellectual property, sales and trading of video games, while also increasing the potential for creating securities-type tokens, digital assets, and the tokenization of physical assets.
The top ten truths you must know to make money in the crypto circle!
Let’s uncover the top ten truths of the crypto circle. People often say: 'A day in the crypto world equals ten years in the human world. Working for ten years leads to nothing, while one year in the crypto circle can make you a millionaire!'
But is that really the case? Indeed, there are more opportunities for wealth in the crypto circle compared to traditional industries, but the hidden risks are equally immense! Many people blindly follow trends, either hearing rumors or seeing friends make money, and end up going all in.
However, the low entry barrier has led many to harbor fantasies of 'getting rich overnight', while neglecting the importance of risk and understanding. As a veteran player who has worked in the crypto circle for many years, I have summarized the 'Top Ten Truths of the Crypto World', hoping to help everyone recognize reality, take fewer detours, and participate rationally.
Truth 1: You might think a certain altcoin has the potential to increase by 100 times, but the reality is that 99.99% of altcoins will eventually go to zero. Insight: Conduct thorough research and choose projects that have value and ecological support; do not blindly chase prices.
Truth 2: When a project is heavily promoted as a 'money-making opportunity', it is likely that it has already reached the time for the market makers to offload their holdings. Insight: Learn to think in reverse; do not be swayed by market sentiment, take profits in a timely manner, and avoid becoming a bag holder.
Truth 3: When retail investors are generally panicking and feel the market is about to crash, it is often a signal that a bull market is about to begin. Insight: Market panic is a tactic for market makers to accumulate shares at low prices; learn to identify bottom opportunities.
Truth 4: When you become increasingly confident about the rise of a certain cryptocurrency and prepare to go all in, it is often the case that the market makers are cashing out and leaving. Insight: Stay rational, do not blindly over-invest, and learn to buy in batches and take profits.
Truth 5: You might think the win rate of contracts is 50%, but in reality, less than 10% can make money. Insight: Contract trading requires high levels of position management, psychological management, and execution; do not be greedy or blindly leverage.
Truth 6: Most people see market makers as enemies, but true experts learn to dance with market makers, following their lead. Insight: Being on the right team is more important than individual effort; following the trend will yield greater profits.
Truth 7: Many people think making money in the crypto circle is easy, but less than 10% can actually make money. Insight: The crypto circle follows the 80/20 rule, or even the 90/10 rule. Respect the market, act in unity with knowledge and action, and you will be able to stand firm.
Truth 8: Do not underestimate KOLs (Key Opinion Leaders); the expertise and market analysis they provide can help you take fewer detours. Insight: In the knowledge payment era, be clear whether you are receiving equivalent value; ability will always precede making money.
Truth 9: The rise in cryptocurrency prices, aside from ecological landing and value support, is more importantly influenced by market 'consensus' and 'greed'. Insight: The supply-demand relationship determines price; market belief and sentiment have a significant impact on cryptocurrency prices.
Truth 10: To get rich in the crypto circle, you need to possess the following points:
Luck - finding truly potential targets.
Understanding - being able to hold onto tokens without being scared off by market fluctuations.
Take profit - understand the importance of securing gains and know when to cash out.
Long-termism - stick to long-term investments and do not chase short-term profits.
Cash flow - continuously earn income and invest steadily in the market.
Insight: Making money in the crypto circle is not easy; besides seizing opportunities, you also need luck, patience, and the right execution.
Summarizing the above ten truths may be a bit hard to swallow, but these are valuable experiences I have gained over many years of struggling in the crypto circle! I hope to help everyone recognize the market and pay less 'tuition'.
If you are also a tech enthusiast and are delving into technical operations in the crypto circle, feel free to follow me for the latest crypto intelligence and trading skills.
