A little something for anyone still struggling to understand NFTs.
, which ultimately benefits the users. It means that unique assets can be transferred between different applications with relative ease.
NFTs can be traded in open marketplaces, including Binance’s NFT platforms, BNB Chain-based BakerySwap, and OpenSea on Ethereum. Naturally, NFTs are prone to price changes in response to market supply and demand as well as cultural trends that some of the NFTs are tied to. While virtual worlds are already flourishing, another exciting use of NFTs is the tokenization of real-world assets. These NFTs can represent fractions of real-world property that can be stored and traded as tokens on a blockchain. This could introduce some well-neededto many markets that otherwise wouldn’t have much, such as fine art, real estate, rare collectible items, and many more.
One of the first NFT projects to gain significant traction was CryptoKitties, a game built on Ethereum that allows players to collect, breed, and exchange virtual cats.
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