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Prolitus - NFT Development Service
Let us help you develop Non-Fungible Tokens that will aid you in representing your creative side to the virtual world. After all, the NFT collectables are here to stay, and thanks to its rejuvenation they won’t settle back any asset to an antique state.
It seems like Non-Fungible Tokens – or more commonly referred to as NFTs – are in the vogue these days. After all, in recent times, it has emerged as a practice of high growth courtesy of a multimillion- dollar revenue structure.
For those unaware, in the early innings of 2021, the market cap for Non-Fungible Tokens increased by no less than 1,785%. But what makes NFTs – or NFT token development in particular – all the more interesting is the fact that an efficient and reliable buying system for NFTs is very essential for NFT development services.
To make the whole concept of NFT token development a little bit easier for you, let’s take a brief look at what essentially is an NFT. A certain unit of data stored on a digital ledger – which is Blockchain – in order to certify a digital asset to not be interchangeable and unique is described as a Non-Fungible Token. The very first NFT was introduced all the way back in 2012. And, as it turns out, it’s easily one of the most valuable assets in the market currently, gaining a good bunch of market share every year.
An NFT is commonly built using two Ethereum token standards – which would be ERC-721 and ERC-1155. All in all, Ethereum enhances the overall Non-Fungible Token development procedure by offering certain blueprints to the developers so as to help them deploy the tokens, which would then enable them to ensure services like active wallet creations and exchanges. At Prolitus, we’re committed to offering the most sophisticated and reliable NFT development services in the industry.
The premier standard for the representation of non-fungible digital assets, ERC721 is deemed as an inheritable Solidity smart contract standard. It does not just help in the access of a mapping of unique identifier addresses, representing the actual owner of the identifier. It further offers a permissive way to securely transfer the valuables.
Bringing an innovative idea of semi-fungibility to the NFT space, the ERC1155 helps in the long run as it not only represents just one but also several classes of assets. Moreover, thanks to its easy-going transferable nature, the users need not have to select the token address each time in order to purchase multiple assets of the same kind. To give you a better idea, take, for instance, virtual assets in video games, wherein normally a user would need to select the token quantity with every addition in the cart. However, with the correct implementation of the ERC1155 token, the user just has to enter the quantity of the asset and representation identity, which helps in reducing transaction time and the fuss of managing multiple contracts.
Fully compatible with the ERC-721 Token, the TRC 721 is a protocol on the TRON network used for issuing Non-Fungible Tokens. The talking point about TRC 721 Token is its ability to digitize a user’s collectable into NFTs, increasing its unique asset value.
The tokens represent any kind of assets in the real world, be it digital or tangible ones. Moreover, the TRON network’s public chain infrastructure provides a fuss-free deployment of these tokens to a user’s unique collectables. The correct deployment of TRC 721 NFT will, in the coming times, experience a huge adoption rate thanks to its cost-effective and easy deployment features.
- NFTs (or Non-Fungible Tokens) can prove to be useful in the case of unique digital assets
- NFTs can be used to represent and offer digital acceptance for both tangible and intangible assets
- Since NFTs are unique, each NFT posses a unique specification, which means they cannot be inter-exchanged
- Thanks to their unique nature, NFTs cannot be bought in exchange markets. Therefore, NFTs can be either purchased, created, or traded in their specific marketplaces
- With proper non-fungible token tools and support, NFTs can be made on contract-enabled blockchains
- ERC-721, Ethereum’s standard protocol, is crucial and common for Non-Fungible Tokens
- NFTs, combined with their smart contracts, can prove to be very useful to find detailed information like the owner’s identity, or more
- NFTs are able to offer proof of purchase and digital ownership of an asset in the real world, just like conventional shares and other assets
- Non-interchangeable: An NFT from one marketplace just cannot be used in another. They have a non-interchangeable and non-interoperable nature.
- Indivisible: Courtesy of their unique protocol specifications, Non-Fungible Tokens cannot be separated into lesser denominations
- Recoverable: Since the data of a typical NFT is stored in a blockchain via smart contract, this makes them easily recoverable and even indestructible to some extent. After all, each transaction linked to NFTs can be traced back and forth
- Verifiable: Having the ability to store ownership data directly on the blockchain gives NFTs the ability to be verified directly by the creators without any surplus authentication process
Non-Fungible Tokens have the characteristic to favour artists and creators who put up their signatures on their tokenized products in the marketplace. For those unaware, art and games tend to be popular categories in NFT marketplaces thanks to their extensive features and unique product features. Moreover, music, videos, and art altogether are some digital assets that have a huge market interest in the NFT marketplaces.
In addition, game assets are a very popular and main feature of NFTs. This is because video games often feature ground-breaking features and realistic and special characters for the most immersive gaming experience. This makes NFTs an extremely profitable space for the future of game and art developers.