Best design practices & strategy to launch your own NFT project

Dhruv Singhwani*

The term ‘non-fungible’ is used in economics to denote the possession of unique objects and to describe things that cannot be replaced by others because they have a set of unique properties. A ‘token’ as a unit of account is a record in a distributed blockchain that is controlled by a computer algorithm of a smart contract, in which the values of the balances on the accounts of token holders are recorded, making it possible to transfer them from one wallet to another. Thus, non-fungible tokens (NFTs) refer to cryptographic tokens that represent digital files, images, audio, video, video game collectibles, and other creative products. Unlike cryptocurrency, which requires all tokens to be identical, each collected NFT token is unique or limited in quantity.

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Published on: Mar 5, 2022 Pages: 7-9

Full Text PDF Full Text HTML DOI: 10.17352/tcsit.000045
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