What are the best use cases for blockchain-based non-fungible tokens (NFT)?

Unavailable tokens are a buzzword right now, but most don’t really get the difference between unreliable and unsatisfactory tokens. Today, we will try to capture this difference and evaluate the best NFT crypto projects.

Handy tokens have 3 key features:

1. They can be easily replaced by something identical

2. They are easily replaced.

3. They are subdivided and can be changed into smaller denominations.

For example, 1 dollar equals 1 dollar, and it equals all other dollars. You can change your dollar for another with no difference in value. Also, 1 dollar can be converted into smaller denominations and still has the same general value: you can exchange your 1 dollar for 100 cents or 2 fifty cents.

On the other hand, unavailable tokens are:

1. Completely unique

2. Can not be shared

3. Irreplaceable

This means you cannot change something that is not fungible for both because it is unique and rare. You can not divide it into smaller parts, as well as change it by the same amount.

Unused assets can be both physical and digital. An example of a physical non-fungible assets could be a plane ticket. It is unique with your name and seat number written on it. Cannot be shared, because you can not sell one part of it, as well as change for another. Exchanging yours with one or the other can have serious consequences.

Examples of non-fungible assets may be:

• Digital works of art

• Collectibles (e.g. CryptoKitties)

• Play items

• Virtual assets

• Digitalized real-world assets or identities

Simply put, unavailable tokens are digital representations of either digital or real objects. However, they can be equivalent to real money - just like when auctioning off a unique ticket once you belong to a superstar.

Here’s what’s trending on NFT right now:

Coin Artist (COIN) - The founder of COIN Marguerite deCourcelle introduced himself as an ongoing social experiment called Coin E-Den. COIN is a token of cooperation about him and the Coin Artist ecosystem.

Bihira (RARI) - Rarely is an NFT marketplace providing an opportunity to create and sell digital collections secured on the blockchain. RARI is the native platform management token, designed to influence decisions and strengthen active participation.

Little Love Potion (SLP) - SLP can be obtained by playing Axie Infinity. Axie Infinity is a DApp game, where users can collect, upgrade, breed and virtual battle creatures called axies.

Aavegotchi (GHST) - Aavegotchis are crypto-collectibles that live on the Ethereum blockchain. GHST is a utility token of the Aavegotchi ecosystem and can be used to purchase portals, wearable, and flammable.

NFT Protocol (NFT) - The NFT Protocol is designed as a decentralized protocol to deliver a decentralized platform with tools to enable efficient markets for non-fungible tokens and their associated digital goods.

Meme (MEME) - Starting as a mere “flash mob” token within 30 minutes of a tweet, MEME (also known as Degenerator) evolved into a decentralized NFT farming protocol.

Revv (REVV) - The REVV token is the ERC-20 utility token, which will be currency in F1 Delta Time and other motorsport game titles.

Sand (SAND) - SAND is the utility token used in The Sandbox ecosystem as the basis of transactions and interactions.

Whale - Whale is a Social Currency valued by the most important NFT collection in the world, driven by the NFTland community and maximizing steady growth through DeFi Mining and Hold-to-Play (H2P) initiatives ).

Wax (WAX) - Worldwide Asset eXchange (WAX) is a way to create, buy, sell, and trade virtual items. WAX creates blockchain-based tools that instantly and securely allow anyone to trade digital or even physical items.

NFT projects could easily become the next trend in the crypto world, changing the hype of 2020 DeFi. We will definitely see more non-blockchain brands diving into the world of NFTs - especially in gaming (hello ENJ) and art spheres.