Lark Davis, a Bitcoin maximalist and crypto giant fanatic in general, has recently revealed in his opinion that the upcoming event in the crypto market has the tendency to spawn a whooping upsurge of about 10,000% or 100x growth in some certain assets.
According to Davis, the crypto space is gradually growing extensively beyond the impassioned DeFi platform, and it is prepared to offer new and lucrative opportunities to all and sundry across the world.
In a bid to further buttress his point, Davis who is also a crypto investor, says non-fungible tokens (NTF) is one of the sectors’ innovations currently garnering the attention of investors, and could continue to progress as depositors seem to have so much interest in it.
In his words, non-fungible tokens are inimitable tokens, which signify proprietorship in a specific asset.
Davis made the assertion in a YouTube Video, revealing that since an NFT is a special token, and if this idea is imported into the blockchain platform, chances are that it will earn a certificate of digital authenticity verifiable on-chain.
The crypto researcher revealed that non-fungible tokens make available a wide range of selection of use cases for stakeholders which include in-game items; virtual lands, skins, collectible items viz virtual pets and decks and rights to digital art.
Apart from investing in the realms of virtual gaming and art, Davis has a dream that NTF (non-fungible tokens) can be extended for practical use in insurance, royalties and a host of many enterprise solutions companies which entail tokenizing invoices to extricate loans.
In addition, crypto influencer Davis stresses that investors who plan to join the blockchain market should persevere in as much as they can and as well procure non-fungible tokens; as this will serve as an opportunity for them to deliver useful improvements.
What You Should Know About Nonfungible Tokens
As the crypto space hassles over Bitcoin and other Altcoins, a new type of digital asset is gradually gaining ground in the market, viz; nonfungible token (NTF).
NTF is currently flaunted as the future of the gaming industry, the art industry, and even in some cases, the real estate business. This is because the world is fast advancing and drifting away from paper money, hence supporters are of the view that there are many use cases for NTFs, past collectibles.
Cryptokitties, a blockchain-driven ecosystem where players, at will amass and breed digital cats, is one early inventor of non-fungible tokens.
Nonfungible tokens offer unique features which make them stand out among other digital assets.
Most at times, other tokens, which happen to be fungible, are built using a standard called ERC-20, while nonfungible tokens are ERC-721 compliant.
It is important to note that while fungible tokens are detachable, nonfungible tokens cannot be divided. They are rather purchased and bought as a whole.