Fractionalized NFTs And Soilless Farming (1)

Non Fungible Tokens first popped up in 2017 in the name of Cryptopunk on the Ethereum Blockchain and eventually, the creation of the cryptokitties video game for trading virtual kittens. Since then, NFT has evolved and is now one of the major Blockchain and crypto trends for the year 2022 and beyond.

But what are Non Fungible Tokens?

To understand it better, let's first of all, get the meaning of the word “Fungible”.

Fungible is an English word that means Something or An Object that is able to be substituted for something of equal value or utility, with no single, restricted, limited or proprietary ownership. In the context of the subject we are dwelling on right now, it therefore means an asset that can be substituted as another assets or replica of equal value or utility. Example could be Bitcoin to Ethereum, to Usdt, Busd or other virtual assets with no restricted and proprietary ownership.

Then the Word Non Fungible Token (NFT) is simply the opposite of Fungible. Non Fungible means such an asset is limited, restricted and proprietary in nature, with no replica.

These includes digital artwork, real estate, event tickets, etc., And on the Blockchain, NFTs are created with unique smart contracts and IDs as a unique digital collectible of a physical asset.

NFTs are therefore digital representation of a real world assets on the Blockchain and can be confirmed as authentic with single ownership at a time.

In summary, NFTs are indivisible and indestructible with verifiable ownership, and can be traded, purchased or sold.

Bearing the subject of this article in mind, we will explore to the point of fractionalized NFT or F-NFTs in subsequent articles.

Please enjoy your reading and stay tune for the next article in this series and other upcoming updates on our progress and achieved milestones.