Non-fungible Token (NFT) and which projects support it

A non-fungible token (NFT) is a type of cryptographic token that represents a unique asset. NFTs are tokenized versions of digital or real-world assets. They function as verifiable proofs of authenticity and ownership within a blockchain network. NFTs are not interchangeable with each other and introduce scarcity to the digital world.

Fungibility refers to the property of an asset whose individual units are interchangeable and essentially indistinguishable from each other. For example, all fiat currencies are fungible. To act as a medium of exchange, each individual unit must be interchangeable with any other equivalent individual unit. A one-dollar bill is interchangeable with any other genuine one-dollar bill.

NFTs can be used by decentralized applications (DApps) to allow for the creation and ownership of unique digital items and collectibles. While NFTs can be traded in open marketplaces that connect buyers with sellers, it is worth noting that the value of each is unique. 

Various frameworks have been created to facilitate the issuance of NFTs. The most prominent of these is ERC-721, which is a standard for the issuance and trading of non-fungible assets on the Ethereum blockchain. A more recent, improved standard is ERC-1155, which enables a single contract to contain both fungible and non-fungible tokens. 

The standardization of NFTs allows a higher degree of interoperability, meaning that unique assets can be transferred between applications with relative ease. 

NFTs have the potential to be one of the key components of a new blockchain-powered digital economy. They could be used in many different fields, such as video games, digital identity, licensing, certificates, or fine art - and even allow fractional ownership of items. Storing ownership and identification data on the blockchain would increase data integrity and privacy, while easy, trustless transfers and management of these assets could reduce friction in trade and the global economy.

Now I want to share with you the best projects that supports NFT and have many other cool features.

Cocos-BCX full name "COCOS BlockChain Expedition"

Cocos-BCX is the platform for the next generation of digital game economy. It aim to create an integrated multi-platform runtime environment for games, providing developers with the convenience and completeness in game development, while bringing users a whole new gaming experience, unprecedented gaming status, and with all the assets obtained in the games being wholly owned by the users.

For more project details, please visit the official website of Cocos-BCX: www.cocosbcx.io

Cocos-BCX launched the theme of “COCOS≥NFT+DeFi+DApp new format”.Obviously, the game public chain Cocos-BCX does not only focus on the temporary popularity of DeFi sector, but also will lay out on the prosperous ecological DApp, DeFi that drives the market, and everyone is discussing whether it will relay DeFi’s NFT.

IOST

IOST is an ultra-fast, decentralised blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB).

Led by a team of proven founders and backed by world-class investors, our mission is to be the underlying architecture for online services that meets the security and scalability needs of a decentralised economy.

For more project details, please visit the official website: www.iost.io

Ontology (ONT)

Ontology describes itself as a provider of high-performance public blockchains, which includes distributed ledger and smart contract systems.

The Ontology blockchain framework reportedly supports public blockchain systems that can be customized for different applications. Ontology supports collaboration among chain networks with its various protocol groups.

Ontology aims to constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework and distributed data exchange protocol. Ontology intends to continue developing new common modules based on specific scenario requirements.

Ontology uses a dual token (ONT and ONG) model. ONT is a coin and can be used for staking in consensus, whereas ONG is a utility token used for on-chain services. ONT releases ONG periodically.

For more project details, please visit the official website: www.ont.io

GXChain (GXC)

GXChain is a fundamental blockchain for the global data economy, designed to build a trusted data internet of value. Benefiting from DPoS based Graphene underlying architecture, GXChain possesses functions including G-ID, GVM, BaaS, and Blockcity, which are convenient for application development. GXChain based DApp-Blockcity has reportedly more than two million verified users and provides data for other DApps and strategic partners. GXChain launched a decentralized data marketplace and serves hundreds of Chinese enterprises. GXChain team independently developed its main net and launched it in June 2017. Based on decentralization, cryptography, and smart token design, GXChain provides a solution for the data economy by developing multiple data modules. Data uploading, storage, computation, and exchange has been gradually realized with many commercialized applications. Currently, GXChain claims to have 2 million verified users in its DApp ecosystem.

For more project details, please visit the official website: www.gxb.io

Binance

Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.

Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved out of China due China's increasing regulation of cryptocurrency.

For more project details, please visit the official website: www.binance.com