Non-fungible Tokens and DeFi Sector | Coin Bureau
Welcome to this cryptocurrency video review posted by Coin Bureau. In this video you will learn about NFT's. Digital collectibles that cannot be replicated. NFT's cannot be duplicated, they are unique. Fungible tokens such as Bitcoin and Ethereum tokens are all the same. One Bitcoin is equal to another Bitcoin at any specific point in time, no matter who owns it. Non fungible tokens are antiques, they can be one of a kind and owned by just one individual. A NFT can be transferred p2p to another person and the new owner has proof of legitimacy.
Ethereum ERC-721 tokens are NFT's. Ethereum ERC-20 are FT's. ERC-1155 is able to do both NFT's and FT's.
One of the most popular projects working with NFT's is Decentraland.
Jump to a video segment:
5:59 What Are Non-Fungible Tokens?
13:37 Why Non-Fungible Tokens Could Be Really Disruptive
19:31 How Do Non-Fungible Tokens Synergise With DeFi?