NFT’s is the hottest topic in the crypto world right now. You must came across at least one or two news where some digital arts sold in millions of dollars in auctions! so, why is there so much hype for a single digital art and why people are ready to pay such a huge amount for it ?
let’s get into the world of NFT’s !
Why NFT’s are so expensive ?
- Rarity — Limited supply and huge demand
2. Provenance — Reputation of creator , fame ,ownership
3. Quality — Condition of an item , Functionality over other available items, Aesthetics..etc.
- It can be migrate to other games — Suppose you are using a weapon in one of game and you like that and want to use the same in other games too, you can do it using Enjin.
- It can be also be traded — If you want to sell some weapons, customized things, you can do it using Enjin
- It’s an open game ecosystem built on ERC — 1155 Token(2018 Token)
- It has benefits of Fungible and Non-fungible tokens
- It implement crypto assets in games and it made this process so easy for game developers.
You can do it using your Mobile Wallet , it comes with ERC — 20, ERC- 721, ERC-1155 and it is best wallet to store NFT. Samsung Galaxy S-10 has built in wallet in their phones, so we can trade or store NFT from there as well.
NFT’s are on Ethereum ERC-721 / ERC-1155 token ; so it has very high gas fees.
It’s built on ERC-1155 token and main features are
1. Gasless 2. Faster transaction and 3. More secure
There are many NFT’s and platforms but Enjin has one of the real NFT utility which is solving real world problems in gaming industry.