NFT Getting Started Guide, Newcomer’s Quick Advance Collection (Part 1)

In the past 2020 market, except for DeFi, which has been popular for more than half a year, NFT is the most eye-catching. This time, we will explain to you in detail what NFT is and what is NFT in CROSS in the form of two articles.

DeFi is the most important thing happening in the NFT industry in 2020, as well as 2021.

The premise of DeFi is very clear, although each project has its own crazy complex mystery: decentralized, non-custodial, open source financial products for all Internet use, run on the code, theoretically free from human intervention. DeFi was a very broad term from the beginning, referring to any new type of financial project supported by encryption technology.

Defi is a decentralized finance. Link and YIF, which are particularly popular in the currency circle during this period, are all Defi concept tokens. The rise of these tokens is very sensational in the circle. Most Defi concept tokens have a very strong trend. Whoever can make a more powerful Defi ecology and products will have the opportunity to be sought after like Link and YIF.

In terms of Defi concept, CVT certainly cannot be left behind. They are now making a brand new, more powerful and broader Defi ecosystem.

With the emergence of BTC, we have cryptocurrencies to represent assets with currency attributes. Naturally, we also need a value medium for representing non-monetary assets, so NFT came into being. (Non-monetary assets, such as artworks, games, etc.) NFT is the abbreviation of Non-Fungible Tokens, which means non-fungible tokens. It is relative to fungible tokens. Non-fungible tokens are also called non-fungible tokens.

On the blockchain, digital cryptocurrencies are divided into two categories: [native currency] and [token]. The former, such as Bitcoin and ETH, have their own main chain and use transactions on the chain to maintain ledger data;The latter, such as BOT, INK, etc., are attached to the existing blockchain and use smart contracts to record the ledger. The tokens can be divided into two types: homogenization [FT] and non-homogenization [NFT].

Tokens such as BTC and ETH are all homogeneous tokens, which are mutually replaceable and close to infinitely split tokens. In other words, the CVT we have are the same attributes and price, nothing is difference. The non-fungible token NFT (Non-Fungible Token) is the only and indivisible token. In other words, one of your NFTs and one of mines do not have the same attributes and prices, and there is a difference.

NFT is a private property based on the blockchain. It is completely controlled by users and can be freely transferred and traded. It can be used to clarify the ownership of digital asset pairs! This is an important advancement for the growing digital industry. Since the NFT token and its smart contract allow detailed attributes to be added, such as owner identity, massive metadata, and secure file links, it can be applied to almost any asset ownership or transaction.

At present, the main application areas of NFT are games, collectibles, virtual world encrypted artworks, cultural tokens, etc. It can be seen that the current application scenarios of NFT are still to be developed, after all, they are still in small-scale use. CVT must be more extensive and practical than the above application areas.

At the same time, the main gameplay of NFT is also concentrated in Defi+NFT, mortgage, NFT generation token, interest-bearing Token generation NFT, mining, etc. The most popular in the circle is DeFi+NFT. CVT has to do more extensively. It is the super large ecology of Defi+NFT+Cefi+AI. It seems that CVT will launch diversified “combined products”.

There are four main ways to obtain NFT, direct purchase of NFT, investment in NFT projects, investment in NFT-related tokens, and investment in NFT collections. For retail investors, the participation method of investing in NFT projects and investing in NFT-related tokens is very simple. There is no difference between investing in NFT and buying tokens. In other words, it is enough to directly invest in CVT because it is a project with NFT.

The well-known MEME and Filecoin in the circle have NFT. However, the NFT market is still small and not enough attention. However, as the value of NFT is gradually discovered by people, it may show explosive growth in the next few years. In terms of NFT investment, it is necessary to have an in-depth understanding of the specific NFT market segment in order to make a good investment. One is to enter the market early, and the other is to participate in the market with NFT demand.

In addition to investing in the NFT itself, those projects that carry the NFT (like, CVT) can also be regarded as an important part of the NFT investment. The projects that carry the NFT have a better opportunity to capture the value of the entire ecological development than the NFT itself. (directly purchase CVT tokens).

2021 has just begun, and everything is still unknown. Defi and NFT are having a major impact on the entire blockchain and digital currency industry. Let us wait and see!

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