NFT has attracted much attention from blockchain practitioners and fans since its arrival. Due to the emergence of MEME’s Defi+NFT concept, NFT has once again gained attention. It has become popular in overseas markets and has gradually gained a wider community attention. In China, it is believed to be the opportunity for investment and many more functions. NFT is likely to bring about a revolution to the blockchain industry.
1. What is NFT?
To understand the potentials of NFT, we must first understand what it is. NFT, also known as Non-Fungible Token, which refers to digital assets with unique and irreplaceable attributes.
What does “Non-Fungible” mean? Other digital currencies such as BTC and ETH, have the same attributes and are interchangeable, and non-fungible tokens are different from each other, cannot be substituted for each other, and have different values. Therefore, NFT stands for “unique”.
2. Where can NFT be used?
The question is, how “unique” it is? Why is NFT being blown into the next frontier by so many people?
In fact, many scenes or products cannot be generalized in this world, but they can be unique. For example, every piece of art is unique in their own way. The most basic requirement of art collection is fidelity, just like NFT is unable to be the features of forgery and inability to tamper, give it an extra layer of unique identity codes so that the collectors are protected to the greatest extent.
Similarly, NFT has applications in games, artworks, domain names, collectibles, and identities. A typical case in the game field is Axie Infinity. Each fantasy creature Axie has different attributes and consists of six body parts. Different compositions will affect attributes and combat status. Rare Axie can bid a high price in the market because of the unique value of NFT.
3. Defi makes NFT more possible
The recent hot concept of Defi is actually a general direction of NFT. The violent collision of Defi+NFT will definitely be a huge technological innovation. Defi is derived from decentralized finance, which is specifically applied to forms of payment, lending, stable coins, and decentralized exchanges. It strives to reduce the limitations of traditional financial institutions and directly generate transactions between individual users. Using blockchain technology, Defi can improve data transparency and enhance user privacy protection; it is automatically executed through smart contracts without human intervention; in addition, the threshold and cost of financial services will also be greatly reduced. The uniqueness of NFT tend to have special value, but it also leads to a slight inferior liquidity. Combining with Defi means placing mobile mining strategies in the NFT field to expand the possibilities of NFT. Because of this, with the rapid and massive development of NFT, the development of blockchain and tokens will penetrate every corner of our lives.
Changes in transaction volume and transaction volume of each project over time
4. Opportunities for NFT in the field of environmental protection
Therefore, as a leading international green digital financial initiative, Treelion adopts the logic of Defi+NFT and uses blockchain technology to combine with global ecological big data as the underlying structure to create a “decentralized” green world for exclusive users and to make green products alive. The cycle is transparent and visible, with enhanced credibility. In addition, using the uniqueness of NFT, we provide “tailor-made” and standardized green financial solutions for individuals and enterprises involved in the environmental protection undertakings. Treelion also offers blockchain project incubation services for clients and stakeholders to register, manage, cross-chain trading, verification, and certification services in order to increase the liquidity of green assets. In the future, combined with the uniqueness of NFT, Treelion will empower refined environmental protection, present unique ecological conditions of each protected area, and allow digital finance to be applied to a wider range of sustainability projects.
The greatest potential has arrived, and the future can be expected. Looking forward to walking the path together!