Before talking about this topic we must know a very important concept which is cited below from Wikipedia:
A blockchain, initially blockchain, is a growing list of records, called blocks, that are linked by cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (usually represented as a Merkle). By design, a blockchain is resistant to modification of its data. This is because, once recorded, the data in a given block cannot be altered retroactively without altering all subsequent blocks.
With this concept, we can begin to treat the subject a little better, and we can add the following: this chain of blocks is distributed and decentralized, and the devices in charge of processing cryptocurrency transactions are the miners (for the case of mineable cryptocurrencies prof of work), having a local portfolio for example of bitcoin you can have a copy of the accounting book of it (Currently it is not highly recommended since there are many Gigabytes of information that you will have locally and constantly increasing due to to the execution of daily transactions that are saved).
Blockchains and the cryptocurrencies in them are revolutionizing the economy worldwide and taking away the power that banking institutions exercised over the monetary masses of each country and the world.
It can be said that a new world of possibilities is being created and overthrowing models that are already old, are a solution that if a depth is analyzed was already necessary today.
But these technologies are constantly improving and updating introducing new concepts to the globalized and computerized world in which we live, among the technologies that are being born on blockchains this new technology which is NFT or Non-Fungible Tokens, another form of revolution, but what is a non-fungible NFT token? To answer, the following text can be cited from Wikipedia:
A non-fungible token (NFT) is a special type of cryptographic token that represents something unique; Therefore, non-fungible tokens are not interchangeable with each other. This is in contrast to cryptocurrencies like bitcoin and many network or utility tokens that are fungible in nature.
Non-fungible tokens are another way to have a unique property to a collectible object in the digital world, and thereby allow to protect the property over it in such a way that no other element like this can exist.
How can I create a non-fungible token or a non-fungible collection? Well, to create a non-fungible token the traditional way requires creating it on the ethereum chain and another blockchain that has support for it but you must pay for example with ethereum to create each fungible token, but currently the ethereum blockchain is very congested and the commissions in it are quite high, as a result of this OpenSea was born a website that allows you to create your own non-fungible tokens without the cost of paying with ethereums the commission of its creation the URL of the website is:
This website refers to other websites that also offer this service in an easy and very intuitive way to use.
Standards have even been created for this issue within the ethereum blockchain that in the future may be the basis for something even more advanced in the future, but currently we can only speculate what the future of this technology could be that could be applied. including on elements of the real world, Although, research and creating blockchains for this topic are already being done, many of these are in the development and testing stage and there is still nothing completely concrete about it, for now.
Projects that use and deploy NFT:
- Decentraland.
- Gods unchanined.
- My Crypto Heroes.
- Binance Collectibles.
It can be said that the future and present in the world we live in will be defined by cryptocurrencies blockchains, tokens and other decentralized cryptographic methods that will allow the world to change radically in the coming years, and that perhaps and that new generations will interact with these technologies more in depth and other technologies such as artificial intelligence, which is progressively combining with blockchains.
Now the question is, whether this technological future will translate into improvements for the life of humanity or will it be the opposite? We will only discover this over the years as to what direction these technologies such as blockchains, non-fungible tokens (NFT) and rapidly evolving artificial intelligence takes humanity to.
