1. What is NFT?
NFTs, or non-fungible tokens, are unique digital representations of a piece of media built and certified by blockchain technology. They can be a representation of practically anything from art, to collectibles, music, videos, gaming gear, and much more.
NFT v.s. FT
NFT stands for Non Fungible Tokens. It is the only and inseparable token, such as Cryptokitties, tokenized digital tickets.
FT (Fungible Token), generally refers to native tokens of a blockchain network, or tokens minted under fungible token standards. For example, BTC, ETH, USDC, and USDT are fungible tokens. But the boundary of FT is also constantly expanding and evolving.
2. What are NFTs?
NFTs are generally minted with ERC-721 standards. NFTs are unique, indivisible, and interoperable proofs of digital asset ownership. It may represent your house or gear in a metaverse, or prove that you own a certain digital or physical entity, such as a piece of artwork, or an a bric-a-brac in a virtual place.
Unlike FT (Fungible token), each NFT has its own unique attributes that distinguish it from other NFTs. Each NFT has its unique attributes or properties, which may be stored on a blockchain network or other distributed networks.
ERC721 v.s. ERC1155
This section may involve a bit of nitty-gritty about NFTs, but it's always nice to get started with the building blocks of any burgeoning space before taking the plunge into it.
ERC-721
ERC-721, also called Non-fungible Token Standard, is a standard of smart contracts for creating NFTs. According to the proposal submitted at the Ethereum Improvement Proposals, NFTs can represent ownership over digital or physical assets. We considered a diverse universe of assets, and we know you will dream up many more:
- Physical property — houses, unique artwork
- Virtual collectables — unique pictures of kittens, collectable cards
- “Negative value” assets — loans, burdens and other responsibilities
In general, all houses are distinct and no two kittens are alike. NFTs are distinguishable and you must track the ownership of each one separately.
ERC-1155
Compared to ERC-721, ERC-1155 offers an all-inclusive solution to tokens on the Ethereum blockchain. With ERC-20, for example, developers must deploy a smart contract for each individual type of tokens. ERC-721 standard introduces token ID and the possibility of creating a group of tokens independent of one another known as NFTs. But ERC-20 and ERC-721 cannot exist simultaneously in one smart contract.
In contrast, the ERC-1155 Multi Token Standard allows for each token ID to represent a new configurable token type, which may have its own metadata, supply and other attributes.
3. What is OKX NFT Marketplace?
OKX NFT marketplace, a decentralized platform for your virtual assets. We gather listings from many platforms, including OpenSea, MagicEden, and LooksRare. You can spot up-and-coming projects with our Analytics, stay on top of the ongoing minting events with our Stats, and customize trading needs with our Order Book.
4. Why OKX NFT?
We offer a range of exclusive services: Stats, Analytics, Order Book, and Launchpad.
- Use our Order Book to customize strategies to your trading needs.
- Use our Analytics to get the latest about a project's social media, and spot and flip NFTs with great potential.
- Use our Stats to make swift and smart decisions with our real-time data.
- On OKX NFT Launchpad, you can enjoy easy access and first-mover advantage of hankered-after NFT projects.
In addition, OKX NFT offers the unique service of cross-platform listing and selling. You can sell your OKX-listed NFT to an OpenSea buyer. Or else, you can buy an OpenSea-listed NFT on OKX NFT.
5. OKX NFT Marketplace Features
OKX NFT brings together many esteemed artists, game developers, creators, and NFT enthusiasts to create and trade NFTs. The platform features 5 tools for you to make the most out of NFTs, which are:
Featured: snap up NFTs from special events. Flip trending NFTs, spot rocketing floor prices, and browse collections by category. Explore GameFi, virtual places, utility NFTs, and many more.
Marketplace: place offers or listings on NFT across respected markets and numerous blockchains. OKX NFT supports 9 blockchains including Ethereum, OKC, BSC, and Polygon;
Launchpad: launch your projects on OKX's exclusive NFT initial offering platform;
Stats: access real-time, comprehensive on-chain data to help users gain insight into market trends.
OKX NFT is committed to improving our products and services. For more information about Web3, blockchain, or OKX, you are welcome to visit our Help Center.
OKX Team
Dec 2, 2022 (UTC)
