NFT Collection (ERC-721)
Last updated
Last updated
NFT (non-fungible token - nonβfungible token) is a kind of cryptographic token in the blockchain, which is a unique, non-fungible asset.
The most popular smart contract standard for running NFT is ERC-721.
The smart contract of the NFT collection contains a database of metadata of tokens and their IDs, as well as functions for issuing, transferring, storing, sales stages, and so on.
In CryptoDo, you can create a multifunctional smart contract to launch an NFT collection.
1. Selling art through NFT. You can launch an NFT collection with your creativity and sell it on popular NFT marketplaces (OpenSea, Raible, Binance NFT, etc.). At the same time, NFT will allow you to retain copyrights and receive royalties from each resale of your token.
2. NFT tickets. You can launch an NFT collection with digital tickets for your event. NFT cannot be forged, each token is unique, so the technology is great for this.
3. NFT as a user ID. The non-interchangeability of NFTs allows them to be used as documents, certificates and unique keys to any kind of content. For example, you can create a private club with access only for those who own an NFT token from your collection.
4. NFT as a fundraising method. You can launch an NFT collection for the purpose of collective financing of any kind of initiatives. Financing of development, construction, book writing, research work is easy to conduct through the sale of NFT tokens to the audience. NFT is a new approach to crowdfunding.
5. NFT in games. You can digitize game items at the expense of NFT and create a free market of values for your players. This will allow you to get additional income from royalties and increase player engagement through new mechanics and features.