#Non-Fungible Tokens

The U.K government has announced that it has plans in issuing a non-fungible token (NFT) in its push toward embracing crypto technologies. This is where non-fungible tokens (NFTs) enter the scene. Critics are concerned about how PoS would likely favor entities with larger amounts of tokens, leading to higher share in the benefits and greater influence in the blockchain process. ASRock issues its first non-fungible token (NFT), Phantom Gaming EVO on OpenSea. We now have cryptocurrency as a mode for online payment and transactions, and then lurking around the digital collector's spectrum are the Non-Fungible Tokens or NFTs. What are Non-Fungible Tokens The term fungible refers to the interchangeability of tokens with equal value, meaning that two parties can swap tokens without gaining or losing anything as long as it is of equal value—like exchanging five PHP 20 for one PHP 100 bill. For this case, non-fungible refers to a token that cannot be replaced, divided, or merged. The majority of NFT tokens were built using Ethereum token standard ERC-721, proposed by Dieter Shirley. Read more in our articles including "U.K. plans to create own NFT" and "Rethinking NFTs: Back to the future or a past revisited?".