Elrond Wiki - The Rise of NFTs on Elrond Network
  The Rise of NFTs on Elrond Network
Published by Elrond Wiki | the 07/08/2022  |  Category: Elrond Library > Ecosystem

Non-fungible tokens (NFTs) are quickly gaining in popularity on Elrond Network. These unique digital assets have a range of applications, from gaming and airdrops to collectibles, etc.

Every day, we hear about a new NFT project on the Elrond network. That can be both good and bad as a whole. On the one hand, it demonstrates the incredible potential of Elrond technology and its ability to bring about innovation and change. On the other hand, it can make it difficult to discern which projects are worth paying attention to. However, in general, the rise of NFTs on Elrond Network is something to cherish. This blog will discuss NFTs in the Elrond network and why many NFT projects are moving to Elrond. Let’s get started.

What Makes NFTs on Elrond Special?

For starters, NFTs are unique. Unlike fungible tokens (which can be interchanged with other fungible tokens of the same type), each NFT is a one-of-a-kind asset. This uniqueness is what gives NFTs their value. And because they’re digital assets, they can be easily traded and stored online.

Another key feature of NFTs is that they’re programmable. That means that NFTs can be built with specific properties and behaviors baked into them. For example, an NFT could be programmed to expire after a particular time, or it could be set to automatically transfer ownership to another party when certain conditions are met. This programmability makes NFTs incredibly versatile and opens up all sorts of possibilities for how they can be used.

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