Pros of NFT

• They could unlock new revenue streams in gaming, sports, the arts, and technology.
• NFTs could introduce millions of people to cryptocurrencies for the very first time.
• They can transform our attitudes toward ownership — and make it possible to own a real-world asset that’s thousands of miles away.

Cons of NFT

• Building decentralized apps for non‑fungible tokens can be tricky and time consuming.
• Much more simplification is needed so NFTs are easy to use for people who know nothing about blockchain.
• NFT games can have a ”hot potato” effect. Players buy an asset in the hope of selling it on for a profit, but if the market collapses, they can make a nasty loss.

NFT Stats

• All these stats making promises of astronomical growth don’t tell the full story, though. The NFT space does have its challenges.
• According to Nonfungible.com’s annual report, most projects have a poor retention rate — and in 2019, the vast majority were used for three months or less. As of February 2020, just 3.5% of these platforms were used for more than 10 months.
• The liquidity of NFTs is also a crucial measure of how healthy a marketplace is, but in 2019, just 12% of newly created assets actually circulated between users.

Big NFT News in 2020 (so far)

• Back in March 2020, Tyler and Cameron Winklevoss revamped Nifty, a centralized exchange that allows people to sell their tokens and withdraw their profits in fiat.
• Companies are using NFTs to help consumers establish ownership and control over their DNA data, and others are planning to launch peer-to-peer marketplaces for NFT mortgages and rentals.
• NFTs are even being created for journalistic content in a bid to tackle fake news.

What’s Next?

• A straightforward user interface will be crucial for unlocking mainstream adoption.
• As endless experimentation takes place, we’ll likely see several NFT projects crash and burn. Some will struggle to maintain the excitement and momentum they have immediately after launching.
• As such, if you’re tempted to snap up a pricy token worth a few hundred bucks, make sure you’re not left holding a hot potato.

Full artcile: https://cointelegraph.com/magazine/nonfungible-tokens/

The post ROTD: Non-Fungible Token (NFT) appeared first on Blockchain Insider.

It’s not a matter of “IF” Crypto will take on the financial world, but rather just a question of “WHEN”.

You can either get left behind or prepare to become mega wealthy, because getting in on the boom of a lifetime is how generational wealth is made.

Right now, the bond market is about 3 times bigger than the stock market. Government bonds make up a large proportion of the secondary market, with a total value of $22.116 trillion across the world as of September 2018.

And cryptocurrencies are going to replace it.

Without getting too deep, cryptocurrencies allow contracts to be written that do not require middlemen.

In September 2018, Austria became the latest government to successfully trial blockchain platforms to issue government bonds. The trial follows in the footsteps of the Australian and Thai governments, both of whom developed blockchain bond issuing platforms earlier this year.

J.P. Morgan has also tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms, of which the Canadian bank issued a $150m one-year floating-rate Yankee certificate of deposit, with a parallel simulation of the issuance, using blockchain technology.

Image Source: Pixabay

https://cointelegraph.com/news/government-bonds-how-blockchain-can-beat-the-red-tape

https://www.jpmorgan.com/country/MY/en/detail/1320566740924

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