• Cryptocurrencies: 19 509

Tokens, Tokenization, and Entertainment Industry! What's the Catch?

The tokens transfer is just like sending a Bitcoin (BTC) payment - anybody to buy, sell, and trade the ownership. Tokens created through smart contracts on the Ethereum blockchain can help you thrive.

 Smart contracts have the function of fixing their implemented movement so the token can accumulate value in itself. As a musician, why sell your album for $ 10 per copy, when you can create a deficit in 1mln pieces and sell as a unique thing through auction. As the instances run out, the price will rise. 

FT, SFT, or NFT – what does it mean?

Three types of tokens can trade within a smart contract.

Fungible token (FT) - interchangeable token - is equivalent and interchangeable, like Ether, fiat currencies, and voting rights. One token 0x (ZRX) = another token 0x (ZRX), like $ 1 = $ 1. They can use as consumables in games (arrows, in general, everything that does not require uniqueness and what can divide.

Semi-fungible tokens (SFT) – the best example as an SFT is dGoods is an open-source and free standard for handling all types of virtual elements in the EOS blockchain. NFT and FT tokens do not provide enough flexibility to implement many business ideas. For example, 200 concert tickets are the same, but they have different places.

Nonfungible token (NFT) - non-interchangeable tokens - unique and distinct tokens are, like deeds of ownership, or collectibles - real estate, art, stocks, or cars.

Tokenization and entertainment industry

Lately, the tokenization of the entertainment industry stands out as a trend as developers, projects, and users tend to apply blockchain technologies in innovative and intriguing use cases. Sports contracts, intellectual property in sports, stars, and players see the implementing tokenized technological solutions as a financial instrument.

The tokenized investment has the potential to bring fans and their favorite athletes closer together through models. Anyone can contribute to a tokenized sponsorship for an up-and-coming athlete and then later share in his or her success.

From celebrities to online personalities, brands, companies, patents, and just about anything that has an attributed value, the future of the tokenized asset industry is visible. Anybody or anything has the opportunity to be tokenized and sold over the internet. 

Do you own anything or know anyone’s talent worth tokenize today?