Non Fungible Token

For a picture its like a digital canvass that has been verified by being on a block chain so you know this is the original of that picture vs a copy, kinda like the mona lisa is the original but if you try to pass off a copy people will know cause there is only one of them.

My feeling is at the moment its a bit of a wild west out there with the picture NFT's cause people are speculating that they are going to be worth more but mostly like with the crypto space its mostly gambling and hoping for the best. Now for me having a original NFT picture rather than a jpeg copy would make no difference and neither would be having the real mona lisa vs a copy as they would both look the same but one has more value to others although the whole art industry is pretty much just money laundering and tax evasion scheme so who knows if they will be worth more in the future.

But NFT's can be used for far more than that say things like the deed to your house by having it on a blockchain there can only be one deed and if you own the keys to that NFT you are the owner of it, if someone were to try to create a fake it would be easy to detect. To me that has value.

In gaming NFT's could be something like a one off sword for a MMO game which would also allow you to trade it to someone else, there could also be one hundred of these swords and you would know yours is the 56th one or whatever and such has some value to the game. One of the things Synth from Skycoin mentioned was because the trading of the gaming NFT's would be transferable it could mean that say you play the hell out of a online game get a bunch of cool items but then decide you want to start playing another game you would be able to trade those for ones in a new game and so in effect you would be earning a little money or value from playing a game as you can cash out the items which you don't need anymore.

Skycoin is currently making a game to showcase NFT's on their platform which will have various items that can be traded and kept, meant to be a bit like Terraria but with the ability to breed cats iirc so if you have a rare cat NFT it could be worth money cause people will want to breed with your cat so they can have a unique one for example.