Is NFT a useless toy or a severe technology?

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The hype around NFT is already subsiding, and sales of NFT images have come to naught. But is the technology of non-fungible tokens as useless as they say lately?

The most familiar tokens to us are subway cards. We buy a subway token to ride the subway. If earlier only states and large corporations could issue their tokens, now everyone can issue them within 15 minutes.

There are a lot of different tokens. Management tokens, tokens for purchasing services and goods, music, works of art, and tokens for buying services and goods. In China, reputation is tokenized in the form of a social rating). Soon, all citizens will be tokenized with the introduction of state digital money (CBDC).

All tokens can be divided into fungible and non-fungible, better known as NFTs.

Fungible tokens are issued for identical goods or services that do not differ from each other. For example, there is a certain amount of tokens for taking the subway, and it makes no difference which token you use for this trip.

Another thing is non-fungible NFT tokens. They are usually released for something unique. It is generally viewed that NFTs are pixelated pictures people buy for crazy money. In fact, they are not. For example, we have a cottage village of 10 buildings. All houses were built using the same materials and a standard layout. But one home is located at the entrance to the town, and the other on the outskirts. One house faces the forest, and the other one the lake. In this case, for each house, it will be necessary to issue a separate non-fungible NFT token.

The most exciting thing is that you can measure a person's reputation with the help of the NFT token. The reputation tokenization is inextricably linked with personality tokenization.

How does it work?

For example, Rachel decided to become a programmer. For now she is not a programmer yet and needs funds for subsistence and training. Rachel can issue 10,000 tokens for her programs. At the presale, Rachel can sell her tokens for $10-$20. But after some time, when Rachel becomes a high-class programmer, her services will increase in price and be estimated at $100-200, depending on how well she masters programming languages.

If Rachel fulfills the obligations on the tokens, her reputation will grow. And in case of failure to fulfill the obligations, it will accumulate a vast negative reputation. This will make it clear to others whether to have business with Rachel or not.

NFTs are tightly integrated into our lives, and most likely, the world around us will soon be tokenized. Driver's licenses, real estate rights, art, and even pets.

Which tokens would you buy at the presale?

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