What is an NFT?

An NFT (Non-fungible token) is a digital asset that represents real-world objects like art, music, and in-game items. “Non-fungible” means that it’s unique and can’t be replaced with something else. For example, a one-of-a-kind trading card is non-fungible. If you traded it for a different card, you’d have something completely different.

NFTs have become very popular over the past few years. The market for NFTs surged to new highs in 2021 with $2.5 billion in sales. Jack Dorsey sold his first tweet as an NFT for over $2.9 million. And Beeple sold his NFT for $69 million!

Enter Alchemist Republic. Blue Baikal’s latest NFT+DeFi platform, Alchemist Republic lets users easily acquire NFTs by playing video games, and these NFTs can be staked to generate a passive income!

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In recent years, NFT (Non-Fungible Token) has taken over the world. If you spend a good amount of time on the Internet, it’s likely that you’ve seen at least one news article about NFTs or a social media post mentioning it. In case you’ve been living under a rock, here’s one.

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Decentralized Finance, commonly known as DeFi, is an umbrella term referring to whole financial infrastructure that places an emphasis on decentralization. DeFi consists of tools that allow users to lend, borrow, exchange crypto assets securely, without the participation of the middlemen like banks or any other financial intermediaries.

The infographic below should help you better understand this concept quickly.

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Alchemist Republic

Alchemist Republic

Alchemist Republic aims to change the way games are played through NFT + Defi.