NFT Development

NFTs (non-fungible token) have gained a lot of popularity in the last year and a lot of people have their attention directed towards this topic.

But, what is an NFT?

Let’s provide a brief definition of what this is for people that have heard of this, but are not actually sure of what it represents.

Well, an NFT is a digital token that is unique and cannot be replaced with something else. A cryptocurrency is fungible, meaning that you can trade a single unit of a cryptocurrency for another one of the same kind, ending up with exactly the same value. An NFT on the other hand is a one-of-a-kind trading card, and if traded you’ll end up with something entirely different.

On a high level, most of the NFTs available in the current market are based on the Ethereum blockchain (including BSC, as the Binance Chain is a fork of the Ethereum blockchain). NFTs are somewhat similar to cryptocurrency, but in fact, they actually store extra information that makes them work differently. Currently, the main usability of NFTs is to use it as a way of selling digital art (drawings, illustrations, paintings etc).

Now that we have covered a small intro on the NFTs we would like to present to you the applicability of these digital tokens as part of SeedOn’s solution.

What role do NFTs play as part of SeedOn?

We are planning to actually have an NFT digital token created for each successful startup that has completed its crowdfunding campaign and go through all of the defined implementation stages. Having an NFT for each successful startup might in fact boost their popularity and help them get more traction into the market they are looking to tackle.

Imagine how cool would it be to have the next Facebook business crowdfunded on SeedOn platform, purchase and own its only NFT token, and in the following years have the company’s success increase the value of your token.