NFT stands for Non-Fungible Token, in which “fungible” is often used in the economic realm, it means that the individual units of an asset are interchangeable and essentially indistinguishable from each other. For example, two USD 5 bills can be exchanged for a USD 10 bill and one USD 10 note can be exchanged for any other USD 10 note.
The opposite of “fungible” is “non-fungible” – when each unit of property is distinct from all other and irreplaceable. The NFT is essentially a digital authentication certificate that cannot be replicated. It is stored in a blockchain and is used to represent ownership of electronic goods. Thanks to the secure nature of blockchain technology, records of ownership are readily available, cannot be modified, and guarantee that there is only one owner at a time.
A new NFTs exchange – Tiara
Tiara is an e-commerce platform based on NFT technology, which will be launched in the coming time.
Tiara uses the open-source blockchain Binance along with BEP721 and BEP1155 standards to ensure the real ownership of users and NFT creators to their transaction items. In addition, this platform covers a wide range of areas such as digital artworks, trading cards, plus utility tokens and even parcels of virtual land.
Tiara’s cryptocurrency TTI plays a critical role in maintaining and operating its platform. In specific, TTI tokens provide users with the right to submit and vote on proposals including possible fee changes, how those fees are spent and the principles controlling creator promotion. And Tiara advances towards a software-based system controlled by users called the Tiara DAO. Therefore, Tiara will be a valuable product in the NFT technology market.
More information you can see at:
Telegram channel: https://t.me/Tiaranft
Group telegram chat: https://t.me/tiaranftmarketplace