2019 and 2020 have seen an explosion.

Non-fungible tokens blockchains scarcity and value. Non-Fungible Tokens in Ethereum. This began in 2017 when John Watkinson and Matt Hall released the first non fungible token on the American Studio Larva Labs Ethereum Blockchain. As well as for crypto-collectibles like CryptoKitties non-fungible tokens can be used for digital assets that need to be differentiated from each other in order to prove their value or scarcity.

NFTs have surged in popularity thanks to billionaires like Elon Musk. No that isnt a typo. Fungible tokens are like currency.

Now we look at what makes NFTs valuable and what it means to own them. The value of an NFT depends on the quality scarcity and. Non fungible tokens or NFTs have created a real buzz in the cryptocurrency space and the market for crypto art.

In the same year another project known as Crypto Kitties went viral soon after its. Fungible Tokens in Ethereum. In just a few years we have grown from nothing more than Bitcoin to a multitude of different projects exploring the limits of the technology.

It was auctioned for 69 million. NFTs come in a variety of forms from unique gaming assets and provably-rare digital art to memes and mementos. This raises fascinating questions about value and scarcity with respect to blockchain technology through a prism of non-fungibility of a digital asset and this paper aims to draw attention to these questions insofar as they may shape an alternative space of blockchain development and exchange going forward.

Non-fungible tokens NFTs are based on a similar concept. In the crypto world there are two types of tokens fungible and non-fungible. Non-fungible tokens NFTs are digital assets that exist in a specific form or pattern within their blockchain ecosystem.