How to build N.F.T`s on Alvey Blockchain
Non-fungible tokens or NFTs are a type of digital token where every token is different and hold unique characteristics. Due to the nature of the NFTs, many NFTs have varying rarity and are considered valuable in the digital asset community. Anything from games to painting and even memes can be an NFT.
NFTs can help digital artists or any type of artist to fight plagiarism as they can tokenize their creations, which can’t be copied. Luxury goods can be verified making them NFTs and giving ownership to the buyer only. Manufacturing companies can tokenize their products in order to offer provenance to their consumer base.
Alvey token standard will be the most common token standard that NFTs will use in the future. Our ARC-721 and ARC1155 token standards are going to be used widely to create various NFTs. Alvey early-stage NFTs will use a hybrid ARC-20 token standard to create NFTs and to be able to sell it, you need to wrap them.