A look into the future (NFT TOKENS)

What are the current uses of an NFT?

Let us remember the use of centennials, which are the coins that are minted in different metals of X or Y value. These used to be bought to keep as an investment, to later sell them for more value than they had been bought depending on demand. Currently, NFT development service are generated just for the same use.

Currently, there are various networks or blockchains dedicated to certain markets, whether collector networks or Marketplace, which are nothing more than decentralized applications (dApps) that run on the Internet.

NFTs , as mentioned above, generate networks for the exchange, purchase or sale of the same class of items. For example, with the creation of digital art, there are different dApps that have the functionality to sell and/or buy and/or exchange digital content such as images . These make sure to be original and unique, which allows their value to grow, which is why many people have taken it as a form of investment.

Other current uses of NFTs include: validating copyright, representing a person as the sole owner of virtual real estate, and as a security key. Also, among some famous applications that use NFT we find : CryptoKitties , Decentraland , Ether Legends , RareBits and OpenSea .

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Where is the use of NFTs going or what is expected of them in the future?

At this time, the future of NFTs is not very clear and their use is only for digital items. However, many specialists are betting on a more extensive use of these Non-Fungible Tokens. There is a possibility that they will be used in much wider circles and that at this moment we could perhaps not imagine.

One use that NFTs are being favored for is their function as ownership documents. Not only of digital and/or physical real estate, but of anything, and even as an official identification that guarantees a person as an existing human being (to avoid fraud and identity theft).

It has also been mentioned that they can be used as an access card to universities and certify if a school level is met. In another area where it has also been thought of using NFT is in the market for the sale of experiences (travel agencies, flights, etc.). Here the idea would be to exchange NFT Tickets with people without having to outsource the service with airlines, travel agencies and others.

In more progressive perspectives, NFTs can become part of the economy in virtual worlds, virtual or immersive realities, supported by the new concept of the existence of a metaverse.

But how to create NFTs ?

To generate NFTs, a basic knowledge of object-oriented programming and management of languages ​​such as Solidity, JavaScript (for the creation of dApps), knowledge of how the blockchain works and of course the ERC-271 standard are required . We will briefly touch on each of these concepts and definitions below.

Solidity is the specific language used to code Smart Contracts . These are simple programs that are stored in the blockchain and are executed when certain conditions are met, usually defined in them .

JavaScript , together with tools such as HTML, CSS and other Frameworks, helps us to develop the graphic part of our site that will be connecting to the blockchain where our Smart Contract is located. These web applications are called dApps.

dApps is the abbreviation for ‘Decentrilized Applications’, which, as its English name indicates, are applications that can access any part of the blockchain without the need to live on a server with a backend that supports them; the backend for our dApps will be the Smart Contract.

The ERC721 standard is a series of interfaces developed in Solidity, used as templates that any developer wishing to create NFT development must comply with. These interfaces define action methods such as the following: mining, token transfer, token query, token owner query, token validation and approval, etc.; These are the functionalities with which our Smart Contract will work.

The following are some necessary tools to be able to set up a local test environment and start developing our own NFTs :

• A wallet in MetaMask to be able to connect to different blockchain networks, even the one we build locally.
• Install Ganache de Truffle, which is a simulation of the Ethreum blockchain, which has a graphical interface that allows us to consult the blocks that we are generating, as well as see its meta data.
• We can use any IDE that supports Solidity as a programming language. Among the most popular we have IntelliJ IDEA and Visual Code Studio, with its installation of the corresponding Solidity plugin.

With all these tools previously installed and correctly configured, we can create a new project in the desired IDE. We must take care that this will be used to develop the dApp and will contain interfaces and Smart Contract code.

conclusion :

Although we could say that NFTs are no longer part of the avant-garde topics of technology, we have to recognize that they have come to have an important space on a day-to-day basis, especially for those people who are looking for safer ways to invest. It must be recognized that NFTs are here to stay as a collateral consequence of the invention of the blockchain.

To give a better perspective of the invention of the blockchain and the technology that surrounds it, it is key to remember the creation of the Internet: at first it was used only in the field of warfare, but now it has taken on great importance.

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