What Is PIXEL NFT (PNT)? Complete Guide Review About PIXEL NFT.

What Is PIXEL NFT (PNT)?

The world as PIXEL NFT know of today has changed a lot in the recent past. Historians believe that more technological advancements and progress have been made in the last few decades than as compared to the entire history of humanity of thousands of years. Your belief is owe a lot of this progress to revolutionary technologies like the internet, AI, machine learning, data sciences and the one and only blockchain. While all the other technologies help your world transition to a digital world, it is blockchain, which holds this digital world together and provides the security needed to build your confidence in the digital world.

While blockchain has left no industry alone, it has influenced the finance industry the most. Blockchain has entirely changed the way finance industry worked. From the decentralized finance applications to fungible currencies, nothing is left unaltered. PIXEL NFT However, in this paper are going to focus on something different, something new – Non-fungible tokens.

PIXEL NFT Storage Key Points

What is NFT Non fungible token?

In order to fully grasp the concept of a non-fungible token, PIXEL NFT first need to understand what fungibility is and how it can be the differentiating factor between a simple cryptocurrency and a non-fungible token. In simple words, fungibility is the ability of an asset or a good to be interchanged with other individual asset or good of the same type. There are many examples of fungible assets around. Let start with the most common one; money.

If you lent someone 50 dollars, it would not matter to you if the person pays you back with the same bill or not. PIXEL NFT He could pay you another 50-dollar bill or simply two 20-dollar bills and one 10-dollar bill or any other configuration as long as the total equals 50. On the other hand, an example of a non-fungible asset would be a car or a house. If you lent someone your car, it would not be okay for them to return a different car back.

The Importance of Non-Fungible Tokens

PIXEL NFT are being thought as the change makers of the crypto paradigm by making each token irreplaceable and unique. NFTs have been compared with digital passports as each token contains a unique, non-transferable identity to differentiate it from other tokens. While NFTs cannot be exchanged for another, they are extensible, meaning that you can combine two NFTs together to breed a third one.

The non-fungibility of NFTs make them an asset of scarce nature and thus highly desirable for gamers, collectors and investors who are often ready to pay huge sums of money. The NFT of the piece of track allows the owner of the NFT to receive 5% dividend on all races that take place on that track. PIXEL NFT have the ability of making their owners a lot of money. There have been some crazy examples of NFTs where the owners have made an insane amount of money by selling things, which might not amount to any significant value in the real life.

A good example of this is a gamer selling “The Secrets of Satoshis Tea Garden” for $80,000 USD. The gamer purchased 64 lots in a decentralized virtual land platform, combined them into a single estate and created an PIXEL NFT for it, which became highly desirable due to its digital scarcity, its desirable location and road access in the game. Similarly, another investor sold a piece of digital Monaco racing track in the F1 Delta Time game.

Promising Use Cases of Non-Fungible Token

While PIXEL NFT have already discussed how much potential NFTs hold, it is now important that take a look at some of the important use cases of non-fungible tokens to understand how NFTs are the wave of future and how they hold more potential than any other cryptocurrency no matter how valuable it is due to the only fact that NFT represents something real, something of a significant value.

As mentioned before, one of the most important use case for NFTs is art. PIXEL NFT At some point in our life, they have all visited an art museum, looked at the price of an art piece and thought “WOAH! That is insane.” Well the reason behind this insane pricing of those pieces of art is the fact that are one-offs and something better or even remotely close to it can never be created again. NFTs present a similar opportunity but for digital artists.

Binance Smart Chain

Before you are set towards creating your own cryptocurrency, it is important that the selection of a blockchain platform that is apt for your use case is made. When it comes to blockchain platforms, there are plenty of options out there, each one with its own set of pros and cons. However, Binance Smart Chain is one such platform that not only offers low fees and fast transaction times but is also compatible with smart contracts. PIXEL NFT smart chain runs parallel to Binance chain and was specifically created to cater to smart contracts and decentralized applications.

Binance Smart Chain was first envisioned as just an extension to the Binance Chain; however, later its focused was changed to PIXEL NFT so as to not congest the Binance Chain. Therefore, due to the use of this architecture, Binance puts a lot of focus on the cross compatibility of these two chains and for that reason BEP2 tokens can be swapped for BEP20 tokens.