Blockchain and Crypto Blog

Ivan on Tech Academy provides latest insights and reports about the blockchain industry.

blockchain cryptokitties fungibility nfts non-fungible tokens

Definition and Use Cases of Non-Fungible Tokens (NFT)

Written By Ivan on Tech

Aug 24, 2020

There appears to be an ever-increasing amount of information to learn about the various blockchain ecosystems. One of the terms that has recently seen an upswing in interest surrounding NFTs. NFTs (Non-Fungible Tokens) are becoming more established as the crypto sector heats up in what many hope will constitute a 2020 - 2021 bull run. So, what are NFTs?

In properly answering that question, however, we need to take a closer look at what non-fungible tokens, or NFTs, offer. Specifically, NFTs are bringing valuable assets to the blockchain through a wide array of industries including gaming, art, fashion, and real estate.

In this article, we’ll explore some of the key use cases for non-fungible tokens. We’ll also look at some of the latest token standards, how they are implemented, and what gives them value. First and foremost, however, we need to take a look at what blockchain technology actually is.

What is Blockchain Technology?

You may be familiar with blockchain...

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cryptokitties what are cryptokitties

CryptoKitties Explained - What Are CryptoKitties and How Do They Work?

Written By Ivan on Tech

Jun 26, 2020

What are CryptoKitties? 

CryptoKitties is a game where you collect, breed, and even sell virtual cats for real money. Every single cat in the game is entirely unique and also impossible to replicate. One single person owns them so that no-one can take them away from him/her, and it is impossible to destroy the virtual kittens. 

All the kittens in the game are tradable within the platform, and some of them are even selling for real money. The game is a so-called dApp, which is short for Decentralized Application and an essential part of the DeFi field. This means that no single entity or individual owns the application.

CryptoKitties is the first decentralized application that has been made for game applications or "spare-time" use-cases. A team out of Vancouver created CryptoKitties, and the company's name is Axiom Zen. The game is running on Ethereum's blockchain, which is a well-known cryptocurrency.

The game has exploded recently, and there are even reports of people...

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