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webSite/content/news/nft101.md

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 +++
-title= "Mango Animate’s Latest Software Helps Convert Text to Video Easily"
+title= "Non-fungible tokens (NFT)"
 date= "2021-08-09T00:34:35+08:00"
 tags = ["news"]
 type = "blog"
@@ -7,6 +7,8 @@ categories = ["news"]
 banner = "https://i.imgur.com/jdQb3ZH.jpg"
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+
+## Non-fungible tokens (NFT)
 NFTs are currently taking the digital art and collectibles world by storm. Digital artists are seeing their lives change thanks to huge sales to a new crypto-audience. And celebrities are joining in as they spot a new opportunity to connect with fans. But digital art is only one way to use NFTs. Really they can be used to represent ownership of any unique asset, like a deed for an item in the digital or physical realm.
 
 If Andy Warhol had been born in the late 90s, he probably would have minted Campbell's Soup as an NFT. It's only a matter of time before Kanye puts a run of Yeezys on Ethereum. And one day owning your car might be proved with an NFT.
@@ -29,31 +31,31 @@ Here's how an internet of NFTs compared to the internet most of us use today loo
 
 ### A comparison
 
-An NFT internet
+**An NFT internet**
 
-The internet today
+* NFTs are digitally unique, no two NFTs are the same.
 
-NFTs are digitally unique, no two NFTs are the same.
+* Every NFT must have an owner and this is of public record and easy for anyone to verify.
 
-A copy of a file, like an .mp3 or .jpg, is the same as the original.
+* NFTs are compatible with anything built using Ethereum. An NFT ticket for an event can be traded on every Ethereum marketplace, for an entirely different NFT. You could trade a piece of art for a ticket!
 
-Every NFT must have an owner and this is of public record and easy for anyone to verify.
+* Content creators can sell their work anywhere and can access a global market.
 
-Ownership records of digital items are stored on servers controlled by institutions – you must take their word for it.
+* Creators can retain ownership rights over their own work, and claim resale royalties directly.
 
-NFTs are compatible with anything built using Ethereum. An NFT ticket for an event can be traded on every Ethereum marketplace, for an entirely different NFT. You could trade a piece of art for a ticket!
+* Items can be used in surprising ways. For example, you can use digital artwork as collateral in a decentralised loan.
 
-Companies with digital items must build their own infrastructure. For example an app that issues digital tickets for events would have to build their own ticket exchange.
+**The internet today**
 
-Content creators can sell their work anywhere and can access a global market.
+* A copy of a file, like an .mp3 or .jpg, is the same as the original.
 
-Creators rely on the infrastructure and distribution of the platforms they use. These are often subject to terms of use and geographical restrictions.
+* Ownership records of digital items are stored on servers controlled by institutions – you must take their word for it.
 
-Creators can retain ownership rights over their own work, and claim resale royalties directly.
+* Companies with digital items must build their own infrastructure. For example an app that issues digital tickets for events would have to build their own ticket exchange.
 
-Platforms, such as music streaming services, retain the majority of profits from sales.
+* Creators rely on the infrastructure and distribution of the platforms they use. These are often subject to terms of use and geographical restrictions.
 
-Items can be used in surprising ways. For example, you can use digital artwork as collateral in a decentralised loan.
+*Platforms, such as music streaming services, retain the majority of profits from sales.
 
 ### NFT examples
 
@@ -172,12 +174,6 @@ Ultimately the items you grind for in-game can outlive the games themselves. Eve
 
 Decentraland, a virtual reality game, even lets you buy NFTs representing virtual parcels of land that you can use as you see fit.
 
-![👀](https://twemoji.maxcdn.com/2/svg/1f440.svg)
-
-Check out Ethereum games, powered by NFTs...
-
-[Explore NFT games](https://ethereum.org/en/dapps/?category=gaming)
-
 ### Making Ethereum addresses more memorable
 
 The Ethereum Name Service uses NFTs to provide your Ethereum address with an easier-to-remember name like `mywallet.eth`. This means you could ask someone to send you ETH via `mywallet.eth` rather than `0x123456789.....`.
@@ -321,3 +317,7 @@ _It’s also important to remember that Ethereum does more than just financial t
 #### Timelines
 
 The process has already started. [The Beacon Chain](https://ethereum.org/en/eth2/beacon-chain/), the first upgrade, shipped in December 2020. This provides the foundation for staking by allowing stakers to join the system. The next step relevant to energy efficiency is to merge the current chain, the one secured by miners, into the Beacon Chain where mining isn't needed. Timelines can't be exact at this stage, but it's estimated that this will happen some time in 2021/2022. This process is known as the merge (formerly referred to as the docking). [More on the merge](https://ethereum.org/en/eth2/merge/).
+
+### Build with NFTs
+
+Most NFTs are built using a consistent standard known as ERC-721. However there are other standards that you might want to look into. The ERC-1155 standard allows for semi-fungible tokens which is particularly useful in the realm of gaming. And more recently, EIP-2309 has been proposed to make minting NFTs a lot more efficient. This standard lets you mint as many as you like in one transaction!