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Club Crypto
  • Defi

    (Decentralized Finance)

     

    NFT - Non-fungible tokens based on unique attributes (as opposed to a bitcoin, where every coin is the same as every other).  Many chains/games exist as these tokens are not based on any value.  (Same as the USD is no longer based on gold, and any amount can be printed).

    NFCT - Non-fungible crypto tokens based on Cryptobutes - attributes that are trackable on the blockchain, and cannot be invented

     

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  • NFT use cases - Fund-raising, Art, Collections/Trading:

    • Fund raising:  A NFT can be created to fund a service using that NFT.  An old example of this would be the the scam coins from the mid 2010s; presold to develop a specific market.  An NFT adds a blockchain that tracks individual crypto assets rather than amount of crypto assets.
    • Art:  NFTs will bring the entertainment industry into crypto as singers, models, artists, etc can release work and be guaranteed payments without worrying about theft or copyright issues.  Imagine a NFT run with a crypto invitation to a live concert - artists can go back to preforming with the tightest of social restrictions.
    • Collections/Trading:  A license from Disney to sell character collections, or for Troll dolls, or Cabbage Patch kids, would put you in the financial upper 1%.  The only cost to a NFT is the licensing fees and cost of development.   There are many websites where you can trade NFTs.

    NFCT use cases - All NFT cases plus:

    Cryptobutes can be verified instantly and automatically via the blockchain.   A company could view resumes only from people who match parameters; no more losing work to a scammer.   Proof of specializations (eg:  finding duplicate accounts) allows for further refined needs (scambuster), which leads to higher value of your work.

    It removes the ability for a third party to dilute your assets.  With the NFT system, if you have a valuable card and the developer needs extra funds, new cards could be released making your card worth less on the market.   With NFCT, the cryptobutes that give you value cannot be diluted since they are backed by blockchain.  

     

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    Anyone is able to create a NFCT run, using any combination of partner cryptobutes.  Duplicate runs (same cryptobute list) are treated as different.

    If a member has staked their partner cryptobute, they can receive rewards as their data is used!

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