Recently, AI tools have become popular and a lot of information related to the Metaverse (Metaverse) and NFT has appeared, but since there are several tokens and they are all alphabetical and difficult to understand, I will try to present a brief summary.
About FT, NFT, and RFT
What is FT (fungible token)?
FT (fungible token) is a token that is exchangeable, meaning that it can be substituted for other identical tokens of the same type because they have the same value FT is one of the most common cryptocurrencies, with Bitcoin and Ethereum being the most common examples.
What is a NFT (Non-Fundable Token)?
A NFT (Non-Fundable Token) is a token that is individually identified and cannot be exchanged NFTs include digital art, music, game items, collectible items, etc. NFTs allow you to see who owns the item because they helps protect property rights.
What is an RFT (Refundable Token)?
An RFT (Refundable Token) is a third type of token that is created by wrapping other types of tokens around a token to individually define, duplicate, and distribute the various rights associated with an NFT, which is unique.
The difference between these tokens depends on whether the token is substitutable, whether the token is individually identifiable, or whether the token is attached to another token.
[Reference link] IEO implementation of PR-times-DAR tokens (Digital Asset Right Token)Here is a brief comparison table of FT, NFT, and RFT.
FT NFT RFT
Substitutable ◯ ✕ △
Identification Identical Individual Varies depending on the accompanying token
Uses Virtual currency Digital art, collectible items, game items Used to convert to ERC20 tokens for remittance, payment, revenue sharing to creators, etc.
Exchange Method Exchange between same tokens Transaction for each individual item Can be exchanged into different formats by being accompanied by other tokens
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