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      The uniqueness of the gold NFT

04.04.2022

The NFT (non-fungible tokens) market has exploded recently.  This is because people who purchase gold take gold crypto tokens as a new form of investment.

      What is the secret of their demand?

      The token itself is a record in the blockchain, which is a kind of accounting system.  This means that the data is stored in a decentralized manner, which reliably protects the NFT from possible hacker attacks.  An ordinary token can be replaced by another without any consequences.  In the case of the NFT, there is no way to replace it in a way that does not break the system.  Therefore, each NFT token is unique; it cannot be replaced by another.

      The uniqueness of the NFT token is a key feature that makes the technology ideal for registration of ownership of anything, including gold.

     Gold tokens are devoid of the disadvantages of physical metal, which can be scratched or tarnished if stored improperly, which will reduce its sale price.  Also, gold NFTs successfully solve the security problem.

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