The cryptocurrency arena has always been an ardent supporter of new technological advancements, products, and pedagogies. Talking about the recent trend getting popularity in the space are the Non-fungible tokens or NFTs, which have become a hot-shot solution for the big players of the industry. What dragged the attention of the crypto enthusiasts towards NFTs was the super success of the renowned blockchain-based game, CryptoKitties. Launched in 2017, CryptoKitties has been a pioneer in promoting the concept of NFTs in a big way.
Before moving any further, let’s understand the meaning of non-fungible tokens. In simple terms, NFTs are a unique type of cryptographic tokens that are symbolic of a special asset and so are non-interchangeable. They ensure the highest standards of authenticity, ownership, and trust offered by blockchain. Last year saw a surge in the adoption of NFTs and the launch of NFT projects by multinational firms along with big investors.
The globally reputed firm, Animoca Brands Corporation Ltd., has recently bragged about the success of non-fungible tokens. The company is confident that soon NFTs will become mainstream offerings as biggies like Microsoft are showing trust in NFTs. Microsoft backed Azure platform launching its native non-fungible tokens program named “Azure Heroes.” The project aims to provide aid to the technical community members from various fields.
Recently, Stryking, the firm owned and managed by Animoca, auctioned the official FC Bayern Munich “Christmas 2019 Edition” NFTs clubbed in a bundle of seven offerings. The auction pooled in a whopping sum of 240.9649 ether, which is equivalent to the US $31,100.
Also, the firm has kickstarted the auctions for the FC Bayern Munich New year 2020 Edition Legendary Player Cards for its community. The process will end on January 6, 2020. The two special edition player cards earned during the two auctions will allow the owners to indulge in selling or trading of the cards as per their convenience.