Offerings for Both Fungible and Popular “NFT” Non-Fungible Tokens Market
ETHEREUM NFT MARKET IS EXPECTED TO BOOM IN 2021
New York, NY, March 09, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — SmartCard Marketing Systems Inc (OTC:SMKG):
What are Fungible and Non-Fungible Tokens? In the digital world, items/products/services can be sold, purchased, and owned by one or more individuals. When it comes to Fungible tokens in terms of goods/services/products are being contracted without an individual specimen being specified. They are replaceable by another identical item, mutually interchangeable, and can be traded and their value remains constant.
Fungibility is the ability of a good or asset to be interchanged with other individual goods or assets of the same type. Fungible assets simplify the exchange and trade processes, as fungibility implies equal value between the assets. For example, A Dollar can be traded or exchanged for the product or services of its value. In this case, Dollar is easily replaceable and exchangeable by anyone who wishes to enter a trade.
NFT or Non–Fungible Tokens on the other hand are cryptocurrency assets on blockchain with unique identification codes and metadata that distinguish them from each other and cannot be traded or exchanged at equivalency. It represents a wide range of unique items, both physical and virtual like real estate or digital art. Ownership of a Movie ticket / Flight Ticket is an example of a Non-Fungible Token. Digital Art created by someone is a Non-Fungible token, you can create duplicate copies of this digital art, however, the owner will always remain the same.
In today’s digital era, artists creating a digital piece are not benefitted as much for their creativity as they deserve since the creativity can easily be duplicated/copied. NFT safeguards the interest of such individuals and ensures that the ownership of the asset remains with the Artist and when it is traded, the owner of the asset gets a 10% cut of the artwork. With NFT, individuals can create, license, own, and control the distribution of their digital content and make money on sales and royalties.
There are multiple options in the market that deals with Fungible Tokens and NFT. The choice seems difficult when choosing the best option. We at Smartcard Marketing Systems Inc. (OTC:SMKG) like to highlight a few key pointers which you need to keep in mind while making a choice:
1. Easy ekyc & kyb onboarding of Individuals / Businesses
2. Authentication and verification of Individuals / Businesses
3. Creating Ethereum and Digital Wallets
4. Setting Smart-Contracts Auctions
5. Trade ready
6. Global Payment Rails
Smartcard Marketing Systems Inc. (OTC:SMKG) with its platform OriginatorX is a simple to use platform with an ability to underwrite, issue and trade in both Fungible and Non-Fungible assets. The platform allows you to set an Ethereum and Digital wallet to store your Crypto Currency securely and enables the NFT trading. The Company is excited with this offering as it is combined with their 16 proprietary platforms and is disrupting the industry.
Axepay – a digital payment rail, FX Trading and digital wallet platform enables an individual / Merchant / FI’s to trade their Fungible and NFT tokens globally at ease. With more than 200+ countries presence this becomes easy for a larger audience to participate which ultimately enables the company to access treasury payments making it easy to send or receive funds.
With Granularchain – a permission based digital onboarding and authentication platform also by SMKG – individuals, Merchants / FI’s can now easily onboard their clients, create unique digital ID keys and can ensure authentication with Video eKYC, KYC & KYB. Granularchain allows individuals / Companies to create product or service specific smart contracts specific to their Fungible or NFT needs and start trading in less than 5 minutes. While with trading, the added feature enables FI’s to check the AML verification before they deal with anyone ensuring smooth and steady future growth.
QR guru – an online e-commerce platform for businesses also part of the SMKG suite, offers a digital product library which may be listed by individuals and companies, and sold with the NFT terms in place.
While the NFT market tripled in 2020 to $250+ million, it is only started to grow and is expected to the future
Stats and info link: What Is a Non-Fungible Token (NFT)? | CoinMarketCap
What Are Fungible Tokens?
Fungible tokens are tokens that are tradable for each other, and their value remains constant. In the above example, Bitcoin is a fungible token because it has the same value regardless of its owner or history.
Characteristics of Non-Fungible Tokens
- Rare – The value of NFTs comes from their scarcity. Although NFT developers can create any amount of non-fungible tokens, they often limit the tokens to increase rarity.
- Indivisible– Although not set in stone, most non-fungible tokens are indivisible into smaller units. You either purchase the entire amount of, say, a digital art piece, or purchase no art at all.
- Unique– This is perhaps the most significant characteristic of them all. NFTs have a permanent information tab that records their uniqueness. Think of this information as a certificate of authenticity.
The company CEO, Massimo Barone, stated, “We are very excited with the opportunity to collaborate and deploy our technology portfolio through the industry verticals and the flexibility these applications offer combined with the recently added Teleconferencing segment with the joint venture launch of JetWebinar now integrated, new opportunities to cater end-to-end channels with our Payment Applications and Digital Workforce solutions are accelerating.”
About us
SmartCard Marketing Systems Inc (OTC:SMKG) is an industry leader in specialized industry e-commerce, cloud and mobility applications to the global PayTech and FinTech markets. SMKG is an entrepreneurial boutique technology company, providing business intelligence and digital transformation strategies with a proprietary portfolio of applications and wireframes for banking, enterprises, retail e-wallets, digital id, blockchain, e-KYC, digital workforce, events management, education, telemedicine and ride-booking industries. For more info visit www.smartcardmarketingsystems.com or visit our business applications marketplace at www.Emphasispay.com.
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