What is the difference between NFT and SFT?
Non-fungible tokens have taken the world by storm. The reason Non-fungible tokens (NFTs) garnered so much attention was because of the immense price hike, and every day it creates new records. However, there is yet another new addition to this list; yes, we are talking about semi-fungible tokens. Now the question that arises here is which is better or what is the difference between non-fungible tokens and semi-fungible tokens. Well, talking about the generic aspects, semi-fungible tokens are more or less similar to non-fungible tokens. SFT or semi-fungible tokens is going to bring together the best of both worlds, and it is expected to resolve the issues and open up new possibilities. But when we compare it with NFT, then SFTs are lesser-known. If you wish to learn more about NFTs or you want to invest in them, it’s important to learn about NFT, and NFT certification is the best way.
NFT and SFT
Let us dive a bit deeper into them:
NFT or Non-Fungible Token- In simple words, these are digital certificates that authenticate a digital piece of data. It can be an image, audio, video or any artwork. An important feature of NFT is that it is non-exchangeable. You cannot exchange one NFT with another. Each NFT holds a specific value. Analogous to cryptocurrencies, NFTs cannot divide into fractions. They are unique, they may have copies, but each of these copies holds different values.
These are created and stored on Blockchain. Since all the NFTs are based on Blockchain, it ensures data security and safety. It cannot be deleted or destroyed, or altered. NFTs are implemented on Ethereum’s ERC-721 standard. This defines the functionality and rules of NFT.
Semi-fungible tokens- These are fairly new in the market, and similar to non-fungible tokens these are created on Blockchain. Semi fungible tokens were created by blockchain gaming developer, Enjin. Presently, the major application of SFT is limited to the gaming industry.
These tokens allow the game creators to offer in-game items with functionalities of both fungible and non-fungible tokens. The players can exchange fungible in-game items for NFTs and vice versa.
non-fungible tokens started to trend in 2021. The prices of NFTs started to skyrocket, and these are expected to grow in the times to come. However, many people doubt its longevity. As compared to NFTs, the SFTs usage is majorly limited to just video games. To make its use more profound and popular, it is important for SFT’s developers to diversify its application to ensure wider adoption.
Become a certified NFT expert with the Blockchain Council
Over the years, we have witnessed a massive rise in the demand for experts in Blockchain and allied fields. Any new technology showcases the future and growth prospects. NFT is one such development that has recently become very popular. The way its popularity has skyrocketed, many companies are willing to explore more about non-fungible tokens and their applications. With the NFT certification, you will get to know more details about non-fungible tokens and their application. The Blockchain Council provides the best online NFT certification course. To know more about it, connect with the Blockchain Council today.
