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FARSWAP AUDIT REPORTS
FarSwap And NFT
Non-Fungible Token
"NFT" "Non-Fungible Tokens", which you may have heard a lot in the news or on the internet recently, are products that you can replace with "Fungible-products".
For example, if you have 1 kilogram of flour in your kitchen when this flour is exhausted, you can go to the market and buy another 1 kilogram, which is equivalent to it (not essentially different in "value"). But if you have Van Gogh's Auto-portrait in your house (or museum), it's impossible to replace it with a drawing identical to it in value if you have it stolen.
There is 1 of that product in the world.
The products that cannot be replaced at work are called "non-fungible" products in the sense of " unmatched".
Of course, there is a gray zone between these two ends: If you have a Porsche 916, for example, you can technically fill it; however, only 11 of this car were ever built in the world, not to be reproduced, so it will be very difficult to replace your loss.
As a result, the NFT culture, which is based on the purchase and sale of digital artworks with cryptocurrencies, deals with "non-commodities". So if you have 1 of them, you have a very unique product.
Here FarSwap is going to assign the NFT platform for its users.
Users will be able to buy/sell/bid on items and collections.
As an example, it may be Domain Names, Virtual Worlds, Trading cards, Collectibles, Sports gifs, Utilities, etc.
Can you see the revolution that this can create in the human culture?
We are talking about valuing the originals of digital products found in every corner of the internet, such as "valuable, collectible items" of our childhood such as football player cards, Pokemon toys, or teasers! "First tweet", "first video", "most-watched TikTok" or any artist's digital works, games, academic or popular articles, and all other digital products you can think of can be bought and sold thanks to NFT and these will create a whole new market.
In the beginning, FarSwap will offer three payment methods: BNB ETH and FAR. To sell your goods you will be able to add them to the auction. And users who would like to purchase your goods will bid on them.
Last modified 9mo ago
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