The Basics
These non-fungible contracts are like trading cards over the internet. The
non-fungible contracts cannot be counterfeited or manipulated. This makes them
great for securing data over the internet.
How does this technology work?
"Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other." (Investoppedia)
What is a Blockchain?
A Blockchain is a network of computers all working together to establish trust. They establish trust by solving math problems. Each computer checks the work of the other computers, just to make sure they got it right. Once the math problem is solved, the online transaction/trade is authorized. Blockchains are the most secure way to manage online contracts/trades like non-fungible card (tokens).
How Do Buyers and Sellers Benifit From A NFT?
The non-fungible token market is very saturated. Everyone is
trying to hustle art pieces that really don’t hold value over the internet. Since
everyone can make and post art on the internet, there is little value. Our goal
is to pair this new technology with a physical asset that actually holds real
value in the real world.
Every NFT is unique, there are no replicas. That
means that this technology works perfectly to hold a shoes value and make sure
that its value is not counterfeit. Buyers will have zero reason to think a shoe
is counterfeit because the technology ensures that there are no fake luxury
goods in the market. Sellers will have their assets protected, meaning with the
proper care, the shoes will never lose their current market value when trading
on the market. NFT technology establishes trust between the two parties. This
means that shoe liquidity is now a trusted practice, where no one will ever be
scammed again.
Here's What To Expect From Your NFT
Our custom made NFTs are individually made for each pair of
shoes. Each NFT has an interesting abstract art piece in the background with a
boarder, resembling a trading card. In the center of the NFT there is a high-quality
picture of the shoes you authenticated. On the boarder, that surrounds the shoes,
there will be information regarding Shoe Size, Authentication ID, Order of
Authentication, Date of Authentication, and Style Code. Below the NFT on the
page there will be other information displayed like: a Bid and Ask Chart
(Displays what customers are willing to pay for the shoe and what sellers are
willing to sell the pair for), Number of previous owners, Number of Traffic the
shoe type receives on the FAX website, and many more features to come in the
future. All of this information is meant to assist you as you trade shoes on
the market. It’s time to start treating our shoes like assets, and now its time
to equip traders with the tools they need all in one place.
Short Video Explanation
