What is an NFT?
NFT stands for Non-Fungible Token, which could be translated as a unique digital token. This means the token is not interchangeable with another one; each has its own unique value and characteristics, making it distinct. This unique value proposition of NFTs underscores the importance of each token and its owner.
What does a token mean in blockchain technology?
A token represents a digital unit with a specific value or right within the blockchain ecosystem. For example, our SNC-token is used to pay for electricity and solar energy products.
NFTs are stored on the blockchain, a digital ledger that records all transactions and ensures data security. Blockchain is also used to verify the ownership and uniqueness of digital assets. The token’s non-interchangeable and unique value is rooted in the relationship between the token and the underlying asset.
When you create or purchase an NFT, the blockchain network records the transaction linking your digital token to a specific digital object (e.g., virtual solar power plant). This record ensures that your asset ownership is verifiable and traceable, even if the object is copied and distributed in the digital world.
The essence of NFTs lies in their non-fungibility and uniqueness, with each token representing something special and distinct from others. The links to NFTs are unique, and their ownership and authenticity are strongly tied to the NFT owner, even though they are visible to others.
Advantages of NFTs:
- Proof of ownership and authenticity: Easy verification of ownership and origin, reducing the risk of counterfeiting and copying – ownership is managed with a unique ID and metadata, making it impossible for other tokens to replicate.
- Direct connection with creators: By selling without intermediaries, creators have more control over sales and earnings, empowering them to fully benefit from their creations.
- Transferability and liquidity: Stored on the blockchain, NFTs can be easily transferred between users and traded on various marketplaces and platforms where allowed.
What can an NFT represent?
Beyond our digital artworks, NFTs can represent many digital items such as music, videos, collectible cards, video game items, domains, and digital memories. This versatility makes NFTs applicable across various fields, from art and culture to collectibles, fashion, and virtual real estate, sparking curiosity about their potential uses.
Because NFTs enable the verification of ownership and uniqueness of digital items—something that was previously difficult (it was easy to copy digital art, but ownership was unclear)—they are highly significant in the digital world. With NFTs, an artist or owner of digital art can prove that their work is unique and that they are the rightful owner of the artwork.
NFT vs. SFT
NFTs represent unique assets on the blockchain, each with its own metadata, making them distinct. SFTs (Semi-Fungible Tokens) are tokens that begin as interchangeable but become non-interchangeable once certain conditions, like redemption or use, are met. They are often used for tickets to games or events where interchangeability is needed initially, but they are later transformed to track individual ownership or use of a specific item.
The Token Standard SFT on the Ethereum Blockchain: ERC-1155 allows one smart contract to contain interchangeable and non-interchangeable tokens, offering support for multiple tokens, batch transfers, improved security, and optimization of blockchain efficiency.
| Aspect | NFTs | SFTs |
| Fungibility | Non-fungible (unique) | Initially fungible, can become non-fungible |
| Applications | Art, music, collectibles | Gaming, ticketing, hybrid use cases |
| Value | Value tied to rarity/desirability | More liquid initially, value tied to fungibility |
| Examples | Digital art, collectibles, proof of ownership | Tickets, in-game currencies that become unique, vouchers, etc. |
NFT Tokens by SunContract
We were the first to combine blockchain, expertise in solar energy, and NFTs, offering individuals incredible opportunities. Our tokens represent real solar panels, meaning their owners support a sustainable and green future while earning a daily income.
By purchasing a token representing a solar panel, you secure your own renewable energy source without having an actual solar plant at home. Our NFTs allow you to enjoy all the advantages of a solar power system without worrying about physical ownership or maintenance.
The sunlight captured by our solar power plant will be converted into SNC tokens, which will land in your digital wallet. This enables short-term and long-term investments – you can pay electricity bills, expand your token collection, or cash out.
Watch our video and learn more about SunContract NFT tokens:
Why We Created Our NFTs
We created these NFTs for you because we believe everyone should have access to clean energy and the freedom to make independent decisions. Energy should not be centralized; instead, it should be controlled by its owners. With this, we aim to promote sustainability and self-sufficiency in society.
Our mission is to establish a global energy marketplace connecting consumers and energy producers worldwide. This will benefit individuals and stimulate economic, social, and environmental progress.
Read our blog How to use our NFT marketplace and take a step toward a green future today.
We wish you a pleasant experience on our NFT marketplace and good luck with your first NFT token purchase. You can buy it here!
