okaaay... so is my analogy in anyway similar to the concept of NFTs?
A little bit maybe but not much.
A fungible item is an interchangeable item.
Take a dollar bill for example. It is fungible. Give one of them to a friend and get another one in return and it makes no difference to either of you. The one you gave him/her is for all practical purposes exactly the same as the one he/she gave to you.
A non-fungible item is one that is unique and can't simply be replaced by another one.
Let's say you are lucky enough to own a genuine Stradivarius violin. It's non-fungable. Yes, there are other Stradivarius violins but they are all different and you can't simply swap one for another they way you can with a dollar bill.
But let's say you got scammed. Your violin came with a certificate signed and sealed by a renowned expert claiming it's a genunine Stradivarius. But the instrument is actually just a mass produced fiddle with little or no value. I suppose you can say the certificate is non-fungible but the violin certainly isn't. This is how NFTs all too often work and why I and many others tend to regard them as a scam.
Re: Can I mint and sell parcels as NFT?
Posted: Mon Jan 03, 2022 5:53 am
by Shandon Loring
After more research I better understand your answer Ilan. Very well stated, thank you.
An NFT only has value if someone is prepared to part with hard cash to buy the right to own it. Once they have done that their only way of recouping their investment is to find someone else that sees value in "owning" the NFT. It is this lack of actual intrinsic value that causes folks to regard NFTs with caution. The whole structure, and to an extent this applies also to crypto currency, has been likened to a huge Ponzi scheme where those involved have to consider what their chances are of selling on any intangible assets they have "bought" before the whole thing comes crashing down.
NFT is not secure and tamperable... see it more like a pyramid scheme.. the work of artists are being stolen, minted with NFT...
It is important to deal with the NFT space fairly. Also, do not miss the point that funds from the sale of pictures must be reliably protected. A wallet from en.cryptoprocessing.com/wallet can help with this.
Reply to topic author:
Yes, it is possible to create an NFT land using Kitely's ready-made sims. To do this you need to follow these steps:
Buy a ready-made Kitely sim. You can do this on the Kitely website or from another seller.
Create an NFT contract for your land. You can do this yourself or use a third-party service.
Secure your land into an NFT contract. You can do this using the Kitely Land NFT tool.
Once you complete these steps, your land will be an NFT asset that you can sell or transfer to others.
As for your plan to create an urban network with public land, it is entirely feasible. You can use ready-made Kitely sims to create city building blocks. Public land can be created using Kitely utility assets such as parks, plazas, or streets.
If you want to live on the ground floor, then you can purchase a Kitely sim, in which the first floor is already occupied by another user. You can negotiate with this user to buy their part of the sim.
Re: Can I mint and sell parcels as NFT?
Posted: Wed Dec 27, 2023 1:26 pm
by Hazel khan
Hello everyone
Of course! As NFTs, which stand for distinct virtual real estate, you may mint and sell lots.top follow Through the use of blockchain technology, every parcel is transformed into a unique, tradeable commodity in the digital space, ushering in a new era of investment and ownership.
