What are The Octo NFTs?
Last updated
Last updated
NFT stands for "non-fungible token".
Let's start at the beginning: what does non-fungible mean?
The adjective “fungible” is an economic term that refers to a good or an asset that can be exchanged for another good or another asset of the same value. For example, a dollar bill is fungible because it can easily be exchanged for another dollar bill of the same value.
A "non-fungible" item cannot be exchanged for something of equal value. A parcel of land is non-fungible, since each piece of land has its own characteristics, and finding another parcel with exactly the same value is difficult, if not impossible. Art is another example of a non-fungible asset, since its value is highly subjective. This is where NFTs come in.
An NFT guarantees exclusive ownership of a digital asset. You can buy an NFT at a certain price, but the fact that it is non-fungible allows its market value to fluctuate.
The Octos NFTs is an NFT collection based on the Solana blockchain and is usable within the OCTO app.
Each Octo NFT has one actionnable power for a unique game in our mobile app.
The power can be used only once per game and only one NFT can be selected per game.
Each usage of power consumes a portion of the health bar, until the health bar goes to zero. Users can recharge it by simply top up in OCTOKN.