Last year saw a huge focus on fungible tokens such as bitcoin and Ethereum, however non-fungible tokens (NFTs) are the next phase in crypto say the co-founders of CryptoKitties.
Coincast caught up with Benny Giang and Arthur Camara at the NIFTY Conference and Hackathon in Hong Kong this week with the co-founders declaring the non-fungible space was a much bigger market.
“Everyone talks about bitcoin, Ethereum, cryptocurrencies and altcoins but there’s just not enough talk about non-fungible tokens which equate to the digital assets of the digital world,” said Giang.
Camara highlighted there is already real-world applications of NFTs, such as cash, fiat and property and that bringing these items into crypto is a natural progression.
“Everything we interact with in real life; most things are non-fungible, they’re unique. So everything that you see that is unique in nature, could be a non-fungible token,” said Camara.
Giang announced CryptoKitties would be conducting an airdrop at the event, a first for the company where 500 of the companies NFTs will be distributed to conference attendees.
“We wanted to give back to the community because we’ve never done anything like this before where we’ve given out Kitties,” said Giang.
The Kitties are unique NFTs and vary in value from US$5 to US$140,000.
“For us, non-fungible tokens are representing the other side of assets that you can own, but digital,” said Giang.
CryptoKitties has partnered with HTC to make its tokens available on a small selection of the company’s smartphones starting with the U12+ and later on the Exodus.