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NFL will have NFT cards with Panini for the first time

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The NFL and Panini announced the launch of the first Non-Fungible Tokens (NFT) as exchangeable cards of all the players in the league as of December 1, which is an alternative for fans who like to collect stickers with the new digital trend.

“Trading cards have seen a remarkable resurgence in popularity and it is the right time to launch our first NFT cards in collaboration with Panini“, affirmed leaders of the National Football League.

These digital cards will be available on the private platform blockchain of Panini, where fans can purchase the NFL NFT in a virtual envelope or one by one. In addition, people will be able to put up for auction special cards that they obtain on the platform.

What is an NFT?

The acronym for NFT significan Non -Fungible Token, a non-fungible token. Tokens are units of value that are assigned to a business model, such as cryptocurrencies. We can think of cryptocurrencies as a store of value, something akin to gold. You can buy and sell gold, and when the number of buyers increases the price rises, to go down when this number of buyers decreases. It is a behavior equal to that of cryptocurrencies.

But gold in the end is gold, and you can exchange one nugget for another without problem. However, there are other goods made of gold that also have a value, but are unique, and that fact makes a difference and gives them another type of value. Like that value made with gold or a work of art, NFTs are unique assets that cannot be modified or exchanged for another of the same value, since there are no two NFTs that are equivalent just as there are no two frames that are.

Therefore, you can think of an NFT as a great work of art, like Da Vinci’s Mona Lisa. There is only one and it is in a specific art gallery. If you want it, you can only buy the original if it was for sale. You could also get a copy, but it would have another value, since it would not be the original. Well that is exactly what the NFT does, but digitally. For this reason, NFT are usually attached to some digital works or illustrations, in this case the NFL trading cards. (With information from Engadget)

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