Why Your NFT needs Xinfin: The Non-Fungible Cash Standard

Non-Fungible Tokens, NFT, refer to tokens whose value is unique and different from others with the same properties. They are indivisible. A house or picture, piece of art, etc. are examples of Asset classes that are tokenized as NFT. NFTs are core to blockchain gaming and even Defi as they begin to grow in market capitalization. According to Coinmarketcap, the NFT market capitalization is about $2.5 Billion. December 2021 recorded the highest NFT sale of $91.8 Million for Pak's- The Merge NFT. There is only speculation as to the potential greatness of NFT on an efficient and viable blockchain as Xinfin.

The Basel committee's oversight body has approved that Banks will be able to have 2% exposure to crypto assets come 2025. What better layer1 blockchain is suitable for the Tokenization of assets if not a blockchain that is primarily designed for such- Xinfin blockchain?

Even physical cash and coins can be Non-Fungible.

Physical Cash and Coins as Non-Fungible. Physical NFT

Coin collectors know of a surety that no coins or physical cash are fungible or the same as any other. Simply because of the attribute of each coin or paper money. It is undisputed that each physical cash carries a unique number and other attributes such as dates and signatures. For collectors, rare coins or cash carries sentimental values which many can agree on. Transparency Market Research stated that coin collection is done with a projection of high demand:

“Coin collection for business purposes involves coins of rare metals. Coin hoarders collect such coins in abundance and hold them until the demand is high. To narrow the focus, the collector usually focuses on a particular period or nation and gathers the coins. Some collectors look for error coins and artistic coins, while some collect them all in general.”

While a general market capitalization has not been attached to this industry, James Royal from Bankrate reported that the 1974 Flowing Hair Silver coin was sold at an auction in 2013 for $10 million. And there are about 120-130 of them remaining out of approximately 1800 produced.

Does this sound like a physical NFT? Oh yes, sure it does. Are there platforms that do this currently? No, I don't think so. NFTs are perfect for this asset class because they allow owners to input details or attributes of each coin in the smart contract. A better