Non-fungible tokens (NFTs) will be key in the asset tokenization movement. In many scenarios in the cryptocurrency and blockchain sector, tokens are meant to represent money, but in other cases, they can represent actual physical things or even abstract things such as art or identity. Experts have called non-fungible tokens a huge leap forward that could change a number of industries.

Gaming tokens and collectibles, digital ticketing for sporting events, festivals and concerts, and identification processes such as diplomas and drivers licenses will all be issued as non-fungible tokens soon.

CryptoKitties

CryptoKitties is a blockchain-based game where players can buy and collect virtual cats. You can also breed, trade and sell the CryptoKitties for unspecified amounts of money based on rarity and demand. Each kittie is completely unique and can’t be replicated or destroyed. Some of the virtual cats are sold for thousands of dollars and one even went for $170k, but the impact CryptoKitties has had on blockchain gaming and the idea of non-fungible tokens in general is beyond valuable.

PO8

Using non-fungible tokens, PO8 will tokenize billions of dollars worth of underwater artifacts surrounding the Bahamas. It is not that rare to hear about sunken treasure being found in the waters off the Bahamas. In fact, it happens all the time and PO8 intends to bring transparency to the identification and ownership of the sunken millions.

To achieve their goal of tokenization $100 billion worth of unseen treasure the company will deploy Remotely Operated Underwater Vehicles, or ROVs, to scan the ocean floor and identify the valuable goods. PO8 tokens will also allow fractional ownership and make the transfer of the items logistically smoother.

The vision of PO8 goes far beyond underwater operations. In fact, the team has a very close relationship with the government of the Bahamas and the two are working together to create a vibrant crypto tech scene in the island nation.

Decentraland

The Decentraland platform allows users to buy virtual land, represented by the non-fungible token LAND, and build whatever you want on top of it. This means if you own the virtual land you can build apps and upload other types of video and audio content inside the Decentraland virtual world and add to the value of your LAND.

Ultimately, Decentraland could provide developers with the opportunity to run with CryptoKittie’s founding ideas and create a groundbreaking new game on the blockchain.



LAToken

LAToken is a platform that lets you tokenize tangible assets such as gold, real estate or even precious artworks. thereby making them sellable in fractional parts. The token that powers the LAToken platform is the LAT. But users first buy liquid asset-backed tokens or LABT. LABT is backed by publicly traded assets like stock shares or bonds.

These assets are then converted into LA tokens which can be traded for any of the other assets that are available on the platform. By offering tokenized shares of sought after stocks like Apple, Tesla, Google, and coveted physical assets like oil, metals and real estate, LAToken hopes to become a household name soon.

