So we'' ve covered some basics, we'' ve considered what are NFTs from a social reference perspective, when our NFT is from a sociological perspective. And afterwards we have even a little bit more and appearance and checked out NFTs from a technology viewpoint, exactly how they collaborate with smart agreements and the evil. And also ultimately, in the last area, we explored marketplaces. Given that we are developing an NFT market, it'' s essential to recognize at the very least the very basics of what constitutes an industry. So we ought to really feel respectable about those fundamentals prior to relocating ahead. Thinking that we do, it'' s now time to have a look at the NFT r 721 tokens. So what is the E. R. C 721 criterion? And I wish to turn your focus over to once more our crypto kitties because we'' re going to use them again. As a recommendation, we discussed how in the previous section that CryptoKitties are their very own NFTs. They have a marketplace where you can acquire as well as market, however they'' re really much more unique than that.They do even more than that. And for those of us that understand, we know for those that put on'' t where we are about to uncover. So in 2017, the video game CryptoKitties, the game since actually CryptoKitties is a game as well as it'' s a video game which showed just how non-fungible possessions can be made and traded on the Ethereum blockchain. So how does this game work? Well? Players can reproduce and trade Felines. All right. But most importantly, most importantly, all the Kitties exist on the blockchain and also can only be reproduced or traded by the player who has them. So these felines, they exist on the blockchain, and also if you wish to breed them, if you want to breed them, after that you have to own one.You have
to be able. You have to have one. So allow'' s compare a traditional online game, right, and also a standard on the internet game. I put on'' t recognize if you ' re a gamer or not, whether it'' s World of Warcraft or it is some sort of gambling establishment gambling application. All right, these on-line video games save information on a central web server, as well as the admins of the video games are able to make changes nevertheless they choose. All right. However in CryptoKitties, in CryptoKitties, gamers deal their Cats on a decentralized and trustless network. All right. So the ownership of their Felines are irrefutable, are irrefutably, are irrefutably conclusive. If I possess a cat, it doesn'' t matter. It doesn ' t issue what you try to do or state. You can be the Guardian. You might be the New York City Times, New York City Times and also claiming, Hey, this person doesn'' t have a kitty NFT, yet the blockchain will state otherwise.It will certainly say or else. It doesn ' t matter if you are the head of state of whatever.