⭐Overview

Terratories NFT is an experience we have created that takes a pinch of fantasy and adds it to the modern world. History is drenched in many mysteries, and we may never utterly understand why particular events took place or the reasons things became what they have become. We have taken the opportunity to look at some of these historical events, produce some of our own explanations, and provided the foundation for a saga to be constructed on the basis of this new innovative piece of technology called blockchain.

Blockchain in its simplest terms is a public ledger. Information, data, and proof of ownership can all be sent across this digital public ledger by various means of confirming transactions. There are many blockchains in existence in the world today. Some of these examples include Ethereum, Flow, Solana, WAX, Avalanche, and Cardano. Each of these blockchains have their own means of confirmation, but essentially once this verification process is accomplished, a record is created on the blockchain that will forever be blazed into the architecture. Anyone will be able to go back to review transactions, view how assets move around, but, most importantly, show ownership of an asset on the chain.

There are two types of tokens that move through blockchain, fungible and non-fungible. Fungible Tokens (FT) are related to coins and currency exchanged across the chain. They might serve as the language of a particular blockchain where, to execute a transaction, the currency must be spent, or they might be a stable coin constructed to maintain an equal value to fiat (USD, EUR, JPY, etc.) currency. They are the coins you would find on an exchange and swap for other coins.

A Non-Fungible Token (NFT) would represent a unique string of letters that is tied to a digital asset. This could be a picture, a GIF, a video, anything that would not fall into the FT category. The innovation of blockchain technology means digital goods created, procured, earned, etc. can fall under the ownership of an individual and denote where it originated, who had possession, and if there was any monetary value involved in its exchange.

To summarize and provide a simpler explanation -

• Fungible Tokens: Cryptocurrencies.

• Non-Fungible Tokens: Units of data that represents a digital asset tied to the blockchain.