can be developed for instant delivery against the payments with

tokens.

A crypto token can be of two different types, i.e., fungible token and

non-fungible tokens.

Fungible tokens are like Bitcoin or any other cryptocurrency where

every crypto has a similar value.

Non-fungible tokens or NFT are again crypto tokens, where every

token is unique and has a different value or asset associated with it.

Hence, unlike fungible tokens, NFTs cannot be replaced with each

other. NFT gives us the power to trade unique verifiable digital

assets on Blockchain.

While the NFT craze started only in 2020, by the first half of 2021,

it has reached $2.5 billion.

With a combined use of fungible tokens (or fiat cash) and NFTs, we

can solve many of the frictions in the BFSI sector that has been

there since ages. Most deliveries against payment use cases can be

automated without the need of intermediaries resulting in a reduction

in time, efforts, and expenses. Some of the novel use cases that

these tokens can help in are as follows:

Instant International Money Transfer

Instant Settlement in Capital or Money Market

Hedge Funds, Private Equity, Venture Capital, P2P Debt

Loyalty programs in Travel, Insurance or retail

18.1.1 NFT Craze for Digital Contents

NFT is the latest craze in the Blockchain and DLT space. Nowadays,

many celebrities are declaring NFT on their name. What does this

really mean and how do such NFTs work?

These NFTs that are making the headlines are mostly used for the

selling of arts in various forms and also to pass on the digital

ownership. However, do we not own our digital contents already?

Why do we need an NFT for that?