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7 important things you should know about the New Trends in NFT.

by with 2 Comments Technology

Craze behind NFT continues to flourish persistently. It just started in the previous year and NFTs started to conquer the world by becoming the talked topic of the town. Based on the Chain Analysis report, NFT witnessed profits that crossed over $27B at the end of 2021. 

Now, NFTs upgraded to its next better version and it is quietly referred to as “Version 2.0”. Next phase of the NFT begins by creating a hype among the business freaks and industrialists.  As NFTs have become a favorite exchange asset in the modern day, consider a business in the upgraded version 2.0 can meet the demands in the future. 

What Is NFT 2.0?

NFT 2.0 is the big evolution & in nutshell it is the next version of NFT 1.0. It is introduced with a motto of taking NFTs to the next level by introducing rare features to the NFT assets. By NFT 2.0, more utilities to NFTs can be added by creating digital NFT assets. NFT 2.0 welcomes users to enjoy smart and realistic NFTs in our market. 

NFT 1.0 Vs NFT 2.0 
 

S.NoNFT 1.0NFT 2.0 
1No provision to interlink with multiple NFTsAllow interlinking of multiple NFTs
2NFTs cannot be upgraded to next as it cannot be modified at any costModification of NFTs is possible by adding Metadata
3NFTs cannot be connected with each other for following commands like modificationIt allows NFTs to offer commands to each other for later executing changes on its functionalities
4No co-ownership provision of NFTAllows multiple ownership for a single asset
5NFTs cannot be rentedNFTs can be rented for improving liquidity
6It could not be customized for a better outlookIt can be customized easily for enhancing it’s output
7Less dynamic with less featuresMore dynamic with more features
8Possibility to have risk in futureNo risk as it is difficult to hack
9Creating high quality projects is less when compared to version 2.0Creates high quality NFT projects
10No passive income can be earned as NFTs cannot be rentedPassive income can be earned by NFT rentals

7 things you should know about the New NFT Trend

Customized NFTs
NFTs in 2.0 is designed in a way that it can be linked to multiple designs. In real time if a user accesses a book then the NFT 2.0 shows the relent design of the book accordingly.  

Smart NFTs
Smart contracts can be linked quickly with NFT 2.0. To be precise, if ownership of the NFT is changed then the NFT 2.0 has the capability to change the ownership of the NFT in blockchain with the support of smart contracts. 

Co-owned NFTs
Now it is possible to claim for a double ownership for the single asset. Multiple ownership can result in building trust among the users on an asset. 

Nested NFTs
NFT 2.0 allows infinite nesting of an asset, which means one NFT can own another NFT. It allows one NFT to own another NFT and it can have sub-ordinate NFT and so on. It will be more useful in gaming, art and metaverse. 

NFT Rental Model
NFTs can be rented for earning passive revenue. It constantly improves liquidity and it makes NFTs much smarter, adoptable and reliable for the users. 

Multi-resource NFTs
NFT 2.0  has a potential to link with multiple resources like image, video, audio, art and so on. 

Reactive NFTs
Based on a certain set of conditions the NFT reacts accordingly. Thus it serves for different purpose.

NFT DAOs
NFT 2.0 is associated with NFT DAO. Since NFTs are costly DAO functionality is interlinked to reduce cost. 

Characteristics Of NFT 2.0 

Generativity
NFT 2.0 offers great opportunities to grow in the future as NFTs will be more relatable and accessible for people. AI will do this by offering a personal suggestion for a user.

Composability
With NFT 1.0 a one-to-one exchange is done but customizing an asset does’nt happen. NFT 2.0 allows quick customization of an asset for developing a new personalized asset. 

Interactivity
It makes NFTs more interactive and smart as it can take input from the people. Based on the set of commands and input feed the NFT upgrades itself from one version to the other. 

Experientiality
Delivers enriched user experience for the users as NFTs offers advanced utilities to the NFT holder.

NFT 2.0 will be a big thing in the year 2022. The technological advancements and headlines shows it has become a trend among the NFT circle. Even today NFTs have become a part and parcel for everyone and its growth is evitable in the upcoming days. 

To enhance its growth more and more, the new features are introduced in version 2.0 like NFT interlinking, upgrading, and dynamism. It makes NFTs better from the previous version and now it’s trending among the NFT enthusiasts. 

Power Of NFT 2.0 In Influencing A Business

NFT evolves! Why not you?
Surge and popularity of NFT 2.0 results in generating passive income for the NFT owners. Many business freaks has taken a step by making a footprint in developing multipurpose NFTs. Any creative asset can be created that serves distinct usage. It is time for you to flourish with NFT version evolution by upgrading your business to the next level. 

Inquire more with our team & get our constant support!

Artificial Intelligence

Artificial Intelligence and its impacts on our everyday life.

by with 3 Comments Technology

Artificial intelligence has seamlessly blended with our everyday lives while our perspective of artificial intelligence remains constrained to only robots and big machinery.

Let us have a walkthrough of a typical lifestyle of a normal individual as:

  • You wake up in the morning and start your day by unlocking your smartphone with either facial recognition or a fingerprint scanner.
  • Then, overlook the personalized and location-based weather updates for the day.
  • Scroll a little through the social media apps which again provide a personalized experience with personalized ads and feed set according to your likes and dislikes.
  • After a while, go through emails that have gone through filters such as spam, priority, or urgent.
  • You book a cab on an app or drive to work with maps that help you navigate through the traffic with the fastest route possible with real-time updates.
  • Send a couple of messages or emails that have been auto-corrected
  • and prepare a list of things to watch or enjoy for the approaching weekend by searching about them. Recommendations and search algorithms also adjust and suggest according to your tastes.
  • You even make digital payments for the checkout and seamless transaction.

These everyday life actions are taken that seem so simple and a routine is nothing but Artificial intelligence working at your fingertips providing you with the best possible online experience.

Artificial intelligence works seamlessly in the background making all the transactions and online experiences of today possible. So, how does it even work?

Making Artificial Intelligence possible

Artificial intelligence is the simulation of human intelligence by machines. Machines can think and learn like humans and display cognitive intelligence. It helps in problem-solving and decision-making processes that require complex and huge data set analyses and study.

It is a canopy of multiple technological advancements working together seamlessly to bring out artificial intelligence. It is the working of constellations of various aspects to enable the machines to think, sense, comprehend, learn and act like humans.

The most critical components of artificial intelligence include the following that makes everything possible:

  • Machine Learning [ML]: Machine Learning refers to the computer algorithms and programs that improve and learn from past experiences, data points history, big data analyses, and without having to explicitly program the computer on how to perform the given task. Machine learning works on models and algorithms that are constantly improving from the experiences and results. One of the prominent applications includes internet search engine results which learn from past searches and deliver personalized results every time. It is dependant upon the analytical model building.
  • Natural Language Processor [NLP]: the language that we speak and type is known as a high-level language that cannot be comprehended by the computer program hence, natural language processors act as an interface between the user and the computer. It helps comprehend the language used and convert it into low-level language and helps in delivering accurate results. Email filters, search engines, chatbots, and voice assistants are some of the most basic examples where NLP is used excessively.
  • Deep learning: One of the most extensive parts of artificial intelligence where the brain-like logical structures of algorithms are formed called artificial neural networks. Traditional machine learning systems are linear whereas the deep learning methods create a canopy of networks and connections between various characteristics and deliver an intricate and comprehensive report. Deep learning clusters data sets to make incredibly accurate predictions.

Understanding to above components of artificial intelligence helps us understand its applications and everyday functioning. Some of the applications that have found a valuable marketplace of their own include the following:

Digital Voice Assistants:

32% of executives say that voice recognition is the most widely accepted AI technology in their business today. This number reveals that voice recognition is finally getting its much due recognition.

To put it quite plainly, digital voice assistants are computer software and program that gets activated when they hear a voice command. Some of the popular voice assistants are Google Assistant, Alexa, and iPhone’s Siri.

They work on the voice commands and here the natural language processing comes in handy. It helps decrypt the voice command and understand what is being said to deliver accurate and personalized results.

These also involve machine learning algorithms as constantly improve themselves upon every use. It is an advanced computer program that simulates a conversation.

Digital voice assistants are complex and often solve multi-tasking problems that require data from multiple sources to deliver accurate and precise results. In 2019, nearly 40% of the U.S. population used voice search.

Hence, one of the best ways to create your digital voice recognition systems is to have one built personalized according to the needs and wants of your organization. One of the easiest and hassle-free builders is Queppelin.

Providing extraordinary services backed with on-time delivery, pocket-friendly projects, and technology that has no match for. With online support guiding your every step and helping your organization to reach the next level. A personalized digital voice assistant helps in improving employee productivity and seamless communication systems. As Gartner predicts that by 2023, 25% of employees’ interaction with applications will be voice-based. Digital assistant usage worldwide is expected to double to 8.4 billion by 2024.

Artificial Intelligence

Chatbots

Have you ever wondered if you could have an employee deployed at your front desk or customer service portals all the time 24×7 and never get tired of, well this is possible with the integration of chatbots into your websites and applications that the consumers use? 80% of marketers in 2020 already had chatbots as part of their customer experience strategy.

Chatbots are organization-specific software designed to handle queries of the consumers or even employees within the organization to deliver on-spot answers, information that is updated in real-time, and tailored answers. The major benefits of chatbots are 24-hour service (64%), instant responses to inquires (55%), and answers to simple questions (55%).

They make use of artificial intelligence, and natural language processors to comprehend the given query and deploy machine learning to constantly improve the quality of answers provided. According to Comm100, chatbots can handle 68.9% of chats from start to finish. Hence, they can provide quality and instant answers to the consumer’s queries.

Chatbots are predicted to save businesses $8 billion by 2022 and 2.5 billion hours by 2023.

With time and money in your pocket, you can take your organization to newer heights. So, do you want to get the chatbot technology right? Integrate it seamlessly into your current systems without any hassle? We are here to help.

Strategizing plan that is tailored around the needs and requirements of the project. Taking a personal interest in the development of the framework and implementation of the plan equipping with the right technology that fits the bandwidth of the given audience and demographic is something that makes us unique and helps us deliver more than technology, we deliver quality.

Music Genre Classification:

Music contains various tones, undertones, beats, and frequencies that make the classification of the same difficult if not impossible. To classify the music, computer algorithms use deep learning and analytics to understand the pattern playing over the spectrometer. Such technology is used extensively by Apple Music, Spotify, or SoundCloud to classify the songs and create playlists for the listeners.             

How personalized can the songs be created into the playlists or how accurately the songs are categorized directly results in the success of such platforms. And this technology can be easily created with the right technology from Earnlytical. Instead of starting from scratch and developing models that require special teams, we at Earnlytical deliver products that are already built to suit your needs. You can instantaneously sky-rocket your success without spending a fortune on the development of the product.

On-time delivery with the best in quality and personalized products that are ready for use and boost.

The above were some of the prime examples where Artificial Intelligence has been implemented and has garnered success. Other sectors of the industry where artificial intelligence have been used and run are as follows:

  • Manufacturing robots.
  • Self-driving cars.
  • Smart assistants.
  • Proactive healthcare management.
  • Disease mapping.
  • Automated financial investing.
  • Virtual travel booking agent.
  • Social media monitoring. And much more!

Start with the right

We at Earnlytical deliver personalized products and quality experiences that are sure to skyrocket your business and organization as a whole. Whether it is for improving your employee productivity or staying on toes at the front desk, artificial intelligence can help you leverage your potential to its paramount and deliver quality to your audience.

We offer products and services that can be easily integrated into your current systems and work seamlessly in the future. In 2022, companies are expected to have an average of 35 AI projects in place. what are you waiting for?

Crafting personalized products and services every day.

Crafting quality, forging everlasting partnerships for the future.

Web 3.0

Web 3.0 Explained | Features, Advantages & Comparison to Web 2.0

by with 2 Comments Technology

The world around us is changing at an increasing rate. And many futurists believe that we are at the foyer of the future that we always imagined. And the credit to this goes to the game-changing technologies like Blockchain, DAOs, Virtual Reality, Augmented Reality and many more.

These are rapidly evolving and laying the foundation of this coming tomorrow. It is the future that caught our imagination in various Science-fiction movies wherein technology is intelligent, well-connected, decentralised and automated.

Today we will talk about one such futuristic technology that will form the linchpin of all these developments – Web 3.0. Also known as Web3 or the Semantic Web.

What is Web 3.0?

Imagine you are returning to your home in your self-driven car after working hard the whole day at the office. You are very tired and can’t wait to reach home. As soon as you reach closer, the garage gate automatically starts to open. You park your car and move inside your home. The lights turn on by themselves, the temperature of the house is automatically set to your preference.

The voice of an Intelligent Virtual Assistant (IVA) asks you about the day and what you would prefer to do now? It suggests some of the options depending on your day and mood. You choose to go for your usual drink and watch television. The drink is getting prepared, meanwhile, you sit on the couch. The TV is turned on with your favorite show and you just can’t get enough of it. What a way to end a hectic day.

Do you know what technologies have enabled these functions?

All these developments are a result of our information system attaining intelligence with the help of technologies like Artificial intelligence and Machine learning. This information system understands your personality and preferences and works in accordance.

For example, if you are a motorcar enthusiast and want to see a show about Jaguar, it doesn’t show you something about the animal Jaguar. This is what Web 3.0 is at its peak in the future.

It is the intelligent information system that works in tandem with other technologies such as the Internet of Things (IoT) in the future, to give you the life you always wanted. 

So, to discuss the definition of Web 3.0, it is the third iteration of the internet that would be able to think like us. Like, it would not only able to understand the meaning of the words but also the context, sense and emotions behind them. 

And it doesn’t end there, the new version of the internet will be based on a decentralised ledger technology, commonly known as blockchain technology. The technology will bring the aspect of decentralization into the system and allow the user to have control over their data. This is stark opposite to the current version of the internet, known as Web 2.0, wherein the data is centralized and controlled by a few tech giants.

Thus, you can say, it will possess human intelligence to understand the context and act accordingly. Moreover, Machine Learning helps it improve itself consistently. Understanding its feature will help us get a better hold on this concept.

Features of Web 3.0

  1. Decentralization

    This is the core feature of Web 3.0. While, today in Web 2.0 the data is store at a particular location or server that is property of a certain organization. This leaves the control of that data in the hands of that organization, which can use it for profiteering. Thus, jeopardizing the privacy of many. This is one of the main drawback of Web 2.0 that Web 3.0 seeks to do away with.

    Since Web 3.0 is based on blockchain, a decentralised ledger technology, which stores data multiple location, it will also result in distributed data storage simultaneously. This will give the user complete authority over their data and protect their privacy.
  2. Trustless & Permissionless

    In the context of Web 3.0, being trustless is a positive word. This is because, the network will allow the user to interact with it directly without requiring any intermediary. Thus, they don’t need to entrust anyone with their data before putting it on the network. They can do it on their own and keep it safe with the help of unbreakable blockchain technology.

    Similarly, the users do not need to acquire permission from anyone before interacting with this network. This makes them permissionless.
  3. Semantic Web

    This is one of the most prominent improvements in Web 3.0 over the preceding versions. It would not only work based on the keywords the user puts in but also understands the underlying context.

    Thus, it produces the results according to the sense of the search and not just the keywords as it’s being done in the current version i.e. Web 2.0. Like we said above, it understands the difference between Jaguar the car and Jaguar the animal.
  4. Artificial Intelligence

    The next big improvement is the utilization of Artificial Intelligence. With the help of AI, Web 3.0 would be able to understand data as we do. And this will change how we interact with the digital world, given that it will also include Natural Language Processing(NLP).

    Thus, the AI in Web 3.0 would be able to identify ambiguity or abnormality in data and pinpoint fake reviews or rigged ratings to remove them to keep the authenticity intact. 

    Moreover, with the help of Machine Learning, it will keep on improving itself and give better results everytime.
  5. Spatial Web

    Web 3.0 will also deal extensively with 3D graphics, that is why many futurists also call it Spatial Web. This will enhance the immersive experience of the user to the manifold, for example, the user would be able to see the product on an e-commerce website in more clearer manner.

    Similarly, Museums would be able to give an online tour or showcase their distinguished artefacts to attract visitors. Likewise, it can be utilised in healthcare, education, real-estate you name it.

    Hence, the opportunities are boundless with the amazing 3D experience Web 3.0 will be able to offer to blur the line between the physical and the digital worlds. 
  6. Connectivity

    This is where the above example of IVA will start to take shape. The connectivity will be in two forms. First, the connectivity between the information and second connectivity between machines for example Internet of Things(IoT). 

    The first form of connectivity will be a result of AI. The reason, since this information system will itself understand the information, it will be able to juxtapose related information to present more productive results.

    The second form of connectivity will be caused by two factors: 
  • Enabling technologies like Cloud Computing, Robotics, Big Data
  • Mushrooming on Automated machines that can connect to the internet

    These two factors will transform the interaction between humans and machines. And the common thread that will connect all these developments will be Web 3.0.

    This will take the connectivity aspect of Web 3.0 to unprecedented levels. And usher in the high-tech future. And this takes us to another feature.
  1. Ubiquity

    This will be a result of a higher extent of connectivity in Web 3.0 making it ubiquitous. Although, Web 2.0 is ubiquitous but upto a limited extent for example only certain sites allow you to access your data from anywhere in the world. And this data is solely controlled by the organisation managing the website. 

    Web 3.0, along with its trait of decentralization, will take this feature to another level. The data will be accessible from around the world. Not only the data will be accessible to the user from anywhere in the world. The user would be the sole owner of their data.

Comparison between Web 1.0 vs Web 2.0 vs Web 3.0

Web 1.0 or the Static Web

It spanned between 1989 to 2005. It is called Static web because there was very limited interaction between the internet and the user. The information was very provided in a very straightforward and bland and access to it was very limited.

It was based on:

  • HyperText Markup Language(HTML)
  • URI or URL: Uniform Resource Identifier or Locator, 
  • HyperText Transfer Protocol(HTTP)

Also, the search engine only came into existence after 1995 and email and access to real-time informations was made possible. However, it was the time when few created the content for many. And this got changed in Web 2.0

Web 2.0 or the Social Web

This network was a great shift from its previous version. Not only it was way better when it came to interactivity and social connectivity. It allowed user to generate content and let it spread across the internet to other millions or even billions of users. That is why is also called the Social Web. Now, many were creating for many. 

The most noticeable development was the advent of social networking and interactive applications. This facilitated the emergence of tech giants like Facebook, Google, Twitter, Youtube etc. These giants gradually attained dominance on the internet by controlling its access and usage of the data over it.

Further, its growth got fueled by technological advancements like mobile phones and open source software’s like Android. These open source software led to development of millions of mobile-based software application that expanded the utility of internet to exponential levels.

Web 3.0

Comparing to the above two versions of internet, Web 3.0 is based on the principles of decentralization, directness, privacy protection and permissionless access etc. and will offer the obvious purpose of greater utility.

Thus, it will give the user more authority over their data. And this will curb the data usage of the users without their permission which is the most talked about disadvantage of Web 2.0. 

As envisaged, it will take the bottom-up approach in which the users will guide the direction it would take. Moreover, the features that we discussed above like Semantic Web, Artificial Intelligence, and three-dimensional graphics etc will offer even more utility in Web 3.0. 

The below mentioned table represents a quick comparison between Web 2.0 and Web 3.0.

Web 2.0 versus Web 3.0 – An approach to the metaverse

FeaturesWeb 2.0Web 3.0
Organizational Structure Centralized Ownership & Control
 Decision are by the shareholder of the controlling organization		 Decentralized control and ownership by community
 Native tokens holders carry out governance and decisions are consensus-based
Data Storage Centralized storage on specific location Decentralized storage on multiple locations
Platform Format PC/console 
 VR/AR hardware 
 Mobile/App		 PC 
 VR/AR hardware
 Mobile App in coming times
Payments Infrastructure Traditional payments methods such as Credit Cards, Debit Cards, Netbanking, etc.
 Virtual currency limited to that platform		 Crypto wallets
 Cryptocurrencies & Tokens circulated across platform
Content Creators Game developers Community member
 Game developers
Portability Of Digital Assets Within the particular platform Can be transferred to different platforms
Ownership Of Digital Assets Within the platform where purchased Portable as owned by the user through Non-Fungible Tokens (NFTs)
Identity Avatar created on a particular platform
 Non-interoperable		 Interoperable self-sovereign identity 
 Anonymous Private-key
Revenue Models Revenue shared by selling platform and the creator/developer Developers/creators directly earn revenue
 Users earn through participation in activities including governance
 Royalties earn by NFTs creators on secondary transactions
Participation Methods Socialization 
 Gaming		 Play-to-earn game
 Experiences like concerts
 All Web 2.0 activities
Example World of Warcraft 
 Second Life
 Fortnite
 Roblox		 Decentraland
 Cryptovoxels
 Somnium Space
 The Sandbox

Advantages of Web 3.0

Ownership of Data

Under the Web 3.0 setting, the user gain the ownership for their data and the privacy is protected by encryption of the data through blockchain technology. Therefore, this data can only be utilised by any third party after getting permission from the user on need or case by case basis.

Ubiquitous Information Access

Web 3.0 enables ubiquitous information access, which is quite limited in Web 2.0. This will be made possible with the help of smartphone application and cloud-based technologies. While in Web 2.0 users have to rely on an intermediary to access their own data, this will not be the case in Web 3.0 where there would be no intermediary.

Democratization of the Web

Web 3.0 provides democratization of the web as no central authority can dictate the access and restriction to its services. Neither can anyone stop it operation, it will be execute same functions in all the circumstance thanks to the architecture that is based upon smart contracts.

NFT explained

What are Non Fungible Tokens (NFTs)? – Everything You Need To Know

by with 3 Comments Technology

What Does DeFi Mean?

To your wonder, for the past couple of years, DeFi is captivating the blockchain era, and we have witnessed this growth once after the rise of numerous new cryptocurrencies in the marketplace. Well, it’s true, DeFi is meant to offer solutions for high demanded fintech industries by bringing it in a network that operates in a decentralized fashion.  Everything moving in DeFi (ie, exchanges & transactions) is really fast by further enhancing the network on a large scale. On another point of view, “Mass adoption” happens as people started accepting Decentralized finance projects/platforms, as it is making the DeFi user’s work simple in an effortless way.  DeFi matters a lot to the majority of the population in 2021, as people are getting adopted to a scalable platform that operates in online without the necessity of a central network. As DeFi promises to perfectly carry out the transactions on a massive scale, many DeFi projects are developed & introduced.  Some of them are PancakeSwap, UniSwap, SafeMoon, BakerySwap, etc,… In this article, we are going to explore one of the new concepts called “NFT” in DeFi. Let us get started! 

What are Non-Fungible Tokens (NFTs)? 

Non-Fungible Tokens (NFTs) is a popular digital asset that comes with a combination of real-world objects like collectibles, games, music, art, videos & more. This NFT can be brought in online and that too frequently with cryptocurrencies. Blockchain carries out the above entire operation as there is an increase in popularity & demand have raised in exchanging NFTs in the marketplace. The non-crypto audience is benefitted on a huge scale as NFTs is taking the digital world by storm. It is creating a big opportunity as this unique digital asset (NFTs) is developed on top of the Ethereum network. Buying and selling of NFTs are processed by smart contracts in this Ethereum blockchain network. 

How NFTs Differs from Cryptocurrency?

Certain characteristics of Non-fungible tokens make them distinct from other popular cryptocurrencies. Even though NFTs are programmed and coded like Bitcoin, Ethereum, Ripple, etc,.. NFTs are different. It has its own unique value and couldn’t be exchanged for any other cryptocurrency. The value of the NFTs also does not equals with any other, which means it is extremely unique and could be used for some specific purposes. 

Fungible Tokens Vs Non-Fungible Tokens

Let’s sort out the major difference between fungible and non-fungible tokens in brief.  

  • Fungible tokens are extremely interoperable and exchangeable as it can be exchanged with any other cryptocurrencies, whereas Non-fungible tokens are unique and couldn’t be exchanged easily like the above. 
     
  • Fungible tokens are divisible whereas Non-fungible tokens are non-divisible. It means fungible tokens can be divided into smaller units and the token value remains to be same, on the other hand, NFTs are extremely opposite to it.
     
  • Fungible tokens are same whereas Non-fungible tokens are different. Here, each and every token in fungible are different and comes under the same type, in NFT, each NFTs are identical and unique. 

NFTs & DeFi – Is It A Good Combination?

Many of us would haven’t heard this term. NFTs are called as a cryptographic token and it is not like the other traditional asset. These non-fungible tokens have it’s own set of unique value and it represents collectibles like digital art, or other digital items like music, games & more,…It is rare and it is most secured stored by following the cryptographic security policy.  It operates on the blockchain-based network and that too mostly on the Ethereum blockchain. That’s how NFT’s are combined with DeFi, as NFT comes under the major DeFi project popularly defined as a decentralized exchange platform development for exchanging NFTs. In this DeFi platform, real-world assets like NFTs are easily exchanged in a decentralized blockchain network. Thus, DeFi & NFTs work splendidly together. 

General Characteristics Of NFTs

Unique NFTs are unique and much distinct from one another. No two tokens in NFTs appear to look the same. This unique characteristic creates a center of attraction among many NFT users. Limited supply A token holder cannot have a stream of NFTs that holds the same value proposition.  Indivisible NFTs cannot be splitted into multiple units like bitcoin & other cryptocurrencies. This destroys it’s value proportion if it is splitted. Specific use It has some key characteristics and it is limited for certain usage only. One cannot use NFTs as per their needs/requirements. Verifiable scarcity Blockchain verifies the NFT holders and how many NFTs are left over for purchasing. 

How Do NFTs Work?

Working principle of NFT is so simple. It functions on the blockchain network, especially on Ethereum network. Popularly these Non-fungible tokens are stored on Ethereum blockchain for processing activities like buying, selling, making of NFTs.  NFT has only one token owner who holds a unique digital asset, thus the owner can be easily verified. Also, at a single point in time, NFT can be owned by a single owner. Here the owner of NFT can store specific information and can digitally sign in NFTs metadata. Majorly NFT is created for digital objects like 

  • Art
  • Music
  • GIFs
  • Video games 
  • Videos and sports highlights
  • Collectibles
  • Designer sneakers

How To Buy/ Sell /Make NFTs?

Buy NFT Before purchasing an NFT ensure that you own a digital wallet for storing it. A gas fee is also imposed for completing the transaction in a successful way. Sell NFT Initially upload your content on a digital platform before you start your selling. Give a description for your content and specify a price for it. Commonly NFTs are bought using ERC-20 tokens like WAX & Flow. Any other users trade it by using ERC-20 tokens for buying your NFTs. Make NFTs It is possible for everyone to create an NFT. For making your NFT marketplace into functionable you need 3 things, (ie) Ethereum tokens, wallet to store, establish a connection to your marketplace.  

What Are NFTs Used For?

Let us talk about the real-time application and usage of NFTs. In our life, we may face problems, “less opportunity to show our talents”. Isn’t it? To solve these issues, especially for (digital artists), NFT is a solution provider. Using the NFT marketplace one can sell their art by does not relying on digital galleries to expose their artistic framework. Here, a price range is fixed by the seller of NFT while selling their digital asset in a decentralized platform. 

Popular Use Cases of Non-Fungible Tokens 

I’m happy to list out the popular non-fungible token use case. First, the most familiar use case of NFT is “Crypto Kitties”. Apart from crypto kitties, there are multiple use-cases in NFT for different purposes like voting & elections, loyalty programs, art, real-world assets, virtual assets, copyright, supply chain tracking, medical data, and more. Digital platform users can make use of this opportunity for exhibiting their talents. 

Below listed NFT marketplace empowers your business in real-time, thus fixing major problems faced while selling a digital asset.

  • Opensea
  • Rarible
  • Super Rare
  • Foundation
  • Superfarm
  • Enjin
  • Ethernity
     

Earnlytical – Non-Fungible Token Development Company

We are happy to offer solutions from our NFT Services development company to every one of you. Our experts support you by offering complete technical support for building your highly secured Non-fungible tokens which follow the strong NFT development criteria. Also, We assist you to build other decentralized exchange platforms for making an expansion in your business. Feel free to connect with our crew!”A Goal Without A Plan Is Just A Wish”Start Your Business with Us!

VR_and_AR_Training

Improving Employee Performance through Augmented Reality

by with 3 Comments Technology

“Win the workplace first, to win the market”

Employee performance is key to the success of a business. Even the fantastic products or services of a company can fail if the employees are not performing well. Will it be an exaggeration to say that it is the lifeblood of an organization? Employee performance can be defined as how an employee fulfills the job tasks and duties.

Technology plays a crucial role in improving the performance of employees One of the technologies that are gaining popularity across industries is the augmented reality. AR is a technology that expands the physical world by adding layers of digital information to it.

The introduction of AR is mostly accompanied by an example of the game – Pokemon Go. The game was released in 2016 and in very little time it became a trending sensation. There are however several other examples of AR apps such as the IKEA AR app and Loreal Make-up app etc. If you want to know more about this revolutionizing technology then land into our Augmented Reality Definitive Guide.

AR technology is still in its infancy age but is reinventing the industrial processes in a way that was never thought of before. Slowly but steadily, AR is entering the mainstream; by the end of 2020, it will hit around $60 billion.

AR will now show its glory in managing one of the common challenges faced by organizations across the world –worker performance. Poor performance is indeed a hard nut to crack. Talking about a problem will not help in solving the same. This blog, therefore, focuses on augmented reality as a solution for improving workers’ performance and productivity.

A partnership between humans and smart machines is unique,
together they do wonders. Augmented reality is augmenting worker’s performance dramatically, resulting in improved performance, higher worker satisfaction, and greater safety.

GE using AR for improving technician performance

The video below is a great start to understand how augmented reality makes a significant difference in worker’s performance. The video shows a time-lapse comparison of GE’s technician wiring a wind turbine’s control box using the traditional method and with AR.

When using the traditional method of wiring, the technician needs to look in the papers kept aside after every step. In contrast, the-line-of-sight instructions are overlaid on the AR headset of the technician making it easier for him to complete the job effectively and efficiently. AR headset resulted in improved worker’s performance by 34%!

Adobe’s Project Aero

Adobe’s Project Aero is an AR tool that is allowing the company’s designers to create immersive experiences with Adobe tools even if they do not know how to code. Isn’t it amazing? 

Apple’ ARkit

Apple’s AR kit is another tool that is making it easier for developers to design the AR experiences for iPad and iPhone. The Hololense released by Microsoft also brings images and information right in the line of sight of the user. The workers can hence interact with the physical and virtual world simultaneously.

Do you know Boeing? Leading aircraft manufacturer and seller also uses AR to deliver instructions to technicians for airplane wiring schematics. This reduces wiring production time by 25%, increases productivity by 40%, and eliminates error rates.

TRMUA using AR

Toms River Municipal Utilities Authority (TRMUA) is also actively utilizing AR for reaching heights of success. The AR application is allowing these companies to reduce ergonomic issues by 90%.

So how AR make a difference in the worker’s process?

  • Workers get the right information at the right time, right place, and in an ideal format.
  • When using an AR headset, the hands of workers are free and they work without interruptions.
  • The time consumed in a particular process is reduced significantly.
  • Reduces errors, as AR display provides an explicit overlaid guidance on work
  • Reduced cost of operations

The above examples are only a few of the many; there are other real use cases of AR that increase my interest in this revolutionary technology. It’s great to witness the growth of immersive technologies in the market. Things that were once hypothetical are now turning out to be pragmatic. The immersive technologies, AR and VR have come a long way and there is yet much to be witnessed.

Earnlytical since years is committed to power businesses with energy to transform their business processes. Our AR and VR developers have expertise in developing the best-customized training solutions for clients across the industries.

Reach us at: info@earnlytical.com to collaborate with us.