Crypto:
29757
Bitcoin:
$67.348
% 0.29
BTC Dominance:
%54.3
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
Bitcoin:
$ 67.348
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Introduction to Semi-Fungible Tokens

Semi-fungible tokens (SFTs) are a new thing on the Solana blockchain that combines the features of two other types of tokens: fungible tokens (FTs) and non-fungible tokens (NFTs). SFTs are already being used in games and metaverse stuff and people think they’ll be used for even more things in the future.

At first, SFTs work like fungible tokens. You can swap semi-fungible tokens with other tokens of the same kind without losing any value. But once you use them, they become more like special collectible tokens that can’t be exchanged for identical ones.

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What’s the Advantage of Using SFTs instead of NFTs?

  1. Reversible Transactions: Unlike NFTs, if you send an SFT to the wrong place by mistake, you can reverse the transaction and get your tokens back.
  2. More Efficient and CostEffective: SFTs let you transfer a bunch of tokens all at once, while NFTs have to be transferred one by one. This saves time and money because you don’t have to pay fees for each individual transfer.
  3. Improved Security: SFTs are designed to be super secure when you’re moving them around. They’re like an upgraded version of NFTs.

 

What Can You Do With Semi-Fungible Tokens?

  1. Genopets SFT Example: In a game called Genopets on Solana, you can buy a special pet as an NFT. But the resources you collect in the game, like wood, water, crystals, and metal, are available as SFTs. SFTs are great here because you can buy and sell multiple resources in one go, which saves time and money compared to individual transfers.
  2. In-game Achievements Example: SFTs are also handy for keeping track of your gaming achievements.  It starts as an SFT, but as you use it and accomplish things in the game, it becomes a unique NFT like an item with a cool history. This way, the weapon gains value and becomes more special as it changes hands and accumulates in-game history.

How Do SFTs Work on Solana?

They are like special accounts that have metadata attached to them. This metadata represents the unique characteristics tokens in a game or virtual world. Solana’s architecture, which separates logic and data into different components, helps make SFTs work smoothly.

 


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