NFT tokens – they are the future of tokenization

Maciej Zieliński

23 Mar 2021
NFT tokens – they are the future of tokenization

Among the many ways to distinguish tokens, the most basic is the division into convertible and non-exchangeable tokens - fungible, non-fungible (NFT tokens). Until now, first and foremost, tokens of the first category have enjoyed the greatest popularity and recognition in the Blockchain environment. However, this may change dramatically soon.

Although cryptographic tokens are made of just a few lines of code, their potential is enormous. We already use them today, among others creating digital equivalents of real assets such as stocks and real estate, or creating innovative systems for tracking products in the supply chain. And with the increasing digitization, the list of their applications is constantly growing.

NFT tokens use Blockchain technology to connect to a unique digital asset that cannot be replicated. Recently, they have found more and more applications in such key areas as IoT or supply chains. In 2020 alone, their total value has tripled to over $ 315 million.

NFT tokens - how they differ from others

Non-fungibility in the case of NFT tokens means that each token in a given system is unique. Such tokens are not of a standard value and often do not allow for the equivalent exchange of one for another. Each token represents distinct, unique ownership or identity information

NFT tokens basic advantages:

  • They are impossible to counterfeit
  • They can be moved
  • They keep property rights

NFT tokens

NFT Tokens - Key Applications


We can use NFT tokens to prove the origin of a document, piece of data or basically any physical object in the real world. And because such tokens cannot be duplicated, and the information contained in them cannot be manipulated, we are sure that such a token - a certificate of authenticity, will never be forged.

Securing the authenticity of works of art, luxury fashion or exotic cars - the possibilities of such tokens go much further. If the land records were transferred to the blockchain, ownership would only be a matter of having the token corresponding to the property. The same applies to the rights to extract raw materials or the rights to water. Non-exchangeable tokens have countless potential applications wherever ownership certification is important. Already today, NFT tokens are used to sell digital works of art. An example is the American artist Mike Winkelmann (known as Beeple), who auctions NFT tokens equivalent to the ownership rights of his works. The most expensive of them - The Complete MF Collection was sold this way for nearly eight hundred thousand dollars. It was thanks to the American that Christies became the first large auction house to auction the NFT token - Everydays: The First 5000 Days.

The identity of things

Like people, products, machines and raw materials can also have their own digital identity. IDoT is a key element of blockchain-based supply chains and IoT applications. For example, by granting unique tokens to products, it becomes possible to trace their entire path in the supply chain - from raw material extraction, through production to sale to retail customers. This not only allows you to secure their origin, but also to control the conditions of transport, especially important in industries such as food. If a broken chicken comes to the supermarket, thanks to the tokens, it is easy to determine at which stage the deficiencies occurred and which entity is responsible for them.

ERC-721 tokens

Currently, the most popular standard in which NFTs are created is ERC-721 running on Ethereum. Introduced in 2018, it gained popularity thanks to the online collector game Crypto Kitties. Apart from the ease of creating immutable tokens, its greatest advantage is its compatibility with other Blockchain networks. In addition to Ethereum, such tokens will work, among others on Blockchains such as EOS or NEO.

The most popular is does not mean the only one. NFT tokens have already been a pain of interest for among others Binance cryptocurrency exchange, which plans to release its own standard of NFT tokens in 2021 - BEP-721.

NFT tokens

Largest NFT projects

OpenSea - NFT's leading art and other collector's items market.

Async.Art - to kolejny rynek stokenizowanej sztuki, pozwalający użytkownikom nie tylko na sprzedaż i zakup, ale również stworzenie swojego własnego tokenowego dzieła. 

Axie Infinity - a platform for purchasing virtual land. It was through it that one of the users purchased land worth over $ 1.5 million, which is the largest NFT purchase ever.

Decentraland - a leading NFT project focusing on a distributed virtual world. The users buy virtual land here too.

NFT tokens - summary

It is worth noting that NFT tokens are still a very new area. Therefore, it can be expected that the most interesting solutions are yet to be developed. Therefore, at Nextrope, we have placed NFT tokens among the hottest tokenization trends for 2021.

Would you like to use tokenization in your project? Contact our specialists who can give you a free consultation.

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What is Account Abstraction?


10 Nov 2023
What is Account Abstraction?

Account abstraction is a new way of thinking about how users interact with blockchains. Instead of using traditional externally owned accounts (EOAs), account abstraction allows users to create and manage their accounts using smart contracts. This has a number of potential benefits, including improved security, enhanced privacy, and increased flexibility.

What is account abstraction?

Account abstraction is a concept that, at its core, aims to simplify the user's interaction with blockchain networks. It is a transformative approach that seeks to mask the technicalities of blockchain operations from end-users. It is making transactions as straightforward as sending an email. Account Abstr. allows users to interact with the blockchain without worrying about the underlying technical details.

How does account abstraction differ from the traditional model?

In the traditional account model, each user has an EOA. EOAs are controlled by private keys, which must be kept secret in order to protect the user's funds. Acc. abstraction allows users to create and manage their accounts using smart contracts.

Historical Context

The journey towards acc. abstraction began with the first generation of blockchain technologies, characterized by their "one-size-fits-all" approach to account management. Bitcoin, for instance, introduced the concept of accounts and transactions in a form that was accessible to tech-savvy individuals but remained perplexing to the layperson. Ethereum expanded on this by introducing smart contracts, which opened the door to programmable transactions but did not alter the fundamental account structure. The idea of acc. abstraction has been discussed in the Ethereum community for several years as a part of various Ethereum Improvement Proposals (EIPs), particularly as a feature to be potentially implemented in Ethereum 2.0. It is a direct response to the need for a more versatile and user-centric design that can cater to a broader audience and spur the widespread adoption of blockchain technology.

The Technicalities of Account Abstraction

Account abstraction is not merely a theoretical construct but a technical innovation with specific mechanisms underpinning its operation. In essence, it alters the way transactions are initiated and executed within a blockchain network.

How Account Abstraction Works

Under traditional blockchain models, initiating a transaction involves an externally owned account (EOA) signing a transaction with a private key. This transaction is then broadcast to the network for validation and inclusion in the blockchain. Account abstraction, however, replaces this process with a more flexible one. Here, every account is a smart contract, and transactions are messages sent through these contracts. These smart contracts can encode complex rules for transaction validation, beyond what EOAs can do, such as multi-signature requirements or conditional transactions based on certain triggers.

The technical crux of account abstraction lies in the smart contract’s ability to define its own conditions for transaction execution. This means that user accounts can have unique security protocols or automated operations without the user needing to understand the underlying smart contract code.

Hey! Are you interested in the latest technologies in the blockchain area? be sure to read the article 'Top Zero-Knowledge Proof Projects to watch in 2023'

The Benefits of Account Abstraction

The implications of account abstraction are profound, offering a range of benefits that can enhance the blockchain experience for users and developers alike.

Improved User Experience

One of the most significant advantages of account abstraction is the improvement it brings to user experience. By abstracting away the complexities of key management and transaction rules, it presents a more intuitive interface for users.

Enhanced Security Features

Account abstraction also allows for the implementation of advanced security measures. Since each account can define its own logic, users can tailor their security settings to their specific needs. For instance, one might set up an account that requires additional verification for transactions exceeding a certain value or restricts withdrawals to certain addresses.

Future Implications

The future implications of account abstraction are vast. As the technology matures, it could become a standard feature of blockchain networks, potentially making the current distinction between user accounts and smart contracts obsolete. This could lead to a new wave of blockchain applications that are both powerful and accessible, bringing us closer to the vision of blockchain technology as a seamless part of everyday life.

Challenges and Considerations

Technical Limitations

One of the primary technical challenges of Acc. abstraction lies in its integration with existing blockchain protocols. Current networks are optimized for the EOA model, and introducing a new account structure necessitates significant changes to the core protocol. This includes modifications to the way transactions are propagated in the network, how gas fees are calculated, and how the state of the blockchain is managed. Ensuring that these changes do not compromise the network's performance or security requires careful planning and extensive testing.

Compatibility with Current Systems

Another consideration is the compatibility of account abstr. with the vast ecosystem of existing blockchain applications and services. Wallets, exchanges, and other services have been built around the traditional account model. Transitioning to an acc. abstraction model will require these services to update their infrastructure, which may be a complex and resource-intensive process. Furthermore, there is a need for standardization across the industry to ensure that different implementations of account abstr. can work seamlessly together.


Acc. abstraction represents a significant leap forward in the quest for a more user-friendly blockchain experience. By streamlining the transaction process and offering enhanced security features, acc abstraction has the potential to make blockchain technology more accessible to a broader audience. However, the path to widespread adoption is not without its obstacles. Technical challenges and compatibility issues must be carefully navigated to integrate it into the existing blockchain landscape.

Key Takeaways

How to Add Gnosis Chain to MetaMask: A Simple Tutorial


03 Nov 2023
How to Add Gnosis Chain to MetaMask: A Simple Tutorial

As the cryptocurrency ecosystem expands, there is an increasing need for various blockchains with distinct capabilities. Gnosis Chain enters the scene, offering a selection of unique characteristics. By integrating Gnosis Chain with MetaMask, users can access a more comprehensive array of decentralized services. We will walk you through the steps to add Gnosis Chain to your MetaMask wallet in this tutorial.


Setting up MetaMask

Before exploring the integration of Gnosis Chain, it is crucial to have MetaMask installed and operational:

  • Download and Install: If you have not done so already, visit the official website to download and install the MetaMask browser extension.
  • Setup Account: After completing the installation, create your account and make sure to remember the provided seed phrase. This phrase serves as your primary means for account recovery, so keep it secure.
  • Secure Your Account: Protecting your MetaMask account is of utmost importance. Use a robust password and never disclose your seed phrase to anyone.

Gnosis Chain

It is always helpful to have a basic understanding before incorporating any new blockchain into your wallet:

  • Gnosis Chain Overview: Gnosis Chain, a rising star in the blockchain world, brings a range of decentralized solutions to the table, such as prediction markets and decentralized trading platforms.
  • Benefits & Features: Among Gnosis Chain's main selling points are its accelerated transaction speeds and potentially lower fees when compared to congested networks.

Tutorial: How to Add Gnosis Chain to MetaMask

In the top right-hand corner of your browser, you'll find the wallet. If pinned, click on the MetaMask fox icon; if not, click the three dots in the top-right corner. The following screen will appear:

An option to expand the wallet to a new browser page is available by clicking "Expand view:"

This action will launch MetaMask in a new tab:

By clicking on the ‘Ethereum mainnet’ in the top left corner, you can add another network. Click ‘Add Network’

Choose option ‘Add a network manually’

Then, input the information below:

Network Name: Gnosis Chain formerly xDai


ChainID: 100

Symbol: XDAI

Block Explorer URL:

After saving the settings, Gnosis Chain will be added to your network.

The Benefits of Adding Gnosis Chain to MetaMask

With multiple blockchains becoming more common, integrating Gnosis Chain with MetaMask offers numerous advantages:

Expanded Capabilities: Accessing Gnosis Chain through MetaMask opens up a collection of exclusive applications and features inherent to this particular blockchain, which may include unique dapps or cutting-edge financial products.

Diversification: The crypto domain is extensive and constantly growing. By incorporating various chains like Gnosis into MetaMask, you broaden your potential investment opportunities and decentralized application experiences, ensuring no opportunities are missed.

Speed & Cost-Effectiveness: Network congestion and high gas fees on established platforms like Ethereum can discourage many users. Gnosis Chain's architecture has the potential to provide relief through quicker transaction times and more affordable fees.

In summary, as the possibilities within the crypto sphere continue to evolve, tools like MetaMask grant users access to this expanding world. By adding chains like Gnosis, users can stay ahead in this decentralized revolution.


By bridging platforms like Gnosis Chain with accessible tools like MetaMask, individuals not only amplify their engagement with decentralized applications but also fortify their position in this expansive realm. The integration of Gnosis Chain to MetaMask epitomizes the evolution of the crypto landscape – a testament to its ever-growing diversity and potential. As we continue to delve deeper into the decentralized future, tools and integrations like these will undoubtedly play a pivotal role in shaping our digital experiences and opportunities. Whether you're seeking more efficient transactions, diverse dapp interactions, or simply a broader understanding of the crypto ecosystem, this guide's steps open doors to a new horizon.