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Semi-Fungible Token Development

Leverage the best of both worlds through semi fungible token development. We help you utilize this growing innovation for real-world use cases.

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Understanding Semi Fungible Token Development

A semi-fungible token is a digital asset that has fungible and non-fungible properties. Typically, a semi-fungible token begins in a fungible state. Here, the owner can trade it with a token of equal value. Once traded, it becomes non-fungible but retains the initial attributes. SFTs are a new extension of the present blockchain-based apps and seek to overcome the issues faced by current NFTs.

Consider a ticket to a live event or a game. A semi-fungible NFT ticket is one where you can exchange the existing ticket with another for the same game in the same seating area. However, after the game is complete, the ticket loses any redeemable value and turns into a collectible. This collectible is non-fungible, meaning you cannot exchange the ticket with any others. Hence, the transition from semi-fungible to non-fungible becomes essential in converting tokens to NFTs.

Uses Cases of Semi Fungible Token Development

In-Game Assets

Semi fungible token development for blockchain games provides SFTs with uses that make them work as currency or as assets.

Event Tickets

Semi-fungible tickets before the event are redeemable tickets users can trade amongst themselves. After the event, they become collectibles and increase in value.

Vouchers

SFT tokens work here in the same way they do with tickets. These vouchers are redeemable and tradeable on or before the sales event. After the event, they become non-fungible.

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Benefits of Semi Fungible Token Development Services

Tradability

SFTs combine semi and non-fungible properties into a single asset. This benefit makes it easy for anyone to trade them on the marketplace.

Flexibility

By nature, SFTs provide greater flexibility than regular NFTs. That trait itself makes them better and more appealing to the audience.

Easy to Develop

SFTs are developed on the Ethereum network using the existing EIP-721 token standards. Hence, developers spend less time creating NFTs.

Multi-Use

SFTs are semi fungible before use and non-fungible after use. Owners can use them to verify a product’s or asset’s attributes.

Fungibility After Trading

Semi-fungible tokens retain some fungibility even after their initial trade. Secondary owners are assured of liquidity and can trade these assets on different exchanges.

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Semi Fungible Token Development Services

Presently, NFTs are the face of the blockchain industry and that is mostly thanks to how they prove ownership, immutability, and authenticity. However, NFTs have been used in a limited area but that limitation is overcome through semi fungible token development.

Semi fungible tokens provide greater utility while creating liquidity for assets along the way. These tokens are developed using the EIP-721 standard and which results in faster batch token transactions. Many companies and businesses see the potential in semi fungible tokens and are already investing in them.

Why Work With Our Semi Fungible Token Development Company

Our company comprises people who understand the importance of the blockchain since its early inception. The developers working at W3AD remain aware of everything happening in the crypto space and use that knowledge to create future-proof solutions. We constantly strive to push ourselves to reach new heights and face every challenge that comes our way. Trust us to create the best products for your business and forever revolutionize the blockchain landscape.

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