Ankit Agarwal, a senior manager at Starlite, participated in the “In the sandbox with…” podcast series presented by Adam Smart, product manager of AppsFlyer, and ex-Uber and Product Madness marketer Piyush Mishra. As the guest of two episodes, Ankit answered the questions from Piyush and Adam about blockchain and NFT. All episodes of the series are available on the AppsFlyer website.
Starting his speech by explaining the blockchain, Ankit proceeded through short examples. The blockchain acts as a decentralized and reliable center. Ankit, who describes this task through international bank transfers, says that a person who wants to send money abroad should give their information to more than one company. In such a case, he explains that exchange to be made over the blockchain will be simpler and decentralized instead of passing his data to another company.
The blockchain stores data in a group of blocks. These “chains” are interconnected; they are transparent and allow information sharing as much as possible. Thanks to smart contracts, the necessary conditions can be met, and the trust problem of users is eliminated. Ankit says this is essential for users as it is sustainable and reliable.
What makes an NFT unique?
Host Piyush Mishra asks Ankit that NFTs are said to be unique, but there are thousands of them and why they were launched as unique.
On this question, Ankit says that even an NFT produced in tens of thousands is unique, and each one is different. Going through the example, Ankit points out that once a singer has created a unique song, he can produce thousands of copies. In this context, the fact that an artist can make as many copies of an NFT as he wishes after creating it does not change that each one is unique. Because each copy produced has its own identity.
Touching on the use and examples of NFT in games, Ankit gives some examples over Fortnite. Stating that the game has three main elements: characters, playgrounds, and props, Ankit says that thanks to NFT, users can fully own these elements. In the current situation, users cannot fully own the items in the games, and NFTs come into play in this regard.