What is Vfactory? Features and applications of Vfactory

With the rise of the non-fungible token (NFT) in the digital economy, many users are opting to issue their NFT/NFT warrants in order to exercise ownership rights over digital works or to tokenize with works in the real world. In Vconomics — Decentralized Digital Economy, Vfactory is a place cut out for it.

1. What is Vfactory?

Before Vfactory, it is necessary to understand the concept and outstanding features of NFTs. Vactory is a place to produce NFT, or a “factory” for Non-fungible tokens.

1.1. What is NFT?

A non-fungible token (NFT) is a digitally authenticated certificate that cannot be duplicated. It is used to represent ownership of electronic products and is stored on a blockchain. Because of the security and transparency of blockchain technology, ownership records for these digital assets are always unique, unchangeable with only one owner at any given moment.

The recent cryptocurrency boom has served as a springboard for the expansion of NFTs, making it gain widespread recognition and popularity. Creating NFTs is akin to claiming your creative copyright and establishing long-term financial value. As a result, they can be used in both the digital economy and real life.

Many people often misunderstand “coin” and “NFT” as two similar concepts, but they are completely different in both definition and function. In other words, investing in coins brings profit as trading stocks, and engaging in the NFT market is similar to collecting vintage 4.0 antiques thanks to which people can benefit from the item’s long-term, definable, and irreplaceable value.

1.2. What is Vfactory?

In the Vconomics digital economy, Vfactory is the site to make NFTs, in other words, the “father” of cryptographic works. You can earn your title by creating works of art (NFT Art), releasing unique digital objects, or building an “empire” of exceedingly rare 4.0 antiques, etc. This token can be a physical thing, financial investment and so on. They can be found in digital form or as tokens that users can own in real life.

Users can utilize Vfactory to construct NFT production under forms like:

• NFTs or collections of NFTs

• Financial products

• Layer-1 and layer-2 platform tokens that support NFT-based protocols and projects

• NFT platform’s governance tokens

• NFT social tokens

• NFT platform and infrastructure

2. Characteristics

The features of Vfactory, as the birthplace of NFT in the Vconomics — Decentralized Digital Economy, are likewise those of NFTs (Non-fungible token).

2.1. Non-fungible

The nature of money in general (including real money and virtual money) is fungible, meaning that there is no distinction among units of currency.

The same denomination banknotes have the same consumption value and can be used in a variety of ways. People are primarily concerned with the amount of money they have and its value, not the shape and size of each piece.

The non-fungibility of currencies creates liquidity in buying and selling activities, but it is not unique in the digital economy market. NFTs, on the other hand, is a encrypted token on blockchain that represents one unique asset. Products made in Vfactory are clearly fungible and not interchangeable, hence Vfactory can be deemed highly identifiable in this unique set of digital goods development activities.

2.2. Assurance

Vfactory is built on blockchain platform, making it entirely secure and safe. You can not destroy the NFT factory, break into other people’s archives, steal patent rights or compete for private items. Vfactory serves as a safe place for creators, guaranteeing that no hackers gain access or exploit benefit from counterfeiting and imitating your work.

An important note is that ownership of the NFT does not prevent others from copying the artworks. They can manufacture hundreds of duplicates (all of which look the same), but none of them are genuine originals because the blockchain will only record one NFT.

Thus, Vfactory ensures that copies of the work will not be resold, which preserves the rights of the creators and respects the copyrights of the authors. To sum up, others can make digital copies of your work, but only one original exists and is endorsed by Vfactory.

2.3. Verification

In real life, when acquiring antiques, people frequently seek appraisal and evaluation from professionals. As a result, when an antique is a scam and underestimated by experts, antique buyers are put in danger.

By contrast, there exists only one original of an NFT-certified work of art which is preserved on Vfactory’s blockchain technology forever. Without third-party verification, anyone who wants to buy/sell products on this platform can track the origin, study ownership history and identify work’s identifying code (or unique code). As a result, Vfactory verifies every digital object you make and protects both buyers and sellers.

2.4. Undivided goods

The NFT factory does not allow items to be divided. If you want to buy a painting, you have to buy the whole picture and cannot pay half price for half of the work. Cryptocurrencies are divisible and traded in fractions, while NFTs generated inVfactory is a whole product.

3. Vfactory Features

3.1. Production NFT goods

NFT production is the main function of Vfactory and encourage people to buy and sell and create economies and promote the buying and selling process. NFT digital commodities have the potential to become more widely used in the Vconomics ecosystem, while also establishing the shape of a modern, decentralized society in the future.

3.2. NFT Copyright

You can certify your NFT with Vfactory. For those who make outstanding works, this also opens up life-changing opportunities. Thanks to immutable technology of blockchain, valuable NFTs will be permanently stored in Vfactory system, which means that this factory honors your efforts in perpetuity.

3.3. Stimulate demand for ownership

Unique digital things can be valued at high, even enormous amounts because of its uniqueness (for example, the virtual cat Nyan costs $ 600,000 and 9 virtual acres on Axie Infinity cost $1.5 million). Vfactory stimulates ownership demand and allows you to make long-term investments in rare artifacts and profit from these products.

3.4. Efficient production

Vfactory is built on blockchain technology, which allows rapid and easy transactions (e.g: buying, selling, manufacturing, etc.). Creating unique products has never been so easy within a few simple steps in Vfactory!

4. Conclusion

In the Vconomics —Decentralized Digital Economy, Vfactory claims to provide users with enteresting experiences. You can profit from the NFT factory by immediately creating your own NFTs.