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Microsoft Revives Nonfungible Tokens, Sparks Industry's Imagination

Ever since the game CryptoKitties was released in November 2017, the concept of nonfungible token has been ingrained in the minds of developers and investors in the crypto community. However, 2019 has been the year that NFTs have gained mainstream attention. And it should come as no surprise that even huge, multinational companies are currently developing NFT projects.

Recently, Mirosoft’s blockchain-based cloud platform, Azure, released its own nonfungible tokens program called “Azure Heroes” with the aim of rewarding its developer community.

Azure Heroes

Through Azure Heroes, Microsoft is on a mission to empower technical practitioners of all backgrounds. With that as the objective, it has created a tool to inspire the community to learn, coach and build on Azure while promoting healthy and inclusive behavior.

Issuance and transactions of “Badger” collectibles will be carried out on the Ethereum network, allowing winners to hold them as NFTs. The tokens were created in partnership with Enjin, a platfor that specifically caters to the video game industry.

In order to earn one of these Badgers, Azure developers must first be nominated — either by themselves or by the community. Then, the community moderators will select the best nominees, based on their performance, to be awarded a Badger. Winners will then be provided with a QR code that can be used to redeem their Badgers via their Enjin wallet, where it can then be transferred to any other NFT-compatible Ethereum address.

The rise of NFTs

Fungibility refers to an item that is interchangeable with another, identical item. A dollar bill or a grain of rice is fungible — i.e., mutually interchangeable with other dollar bills or grains of rice. On the other hand, a house or a piece of art constitutes a nonfungible item — i.e., not mutually interchangeable with other houses or other works of art. Keeping this distinction in mind, an NFT is a unique digital asset with a traceab...

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