CDK Token

<h2 id="header-0"><strong>What are the use cases of CDK NFTs</strong></h2><p>You probably heard a lot about images of monkeys that sell for millions, such as “NFT”. NFT stands for Non Fungible Tokens so it represents a unique asset. Let’s take a look at CDK NFTs and the difference between Art NFTs and utility NFTs. Non Fungible Tokens are a real proof of ownership.</p><h3 id="utility-nfts-vs-art-nfts">Utility NFTs vs Art NFTs</h3><p>Utility NFTs can have a real use instead of collecting, for example : Decentralized Event Ticket, Play to earn assets like Axie Infinity or Sandbox or also invitation voucher.</p><p>For most of the Art NFTs, the only use of them is to collect them. ost people mint NFT at the launch to collect them or sell them at a better price, some are just for collection. Some have also real utilities, so we can consider them as Utility Art NFTs.</p><p>For example Bored Ape Yacht Club has a unique use, if you have one of their NFTs, you are able to be invited to one of their private parties on a yacht.</p><h3 id="what-does-a-cdk-nft-look-like">What Does a CDK NFT look like ?</h3><p>The creation of an NFT aims to transform a physical vehicle into a digital asset that can easily be manipulated while guaranteeing the information relative to it is correct. All modifications will be recorded onto the Algorand blockchain and only the  owner of the NFT can make any change to it. At first, only CodeNekt will create NFTs, though it is probable that car manufacturers will want their share of this, as will other third parties. Until then, it means that a garage or states will have to use either CodeNekt’s application or CodeNekt’s APIs to  update NFTs, since they won’t be the NFTs creators themselves.</p><ol><li></li></ol><p>When a CodeNekt user, owner of a car, wants to sell it, he’ll use CodeNekt for several purposes:</p><ul><li>Have access to the NFT and all the information it contains. This has great value, for it is a guarantee that the information is reliable (mileage, detailed maintenance, past garage bills, vehicle not stolen or wrecked, etc.)</li><li>Obtain the right price of the vehicle. That price depends on many factors (on top of the obvious, the maintenance history and general condition, where it is being sold, the time of year, etc.), and CodeNekt is well placed to both possess this information and make use of it optimally.</li><li>Find potential buyers that can be interested in this particular vehicle.</li><li>Offer the buyer a warranty through an insurance partner. This insurance company will be able to propose such a warranty thanks to CodeNekt’s knowledge of the vehicle being sold.</li></ul><h3 id="strong-what-happens-when-i-buy-a-cdk-nft-strong"><strong>What happens when I buy  a CDK NFT ?</strong></h3><h3 id="img-src-https-academy-public-coinmarketcap-com-optimized-uploads-9b35b099d5f44ec4885522818cf8c3df-png"><img src="https://academy-public.coinmarketcap.com/optimized-uploads/9b35b099d5f44ec4885522818cf8c3df.png" /></h3><p>A first transaction (1) is registered on the Algorand blockchain to store general information, including the vehicle’s NFT hash to link the transaction to the NFT and not only to the user.</p><p>Next, the vehicle’s NFT is modified (2), including a CID link to a new file stored on IPFS. The previous files are not deleted and can serve as a reference and a proof that the modification is legit and does not erase relevant information. It also registers the new mileage, expressed in kilometers. This mileage cannot be less than the previous registration.</p><p>Finally, the amount of cashback the Garage wants to give  its customer is sent as fidelity tokens (3). This smart contract will send a share of this to the customer’s wallet, another to CodeNekt’s, and a third as reward to CDK stakeholders .</p><p>Insurance , police, states, parking lots, public transport companies, carpooling services, vehicle rental agencies, taxis, vehicles sharing and delivery services are some of the numerous entities that will love using CodeNekt’s tools.</p>

What are the use cases of CDK NFTs

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