Mosaics what do they do

General Discussion
#1

I got 3 mosaics from a faucet, they are now in my wallet what do they do and is there a benefit to having them?

#2

Mosaics are assets or colored coins.

#3

But I don’t understand, I have 3 but don’t seem to do anything, what is a coloured coin? Sorry I’m a noob to all this

#4

NEM blockchain lets you create your own coins with all the characteristic you want like supply limit, or fees per transaction, divisibility, mutable quantity, etc. Read this https://blog.nem.io/mosaics-and-namespaces-2/

XEM coins was the first MOSAIC ever created.

#5

Ah right! I get it now. They are pretty worthless really are they at the moment

#6

You can literally start your own coin like what Ecobit is doing. http://www.ecobit.io they will create a mosaic at the end of their ICO.

It’s like Ethereum that you can also create your own tokens, same stuff. Or waves.

#7

Ah I see interesting!