Can someone explain to me what is an nft?
Non fundable token ? They can be traded and sold and that Information is stored within a block chain
So what does this mean?
So what does this mean?
26-30, F
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It's digital art that uses blockchain technology to ensure its uniqueness.
It's sold like a piece of art, and ostensibly it has value because of its uniqueness.
Personally I think it's just another thing for people to buy and obsess over, I think its a fad and likely on the way out due to the crypto crash.
It's sold like a piece of art, and ostensibly it has value because of its uniqueness.
Personally I think it's just another thing for people to buy and obsess over, I think its a fad and likely on the way out due to the crypto crash.
DeluxedEdition · 26-30, F
@SumKindaMunster my thoughts exactly. It reminds me of how Etsy sells digital pdf photos that you can actually just download for free if you hover over the picture😭
tenente · 100+, M
@DeluxedEdition @SumKindaMunster i don't really understand what 'NFT' is. the word 'fungible' keeps tripping me up. i googled and here's what i figured out - tell me if i got this right...
i buy book from the book store. if it’s ruined or lost, i can easily buy another copy of the book to replace it. that copy is the same, it's identical. the copy is worth the same amount, it looks the same, and it has the same content. so, it’s 'fungible'.
now, same book, but this time i get the author to sign it and add a personalized inscription 'to my goodest friend evar, tenente'. if i lose it i can't replace it. so this is 'non-fungible'
am i right or did i f*#@ this up 🤔
i buy book from the book store. if it’s ruined or lost, i can easily buy another copy of the book to replace it. that copy is the same, it's identical. the copy is worth the same amount, it looks the same, and it has the same content. so, it’s 'fungible'.
now, same book, but this time i get the author to sign it and add a personalized inscription 'to my goodest friend evar, tenente'. if i lose it i can't replace it. so this is 'non-fungible'
am i right or did i f*#@ this up 🤔
ABCDEF7 · M
Thanks for asking, me too didn't knew it.
Both cryptocurrency and NFTs rely on blockchain transactions to validate their authenticity and record their ownership; in most cases, you need crypto to purchase NFTs.
Each NFT cannot be replicated, only traded, and can be pretty much anything - so long as it can be digitized. Digital drawings, doodles, pieces of music, memes, or Tweets, for example, can all become NFTs. They can also be, of course, unique digital artworks. The main criteria are that they are entirely unique.
"Tokenizing" these intangible assets allows them to be bought, sold, and traded more efficiently while in theory reducing the probability of fraud. NFTs can be created using blockchain and a specialist NFT marketplace to encode and tokenize the digital asset. The marketplace mints the NFT, charging a fee for the service. There are also other associated fees involved. When NFTs are sold, for example, this process also attracts a fee, or fees, depending on the system used.
These fees are usually paid for using a cryptocurrency. For this reason, wannabe NFT creators and owners will also need their own crypto wallets. When an NFT is purchased, the original artist/creator maintains ownership of the intellectual rights to the work, while the new owner will buy ownership of the NFT, not the original work that it is based on.
Both cryptocurrency and NFTs rely on blockchain transactions to validate their authenticity and record their ownership; in most cases, you need crypto to purchase NFTs.
Each NFT cannot be replicated, only traded, and can be pretty much anything - so long as it can be digitized. Digital drawings, doodles, pieces of music, memes, or Tweets, for example, can all become NFTs. They can also be, of course, unique digital artworks. The main criteria are that they are entirely unique.
"Tokenizing" these intangible assets allows them to be bought, sold, and traded more efficiently while in theory reducing the probability of fraud. NFTs can be created using blockchain and a specialist NFT marketplace to encode and tokenize the digital asset. The marketplace mints the NFT, charging a fee for the service. There are also other associated fees involved. When NFTs are sold, for example, this process also attracts a fee, or fees, depending on the system used.
These fees are usually paid for using a cryptocurrency. For this reason, wannabe NFT creators and owners will also need their own crypto wallets. When an NFT is purchased, the original artist/creator maintains ownership of the intellectual rights to the work, while the new owner will buy ownership of the NFT, not the original work that it is based on.
Pfuzylogic · M
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Pfuzylogic · M
@DeluxedEdition
It is like a piece of protected “area” on the network that can belong to only you as an owner. It does get way deeper!
It is like a piece of protected “area” on the network that can belong to only you as an owner. It does get way deeper!
Pfuzylogic · M
@butterflybaby75 Nice link!
DeluxedEdition · 26-30, F
@butterflybaby75 @Pfuzylogic thank you 🙏
butterflybaby75 · 46-50, F
Oster1 · M
It's very complicated and meant to be that way. It's a vacuum, for suckers money.
Your question, is very urgent. We need to have lunch, immediately!
Call me! 😊🌷
Your question, is very urgent. We need to have lunch, immediately!
Call me! 😊🌷
SatyrService · M
it means you can fool lots of the people lots of the time
wildbill83 · 41-45, M
Nice Fucking Tits? 🤔
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aboveaverageaveragejoe · 51-55, M
Non fungible token. It's a digital asset in the formn of digital art that can be bought and traded. I think it's become a bit passe already after a lot of hype
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