Learn more about crypto with this collection
How to create and sell NFTs
The future of NFTs
The benefits and drawbacks of NFTs
An NFT is a unique asset and can represent any digital asset on the Ethereum blockchain. This makes it scarce, provable, and valuable.
It can take the form of digital art, collectables, a creative extension of music, or a blend of all three.
Anyone can create an NFT. As long as individuals can prove they created or legally own the content, they can mint an NFT.
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NFTs presents a new medium for artists and creators to showcase and monetize their creations. In turn, collectors have transparency into the authenticity and origin of their purchases.
While you can screenshot an NFT without purchasing it, you would not be able to sell it at the value of the original. Every time the NFT moves on the secondary market, the new owner and the purchase price is automatically recorded on a blockchain for everyone to see. Ultimately, you are not buying the picture - you're buying the property rights to the picture.
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The CryptyArt category was started by cultural phenomena like CryptoPunks, Rare Pepe, and CryptoKitties. The viral network effects and the desire to buy these pieces helped these pieces of art to gain fame.
On May 3rd, 2014, Kevin McCoy minted his non-fungible token "Quantum" long before the crypto art market exploded. The "Quantum" art piece (2014-2021) is on sale for seven million dollars.
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2016: Trading Cards on Counterparty. Counterparty teamed up with Force of Will, a trading card game, who launched their cards on the Counterparty platform.
2016: Rare Pepes on Counterparty. Memes entered the blockchain and made their way onto the Counterparty platform. People started to add assets to a meme called "Rare Pepes." By early 2017, Rare Pepes started to be traded on Ethereum as well. CryptoArt was born with the Rare Pepe Wallet. Now any creator could submit and sell their artwork.
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John Watkinson and Matt Hall developed unique characters on the Ethereum blockchain, limited to 10,000.
The project name, Cryptopunks, was referenced to an experiment with Bitcoin in the 1990s.
CryptoKitties NFTs use ERC721. They are a blockchain-based virtual game that allows players to breed and trade virtual cats using Ethereum.
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Between 2018 and 2021, NFTs moved into public awareness before mainstream adoption in early 2021.
The NFT market is more efficient and liquid than current methods of transferring assets.
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CURATED BY
NFTs provide a bright future. Any artist can and should tap into this powerful blockchain technology to reach new audiences that are excited to collect and appreciate their work.
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