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The differences between Web 2.0 and Web 3.0
The future of the internet
Understanding the potential of Web 3.0
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Traditional art is valuable because they are unique. But digital files can be duplicated.
With NFTs, artwork can be "tokenised" - a digital certificate of ownership that can be bought and sold. A record of who owns what is stored on a shared ledger known as a blockchain.Â
NFTs are unique digital tokens cryptographically sealed on a blockchain, and valuable within its ecosystem.
100
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Nothing is stopping people from copying digital art. But the buyer of the NFT owns a "token" that proves they own the "original" work.
People are paying millions of dollars for tokens.
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Beeple (Mike Winkelmann) thinks there will be a bubble.
People selling the NFTs are "crypto-grifters", David Gerard, author of Attack of the 50-foot Blockchain, said. While some artists are doing great on this stuff, most people probably won't.
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"Making money is art and working is art and good business is the best art." ~ Andy Warhol
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