Learn more about crypto with this collection
Understanding the basics of blockchain technology
The benefits and challenges of using blockchain
The future of blockchain technology
How do NFTs work?
They use the same blockchain technology that most cryptocurrencies use.
Most NFTs are part of the Ethereum (a cryptocurrency) blockchain but other blockchains can implement their own versions of NFTs.
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MORE IDEAS ON THIS
Fungibility (no it has nothing to do with fungi 🍄)
Fungible→ something replaceable/exchangeable.
- Currencies & goods are fungible because they are interchangeable with items of the same value.
- Ex: exchanging one 5$ bill with five 1$ bills because both have the ...
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Wtf?!
The founder of Twitter sold his tweet as an NFT for under $3 million.
Someone paid almost $390,000 for a
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What is an NFT?
NFT stands for Non-fungible token.
- cannot be exchanged/replicated/replaced because they are unique.
- allows you to buy & sell ownership of unique digital assets.
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Selling NFTS
The creator just gets a shit ton of money and still gets to enjoy copyrights of their work so..... Win-win situation 😉.
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What‘s the point?
Selling NFTs could be like selling a van Gogh painting, except instead of getting to appreciate a physical copy of something, you get a trading card.
People will still be able to access & distribute the asset that you bought but you own it (
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Are NFTs bad for the environment?
NFTs are at least partially responsible for the millions of tons of carbon dioxide emissions generated by the cryptocurrencies used to buy & sell them.
Cryptocurrencies are built on a system called “
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Buying NFTs
NFTs are designed to give you something that can’t be copied: ownership (though a creator can still retain
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CURATED FROM
CURATED BY
Just a queer, brown, psychology undergraduate ranting about random things I come across. I organize my thoughts in little, informative chunks and try to cite my sources. #psychology #society #marxism #philosophy #leftist #LGBTQ #gay #trans #queer
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How do they work?
At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an...
How NFTs work
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...
HOW DO YOU BUY CRYPTO ART?
- The NFTs used to buy crypto art are built on blockchain technology.
- Blockchain technology is also used for cryptocurrencies like Bitcoin, Etherium, and yes, even DOGE coins. The blockchain offers a secure, digital record of transactions.
- The...
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