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The future of blockchain technology
Wtf?!
The founder of Twitter sold his tweet as an NFT for under $3 million.
Someone paid almost $390,000 for a 50-second video by Grimes while another person paid $6.6 million for a video by Beeple.
Nyan Cat meme from 2011 sold for about US$590,000 in an online auction last Friday, February 19.
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MORE IDEAS ON THIS
Fungibility (no it has nothing to do with fungi 🍄)
Fungible→ something replaceable/exchangeable.
- Currencies & goods are fungible because they are interchangeable with items of the same value.
- Ex: exchanging one 5$ bill with five 1$ bills because both have the ...
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508 reads
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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488 reads
How do NFTs work?
They use the same blockchain technology that most cryptocurrencies use.
Most NFTs are part of the Ethereum (a crypto...
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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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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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NFTs can be compared to autographed work
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.
- On 19 February, an animated Gif of Nyan Cat sold for over $500,000.
- We...
The rise of NFTs
The sale of Mars House marks the beginning of a new era, referred as hybrid reality, made possible most notably by the creation of NFTs, non-fungible tokens.
Our grandmothers collected plates and now, we can collect memes.
NFTs are becoming increasingly popular in th...
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