Okay, so this point you might, you might be convinced on NFTs, you might just be keeping an open mind. Either way, thank you for coming this far. And now let’s dive into another question. Why are NFTs possible only today after the advent of blockchain technology? why have we never been able to have things that are scarce, that are ownable on the internet before? And ultimately that comes down to the nature of…
Okay, so we understand that NFTs are very new technology and honestly, at this point in the world, 99% percent of people are still skeptical. You might still be skeptical, that’s okay! What we’re here to tell you, is that people have been skeptical about every single new technology. People are skeptical about literally every single new technology when it first comes out. Now, today we understand the internet is world-changing. It’s groundbreaking. Billions of…
Why is the original worth so much more than a replica?And ultimately, it comes out to the same reason why NFTs have value today when we can say you own, the original digital Mona Lisa versus own a replica, you own just say right-click saved version of that Mona Lisa. And so why does that art have that much value? Let’s dive into that a little bit more. Why art is so valuable?So let’s talk…
Token represents a lot of things on the blockchain and so in the very early days of blockchain technology, and this is talking about things that are made with cryptocurrencies. The first tokens on blockchains were just basically currencies, similar to the US dollars. So we had things like bitcoin. We had things like Ethereum. Now Ethereum and bitcoin are all perfectly fungible. No one cares if you have one bitcoin or another bitcoin. They’re…
What are NFTs? Okay. So you might have heard the term NFT, and you might wonder what exactly that means. So, let’s dive a little bit into that. NFT is an acronym that stands for non-fungible token. What exactly are non-fungible tokens, let’s break down each of those parts. So, first, what is fungible? fungible refers to, if something is perfectly interchangeable with something else, meaning if one thing is the same as another thing.…
