0liveirafelp
Newbie
- May 6, 2021
- 49
- 19
for a few days i've been seeing a lot of people talking about nfts... from what i've seen are simple arts that people have paid thousands of dollars for.
what are nfts and what is it for?
- Thread starter 0liveirafelp
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RRunner
Power Member
- Sep 14, 2019
- 665
- 1,037
The NFT is not the artwork. The NFT is the token that determines "ownship" of the art.
Anyone can download a copy of the art (r-ckick-save-as) but ony the person who owns the NFT owns the original.
Just like anyone can buy a poster of the Mona Lisa and hang it at home but there is only one original painting.
NFT = Non Fungible Token controlled by the blockchain. The difference between NFT's and regular coins is that NFT's are uniquely identifiable and can therefore be linked to an item to determine unique ownership.
This has implications for other products where ownership is of key importance such as vehicles, real estate, etc.
Anyone can download a copy of the art (r-ckick-save-as) but ony the person who owns the NFT owns the original.
Just like anyone can buy a poster of the Mona Lisa and hang it at home but there is only one original painting.
NFT = Non Fungible Token controlled by the blockchain. The difference between NFT's and regular coins is that NFT's are uniquely identifiable and can therefore be linked to an item to determine unique ownership.
This has implications for other products where ownership is of key importance such as vehicles, real estate, etc.
0liveirafelp
Newbie
- May 6, 2021
- 49
- 19
I don't understand much about this market, but how to get nfts? is this a form of investment?
0liveirafelp
Newbie
- May 6, 2021
- 49
- 19
is it difficult to create them?
RRunner
Power Member
- Sep 14, 2019
- 665
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You get the NFT by buying from an NFT marketplace.
I have a few packs of NFT "moments" from NBA Top Shot. Lots of speculation in that marketplace with some moments selling for 6 figures. But also complaints that it's hard to actually cash out from the platform.
There are a number of sites where you can buy/sell digital art like OpenSea and Rarible.
A lot of "artists" are creating NFT art trying to cash in. Lots of copyright infringement right now too. But also a lot of nice stuff.
90% of this crap is going to 0 but there are a few artists that are generating true demand.
Here are some known artists:
https://www.nftsstreet.com/most-popular-nft-artists/
I really like Maddogjones, especially his cityscapes and street scenes...
https://cryptoart.io/artist/maddogjones
Unfortunately, I don't have a few extra million lying around to buy any.
downwii
Junior Member
- Jan 4, 2012
- 117
- 53
They are very similar to basic ERC20 type tokens. What makes difference is while in case of ERC20 type tokens each token is the same. Such as you got 5 SafeMoon tokens, those tokens will be the same compared to each other, in other words they are fungible. NFTs (Non-Fungible Tokens, ERC721) are different compared to each other. Think of like the SafeMoon tokens above, however each token has an ID and that makes them different to each other. That's an extra that you can use an off-chain network to store for example images, which isn't on the blockchain because storing bigger data can be expensive on blockchain. This off-chain network is called IPFS (InterPlanetary File System). Shortly, this is a P2P network and you can use it to store and verify the original content, in most cases images. On the blockchain, in NFT smart contracts you can create a reference to this IPFS content. This 2 main component gives together the NFT you mostly likely experience. I hope this helps. Currently, you can make shit ton of money with NFT presales. You just need a solid landing page, a generative art software and the smart contract then proper marketing. Imagine you sell NFTs for 0.05 ETH each, you sell 5000 and you got 250 ETH...
0liveirafelp
Newbie
- May 6, 2021
- 49
- 19
thanks for the explanation, i'll take a look at the links
Another form of massive scam/pyramid
stantheman383
Newbie
- Jul 1, 2021
- 15
- 2
boggles the mind how people can determine the value of something so trivial. I imagine its a ponzi amoung the elite.
BlueCatServices
Banned by request of the account holder.
- Apr 4, 2020
- 487
- 487
Excellent way to get a gambling addiction, lose all your money, end up in deep depression and commit suicide
JavascriptPufferfish
Supreme Member
- Sep 13, 2019
- 1,381
- 2,056
i would add that NFTs on solana are having a great moment right now. solana is fast and has practically no fees (eth can get nuts with fees). your best bet is usually mint them. most NFTs on solana are going by 5 sol per mint (would be 620usd right now). i think NFTs will reach their true potential when they start getting merged with crypto games
Skyhighseo
Newbie
- Jul 31, 2021
- 27
- 3
Have anyone heard about NFT games?
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
- 6,032
After a few (2 to 3) years, your airline tickets will be as an NFT, your certificate of authencity for your Nike shoe will be as an NFT, your warranty card for a new washing machine will be as an NFT, your ticket to that event, ticket to that baseball or cricket match, would all be as an NFT. After a few (2 to 3) years almost everyone will be handling NFTs on a daily basis.
- Nov 16, 2011
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It is digital art. You can sell it to someone, I mean transfer the ownership for some price.
xReminisce
Elite Member
- Dec 29, 2012
- 7,338
- 36,669
No, NFT does not have to be a "Digital Art"
But more as "Digital Objects" where its
- Art
- Videos/Meme/Gifs
- Collectibles
- PFP
- Video Game Skins
- Music
- Even Status Updates like a Tweet
possibility is endless
- Status