TheVigilante
Banned - Multiple Rules Violations
- Aug 31, 2010
- 14,993
- 16,105
If you’ve been keeping track of viral trends lately, you’ve probably heard of NFTs.
At least, you’ve likely heard of NFTs even if you didn’t realize it.
Like, you may have heard of this Gucci Ghost animation selling for $3.6k. Or, maybe you watched the strange Beeple video that sold for $6.6M.
Put simply: An NFT is a unique digital token, or item. That can be a video, an animation, or anything, really. Think of an NFT as a rare baseball card or collector’s item.
But why buy one? The videos and animations that are selling can be downloaded by anyone. In effect, the copy of the NFT that you buy is no different than what anyone can download, for free.
But, when you buy one, you get ownership of the item. So although your copy isn’t different from anyone else’s, you technically own the original.
As Mitchell Clark in The Verge puts it, it’s like wanting to buy the original copy of a painting, rather than its reproductions.
Source: https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
At least, you’ve likely heard of NFTs even if you didn’t realize it.
Like, you may have heard of this Gucci Ghost animation selling for $3.6k. Or, maybe you watched the strange Beeple video that sold for $6.6M.
Put simply: An NFT is a unique digital token, or item. That can be a video, an animation, or anything, really. Think of an NFT as a rare baseball card or collector’s item.
But why buy one? The videos and animations that are selling can be downloaded by anyone. In effect, the copy of the NFT that you buy is no different than what anyone can download, for free.
But, when you buy one, you get ownership of the item. So although your copy isn’t different from anyone else’s, you technically own the original.
As Mitchell Clark in The Verge puts it, it’s like wanting to buy the original copy of a painting, rather than its reproductions.
Source: https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq