NON-FUNGIBLE TOKENS

WHAT IS A NFT?

 

 

A question that’s getting increasingly popular.

Let’s take a look.

 

NFTs, or Non-Fungible Tokens, are a new type of technology that enables art to be created, stored, transferred and experienced in brand new ways. The technology is built on “blockchains”, unlocking new capabilities including:

  • Provenance – the technology can prove, without doubt and without fail, who owns a piece of art

 

  • Proof of Authenticity – unlike traditional art that can be faked or fraud, blockchain technology instantly proves without doubt the authenticity of any piece

 

  • Uniqueness – while anyone can “right-click and save” just they anyone can hang a poster of the Mona Lisa, blockchain technology proves which one is the unique and real one

Want to learn more?

LIMITED

NFTs often are limited edition

Provenance

The technology can prove, without doubt and without fail, who owns a piece of art

Proof of Authenticity

Unlike traditional art that can be faked or fraud, blockchain technology instantly proves without doubt the authenticity of any piece

Uniqueness

While anyone can “right-click and save” just they anyone can hang a poster of the Mona Lisa, blockchain technology proves which one is the unique and real one

Relationships

Artists know which wallets own their NFTs and sometimes begin to build relationships

Redefining Art

NFTs Represent Creativity

An NFT is technically a token – some data that lives on the blockchain.

What does that token represent?

It’s up to its creator. 

A Non-Fungible Token can represent words, a picture, audio. It can represent a complex game – yup, some NFTs are full games that can be played. It can represent a membership to a club.

The definition of an NFT is limited only by the minds of all human and computer creators (yes, there is AI that makes NFTs).

The artwork in this background is from a collection called Verse-Scape.

In fact, this specific piece of art was generated by a human & computer combination. 

The artist provided some artwork and some instructions, and the computer did the rest.

This category of art is called “generative art”. 

It results in many pieces of art, with some differences, that look and feel like a cohesive set.