As the crypto markets go on run and ethereum price is soaring the nft space is moving slow. In this video I breakdown what common utility projects are using to stand out in this fast paced landscape. People have started stigmatizing DAO’s due to the whole daoturtles being taken off open sea. I believe every NFT project should be utilizing a DAO to handle governance in their communities. We are seeing a lot projects and founders innovate in this space but also a lot of bad actors using these pieces of utility as a buzzword to reel people in. Today’s video i breakdown each type of utility and explain how they work.
CODE IS LAW? Smart Contracts Explained (Ethereum, DeFi)
Have you ever heard the expression “code is law” where technology is used to enforce rules? In that case, do we even need lawyers? Or maybe we can live in a fully automated world where code dictates what we can and cannot do. With the current development of smart contracts, this futuristic scenario may be closer than we think.
A smart contract is a piece of code that can be executed automatically and in a deterministic way. The smart contract code is usually stored and executed on the blockchain to make it trustless and secure. Smart contracts also have capabilities of receiving, storing and sending funds and even calling other smart contracts. They follow if-then semantics which makes them fairly easy to program.
Smart contracts aim at removing the human factor from decision making. The human factor is often proven to be the most error-prone and unreliable element of the standard, traditional contracts.
Ethereum is a good example of a blockchain that supports smart contracts and make it possible for a programmer to implement their own smart contracts. A smart contract can be written in a programming language called Solidity which was created specifically for that purpose. In Ethereum, all the deployed smart contracts are immutable. This means that once deployed they cannot be modified which creates certain risks that we’re going to discuss later. Smart contracts on Ethereum are also decentralized which means there is no single machine controlling the contract. In fact, all the nodes of the Ethereum network store the same contract with exactly the same state.
Decentralized Autonomous Organisation
Decentralized Autonomous Organisation. Quite a mouthful, which is why most people just say ‘DAO’.
But what are they? What do they do? And why should you care?
Very, very good questions.
In a nutshell, DAOs provide the framework for OPEN COLLABORATION. Which, it turns out, can be incredibly productive. How productive you ask? Well, that’s what we’re here for you silly goose!
DEFI – From Inception To 2021 And Beyond (History Of Decentralized Finance Explained)
So what’s the story behind Decentralized Finance? How has all of this started? What happened in DeFi in 2020? And where are we going in the future? You’ll find answers to these questions in this video.
Although there is no one agreed-upon date when decentralized finance was born, there were a few important events that made DeFi possible.
The first of them was the creation of Bitcoin in 2009 by Satoshi Nakamoto.
Despite whether Bitcoin should be classified as DeFi or not, its inception was the key enabler for the whole cryptocurrency industry which decentralized finance is part of.
Although sending Bitcoin around the world is cool – finance doesn’t stop there. Every robust financial system needs a set of other important services such as lending, borrowing, trading, funding or derivatives.
Ethereum, with its Turing-complete programming language Solidity and the ERC20 standard for creating new tokens, quickly became a go-to smart contract platform to build on.
Charles Hoskinson On Almost Leaving Cryptocurrency Forever
Charles Hoskinson on why he almost never started Cardano ADA. Cardano ADA is a popular cryptocurrency. It is similar to Ethereum and not Bitcoin. Many people believe that cryptocurrency is the future of our world and Cardano ADA is leading that fight. They have a few significant updates that are coming out that will make it a very good blockchain. However, this video is more about Charles Hoskinson and how he almost quit cryptocurrency forever. The reason is he did not have a lot of success in the early projects that he was involved with. First, the work that he did with Bitcoin did not work out. Second, there was not a great fit with Ethereum either. Eventually, he was able to work with Cardano and get that started
What is an NFT? (Non Fungible Token) | What does it mean?
From art to music, to NFT of famous tweets, yes you heard it right, these digital assets are being bought like a 14th-century Roman artifact. But are NFTs worth all the hype and well, money? Many analysts believe they won’t last long. But many others claim that NFTs are here to stay and will forever transform investing. But first, what in the world is NFT?
Can Books be an NFT | Non-fungible Tokens (NFT) Explained
Can books become a non-fungible token? Based on a published author’s perspective, can assets like books utilize blockchain technology to change how royalties are distributed and resales are tracked. If you’re an author, you’ve been here before, when you’ve finally published a book, and all of a sudden, when you go to optimize your keywords on search, you find out that other people are re-selling your books via secondary markets, such as eBay. In this video, I explain what NFTs are from an author’s perspective and how might NFTs change the game for authors and publishers.
The NFT Bubble Has Already Burst
The NFT market was heating up faster than Steph Curry in an open gym, but it appears to have already burst.
Thanks to the research by the crew at Protos, they found that The NFT market has imploded over the past month, with sales in every single category almost entirely drying up.
NFTs peaked on May 3, when $102 million worth were sold in a single day. The crypto-collectibles market made up $100 million of those sales.
But according to data analyzed by Protos, just $19.4 million in NFT sales were processed in the past week.
Overall, $170 million in NFTs were transacted in the seven days surrounding the market’s top — a near-90% collapse.
CryptoPunks have been selling for as much as $7.5 million each, with many going for over $1 million.
NBA Top Shots selling for multiple hundreds of thousands of dollars. And many collectible NFT’s going for just as much.
Has the NFT bubble already burst?
How to turn your art into an NFT – Step by Step Tutorial
Looking for ways to turn your art into a NFT? In this short step-by-step tutorial I show you how to create and list a non-fungible token on Rarible and Opensea. Listing is free on both marketplaces, except gas fees that occur on every interaction with the Ethereum blockchain. Furthermore, you learn how to store a unique and immutable highres version of your work in the IPFS network and how to include the unique link as unlockable content in the smart contract.
What Are NFTs and How Can They Be Used in Decentralized Finance? DEFI Explained
NFTs stand for non-fungible tokens and they are one of the types of cryptographic tokens that can represent ownership of digitally scarce goods such as pieces of art or collectibles.
“Non-fungible” is not a very popular word so let’s see what it really means.
In economics, fungibility is the characteristic of goods or commodities where each individual unit is interchangeable and indistinguishable from each other.
Although NFTs can be implemented on any blockchain that supports smart contract programming, the most noticeable examples are ERC-721 and ERC-1155 standards on Ethereum.
When it comes to DeFi, NFTs can unlock even more potential for decentralized finance. Currently in DeFi, the vast majority of DeFi lending protocols are collateralized. One of the most interesting ideas is to use NFTs as collateral. This means that now you’d be able to supply an NFT representing a piece of art, digital land or even a tokenised real estate, as collateral and borrow money against it.