This video on “What is NFT” covers all the important concepts of NFTs like What are NFTs?, What are Non-Fungible Tokens, how do NFTs work, how are NFTs different from other cryptocurrencies working in the same Blockchain Technology, how NFT became so popular and what future NFTs hold for the world’s economic system.
How To Sell Music NFTs | The FUTURE Of Music Explained | Ditto Music
In this video, we’ll explain how to sell music NFTs, what NFT actually means and introducing you to an exciting new NFT platform called Opulous that anyone can use to connect with the fans and raise money to invest in their own music career.
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 is an NFT? Explained in 4 minutes!
NFT’s are an innovation in the blockchain/cryptocurrency space that allows you to track who owns a particular item. Something tricky with digital files because they can easily be copied. NFT’s are essentially smart contracts that live on blockchains like Ethereum, Flow, or Tezos. They can also be programmed to give the creator a royalty of every sale of his NFT.
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.
What is an NFT? (Crypto Beginners)
So I’m going to describe what an NFT is in the most basic terms as I can.
NFT stands for Non Fungible Token.
Fungible means something is able to be exchanged or substituted and will hold the same value. It’s interchangeable like the dollar, gold, casino chips, bitcoin, ethereum or frequent flyer loyalty points.
If I lend you 10 dollars cash and you return to me two 5 dollar bank notes, I’m fine with that because even though they are different, they hold the same total value.
So non-fungile obviously means it’s an asset that can’t be substituted. It has unique attributes that makes it different from something else in the same asset class. Like a painting, a theatre ticket, a house, a video game skin, a trademark or a CryptoKitty which was the first real use case to take off on the Ethereum blockchain in 2017.
Some of these assets are physical and tangible and others are digital and intangible.
So NFTs are non-fungible tokens. ‘Token’ refers to a digital certificate stored on a secure distributed database called a blockchain.
NFTs are digital assets. Publicly verifiable intellectual property authenticated on a blockchain.
A popular place to currently browse a variety of NFTs is on http://OpenSea.io
It’s an exciting space, I believe the NFT space will continue to grow in the coming years with some popular use cases being: Digital Art, Virtual Land, Gaming, Collectibles, Finance and much more.
I thought this was worth explaining because I think we’ll be talking a lot more about this in the coming years.
If you’re also interested about the future of art and design like I am then come follow me on my channels.
The Early Signs of NFTs Say They Will Be Way More Than “Just Art”
Non-fungible tokens have only just started. All these different art pieces and graphic designs selling on the blockchain is really just the beginning of what this technology will be able to do for us in the future. I sat down with Jacob Willemsma & Liam Horne of “NFT Hack” to talk about where I see this technology heading, the signs from other disruports that are apparent with NFTs, what industries will adopt by the technology, and more!
GaryVee and Mark Cuban on How History Has Already Proven That NFTs Are Here To Stay
During a recent episode of “Marketing For The Now”, Gary Vaynerchuk and Mark Cuban sat down to talk about their long history with innovative technology, how they remember it is initially received by the public and the similar patterns they are seeing with the introduction of NFTs (non-fungible tokens) and Web 3.0.
NFTs For Beginners in 45 minutes
The” Non-Fungible Podcast” hosted by DKleine to talk all things NFT. This is a fantastic interview for anyone who is just getting started learning about NFT’s. We discuss the culmination of life events and interests that drew me to NFTs and CryptoArt in particular and I provide the broader implications of non-fungible tokens and blockchain technology.