NFT digital art sales generate headline after headline, though this is not the real mass-market use of this novel technology.
What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well.
In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such.
Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
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NFTs are the new darling in the world of gaming, transforming it into an entirely different universe.3146
A blend of contemporary popular culture, nostalgia and empowerment will be the main themes of the NFT exhibit.1743
Major Japanese cryptocurrency exchange Coincheck launched its own NFT marketplace back in March 2021.3105
According to the game's developers, it's the largest sum ever paid for virtual real estate.15806
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Celsius CEO Alex Mashinsky said that the oversubscribed $750-million funding round was a “very good indication” of the strength of the company’s lending and yielding brand.10523
The attack is the latest in a long string of exploits targeting users on Discord with fake “stealth” NFT drops.6407