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The ability to create something in real-life, tokenize, and then complete a secured transaction on a blockchain and while preserving your rights is what this technology is all about. Let’s get a better understanding.
Before we delve into NTF tokens and art, I’d like to address the long silence in writing. Unfortunately, I became quite ill. Crypto in general was just not a priority for me, nor was writing about it. That is over now, and the industry has come a long way. So, let’s get back to it!
If you ever followed my earlier articles, I always expressed a lot of interest in token with intrinsic purpose. But, when when writing then, there were more ideas than there were actual tokens with a real purpose. And, as expected, a lot of the tokens that intended to have purpose then (cough ET4) are non-existent! This article is intended to help understand what NFT (non-fungible tokens) tokens are and understand their purpose.
Non-Fungible Tokens
The ability to create something in real-life, tokenize, and then complete a secured transaction on a blockchain and while preserving your rights is what this technology is all about.
Non-fungible tokens, are assets that may represent an item. These assets are built on Ethereum standards (ERC-721 and ERC-1155.) The item can be physical (something you can see and touch) or virtual. Think of it as a baseball card. Every card is unique, there may be more than one copy, but each individual card, is itself its own entity. The card can be held…
