Reddit Twitter NFTs
Reddit may follow Twitter in letting users set their NFTs as profile photos https://t.co/EALBq4JKa1
— CNET (@CNET) January 27, 2022
Posts Tagged ‘Nonfungible tokens NFT defintion’
NFTs Non-fungible tokens
An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos. are “fungible,” meaning they can be traded or exchanged for one another. They’re also equal in value—one dollar is always worth another dollar; one Bitcoin is always equal to another Bitcoin. Crypto’s fungibility makes it a trusted means of conducting transactions on the #blockchain. NFT has a digital signature that makes it impossible for NFTs to be exchanged for or equal to one another (hence, non-fungible). An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:
- Art
- GIFs
- Videos and sports highlights
- Collectibles
- Virtual avatars and video game skins
- Designer sneakers
- Music
Twitter co-founder Jack Dorsey sold his first ever tweet as an NFT for more than $2.9 million. NFTs can have only one owner at a time. Blockchain technology and NFTs afford artists and content creators a unique opportunity to monetize their wares. celebrities like Snoop Dogg and Lindsay Lohan are jumping on the NFT bandwagon, releasing unique memories, artwork and moments as securitized NFTs.
https://www.forbes.com/advisor/investing/nft-non-fungible-token/
Non-fungible tokens
Metaverse and NFTs
“the economic layer of Metaverse will be the NFTs”
REVOREDO, T. (2021, November 14). Why are major global brands experimenting with NFTs in the Metaverse? [Financial]. Cointelegraph. https://cointelegraph.com/news/why-are-major-global-brands-experimenting-with-nfts-in-the-metaversehttps://hyp.is/go?url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fwhy-are-major-global-brands-experimenting-with-nfts-in-the-metaverse&group=__world__
what do blockchain technology and NFTs have to do with Metaverse?
it is already possible to identify some of the characteristics of Web 3.0 such as the focus on the user (and not on companies), the massive use of artificial intelligence (as a powerful tool to provide the best analysis and the best result to people), as well as distributed networks (we will no longer depend on the gigantic centralized data servers). Moreover, Web 3.0 content will be more graphical with more videos and 3D images. Also, in Web 3.0, augmented reality (AR) and virtual reality (VR) will be commonplace, bringing more realistic graphics to applications and games
In July this year, Coca-Cola launched branded virtual clothing as nonfungible tokens,
NFTs are the representation of a nonfungible asset in digital media. In a more technical definition, an NFT is a piece of software code that verifies that you hold ownership of a nonfungible digital asset, or the digital representation of the nonfungible physical asset in digital media.
It’s important to notice that NFTs existed before the first blockchain, but blockchain technology has transformed NFT markets by solving the double-spending problem and conferring scarcity, uniqueness and authenticity to a nonfungible token.
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more on NFT in this IMS blog