Thoughts on NFTs
It’s very seldom that an idea is so good, that it can take over your mind and prevent you from getting decent sleep.
I haven’t been able to get a decent night’s rest, Tossing and turning on my bed, while I don’t wake up in sweating thru the bed. This has never happened to me up until now.
The reason: NFTs — Non-Fungible Tokens.
What are NFTs?
I am by no means an expert on NFTs, in fact my knowledge about it is infantile at best, but from what I reckon:
My understanding is:
NFTs are a way for a digital creators to sell the rights to his work to another person, thru the use of blockchain.
This came from Opensea.io:
Non-fungible tokens (NFTs) are unique, digital items with blockchain-managed ownership. Examples include collectibles, game items, digital art, event tickets, domain names, and even ownership records for physical assets.
Why is everyone in tech talking about NFTs?
Before the invention of the NFT, there was no way of selling digital artwork online, images, videos, or anything digital because of its nature, how do you sell a digital good, more importantly a byte?
NFTs, showed us a way to make the unlimited, limited.
But why do we want to do that? It’s a way to credit the digital creators.
NFTs are breaking the barriers for art, and artists alike. Thru NFTs, digital artists can now make money from their creations.
Being a digital creator, it’s a way to sell your digital work online sans piracy. Once sold, rights are transferred via the blockchain, so there’s a real actual contract and transfer.
From the person who ‘minted’ said art to the patron who was sold the art, and if said patron would want to resell the artwork. — all traceable thru the blockchain
It’s an amazing piece of technology.
And I want in on it.
Tinder for Creators
The amount of artists on these platforms is tremendous but the amount of collectors is more than the artists.
Websites like niftygateway.com, rarible.com, opensea.io are exactly like tinder but for patrons and creators.
The amount of money being traded in these in NFTs range in the hundreds of thousands of dollars, I know of a local artist who raked in 350,000.00 in 1 night!
Limitless Potential
The more I learn about NFTs, the more it’s changing the way I see the internet.
It’s like seeing the matrix.
Imagine being able to own a moment! Not a video of a moment, but the moment!
It’s mind blowing.
Infnite is now a limited edition.
New Found Technology
This obsession about NFTs is eating me up!
I just can’t stop thinking about it, how can I get into it?, what can I make?
But more importantly, what else can I add?
