3/4/2023 0 Comments Non fungible tokens examples![]() NON-FUNGIBLEįungibility basically means interchangeable any two units that can be evenly exchanged are fungible. Once tokenized, these assets can be bought, sold and traded using cryptocurrency. Basically, any type of media can be minted or tokenized and turned into an NFT: art, trading cards, memes, gifs, video clips, audio clips, tweets, this article - anything. NFTs are best understood as unique digital assets, and they exist in a variety of industries from digital art and virtual real estate to collectibles, gaming and more. NFT stands for “non-fungible token,” but what the hell does that actually mean? Check out this comprehensive beginner’s guide from One37, but I’ll give you a breakdown from my own POV here: That being said, I truly hope this article will be a foundational guide for any of you who are green to the NFT space, or who simply want to understand my take on just how significant this shift really is. I’m here to respect the landscape and learn, first and foremost, and I encourage you to do the same. I’m entering the NFT arena with a lot of enthusiasm, but also with tons of humility and respect for those who have truly been in the dirt. There have been countless hours spent discussing and going down rabbit holes with some folks just as amped up as I am - people like Scott Belsky, Kevin Rose, Matty aka DCLBlogger and more. Stay tuned for more on that later □.įor now, understand that I’ve only just begun talking publicly about NFTs, but I have spent the last few months watching, listening, and learning. Like entrepreneurship, wine, sports cards and social media, they’re going to become another “home” that will allow me to present a side of myself that many of you don’t normally see. For me, NFTs are the coalescence of many of my lifelong interests: collecting, trading/flipping, business, creativity and building community. Big statement - I know - so let me tell you why I’m so excited. Like the internet in the 1990’s or social media in the early 2000’s, NFTs will go down in history as one of the most significant things to happen in modern technology and culture at large. I knew that many wouldn’t understand because they weren’t able to look past the present moment, but NFTs are a reflection of behavior from a macro human standpoint, and they’re about to cause a bigger wave than anyone could have imagined. What these observations told me was that as technology advances, the things we own in digital form would become the new conversation starters. It’s why the fashion industry exists - if we weren’t compelled to send each other messages through the brands and logos we wear, everyone would be dressing the same. I understood that our lives were becoming more and more digital and I realized that human beings need to communicate through our purchases. On a much larger level, however, I watched people spend real dollars to buy virtual sheep, and it flipped a switch in my mind. On a micro level, Farmville was just a silly game where people planted virtual crops. In fact, with the exception of blockchain (which I of course didn’t see coming), I’d even say NFTs were top on my mind back then. Almost ten years ago, I named “virtual currency” as the next big wave. For me, NFTs represent a revolution that has been a long time coming. ![]() For many, the jury is still out on NFTs and the impact that they will - or won’t - have on society. We are in the early days of the NFT world - I’m talking prehistoric - and with that has come both incredible enthusiasm and skepticism.
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