This means a Non Fungible Token cannot be swapped for any equivalent value. Its value is then much harder to determine, as it’s no longer simply worth five 20 dollar bills. If this 100 dollar bill is signed by Banksy, it becomes a totally unique product. A detail from Beeple’s “Everydays - The First 5000 Days,” a collage of digital images that was “minted” as a “nonfungible token” (NFT) and sold for $69.3 million. If we think of it in terms of money: a 100 dollar bill can be swapped for five 20 dollar bills and still hold the same value, which means a 100 dollar bill is a fungible token. ![]() NFT stands for ‘Non Fungible Token’, but what does that mean? Well, it helps to first understand what a ‘Fungible Token’ is. An NFT can be any type of digital file: an artwork, an article, music or even a meme such as “Disaster Girl”, the original photo of which sold for $500k earlier this year. What is NFT art?Īn NFT is a digital asset that exists completely in the digital universe-you can’t touch it, but you can own it. As a graphic designer and artist, I’m here to ask, “What’s in it for me?” Let’s begin with a definition. Its recent rise in popularity has promised to revolutionize the creative industry. From platforms like TikTok and Twitter to CNN News, the trending topic has left millions wondering, what is it and how can it work for me? In the last 4-5 months, NFT talk has literally broken the internet. ![]() If you haven’t yet heard of NFT’s or NFT art, I suggest taking a look at your wifi connection.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |