Yes dear friends, the world around us evolves and changes at the speed of light and if you do not keep up with the changes you risk remaining fossilized in concepts that have now become obsolete and deleterious for your personal growth.
Today I would like to explain to you in very poor and simple words this new frontier that is opening up in digital art or the conversion of one's works into NFT.
But what is a non-fungible token (NFT)?
To make you better understand the difference between fungible and "non" fungible I will take as an example the banknotes which by definition are fungible, but let's understand why ... If tomorrow I exchanged my € 50.00 banknote for a € 50.00 banknote from my boyfriend's wallet the composition of my assets would not change because each € 50.00 banknote has an identical value!
On the other hand, a painting like the "Mona Lisa" is a unique piece and there is no other identical in the world. It can be sold for money, but it cannot be exchanged for another identical painting of the same value.
Each work of art is defined as "non" fungible precisely because it cannot be exchanged for a generic good of identical value.
We can therefore define NFT works as unique cryptographic tokens that thanks to the use of the famous "Blockchain" technology (the same used by the famous cryptocurrencies) certifies who is the creator of the digital work.
What does this mean? Basically if I were to create an NFT and sell it, it will remain written in the history of the Blockchain that the creator of that work was me and through the creation of the smart contract I could benefit from a fixed royalty (to be specified when creating the NFT) whenever it is resold by future owners.
What does a person gain from buying an NFT?
Basically, those who buy an NFT "collect" digital works of art by acquiring the "right to boast" of owning the work digitally or simply glimpse a potential source of income by reselling the work in the future at a higher market price.
I find that the NFT market is growing rapidly, thanks to new technologies, it is moving towards a direction in which one's creations will have an indelible digital mark in which copyright will always be recognized, we are at the beginning of a new era, let's not close up like a hedgehog but open our mind to new horizons ...
Friends, I was very reductive but in broad terms I hope to have lightened your ideas on this new frontier slightly, the purpose was to open a curiosity in you ... What do you think?
Chiara
Today I would like to explain to you in very poor and simple words this new frontier that is opening up in digital art or the conversion of one's works into NFT.
But what is a non-fungible token (NFT)?
To make you better understand the difference between fungible and "non" fungible I will take as an example the banknotes which by definition are fungible, but let's understand why ... If tomorrow I exchanged my € 50.00 banknote for a € 50.00 banknote from my boyfriend's wallet the composition of my assets would not change because each € 50.00 banknote has an identical value!
On the other hand, a painting like the "Mona Lisa" is a unique piece and there is no other identical in the world. It can be sold for money, but it cannot be exchanged for another identical painting of the same value.
Each work of art is defined as "non" fungible precisely because it cannot be exchanged for a generic good of identical value.
We can therefore define NFT works as unique cryptographic tokens that thanks to the use of the famous "Blockchain" technology (the same used by the famous cryptocurrencies) certifies who is the creator of the digital work.
What does this mean? Basically if I were to create an NFT and sell it, it will remain written in the history of the Blockchain that the creator of that work was me and through the creation of the smart contract I could benefit from a fixed royalty (to be specified when creating the NFT) whenever it is resold by future owners.
What does a person gain from buying an NFT?
Basically, those who buy an NFT "collect" digital works of art by acquiring the "right to boast" of owning the work digitally or simply glimpse a potential source of income by reselling the work in the future at a higher market price.
I find that the NFT market is growing rapidly, thanks to new technologies, it is moving towards a direction in which one's creations will have an indelible digital mark in which copyright will always be recognized, we are at the beginning of a new era, let's not close up like a hedgehog but open our mind to new horizons ...
Friends, I was very reductive but in broad terms I hope to have lightened your ideas on this new frontier slightly, the purpose was to open a curiosity in you ... What do you think?
Chiara