BITCOIN, BLOCKCHAIN and NFTs. (BRIEFLY)
Today, it is almost impossible for many to realize the very fact of the existence of small pieces of code, at a price exceeding the entire capital earned over a single human life.
Nevertheless, a digital painting by artist Michael Winkelman (known as Beeple) was sold at Christie's auction in the form of an NFT token for $69.35 million.
Meanwhile, Blockchain company Injective Protocol bought Banksy's work to destroy it and turn it into a virtual asset in the NFT (non-fungible token) format. Banksy's Auction Print "Morons (White)" was purchased for $95K from New York's Taglialatella Gallery. The print burning was broadcast live via the Burnt Banksy Twitter account. Moments later, the staff at Injective Protocol created a digital original of the work using blockchain technology on OpenSea. The work was sold for three times the price.
03/15/21 Elon Musk posts an NFT token on his Twitter account with a message to the whole world, which means "Hold" - do not sell tokens. "Computers never sleep and the safety of information will be guaranteed."
He puts up the token for sale at an initial price of $1 million, but a day later he refuses to sell (although many bets were made), showing that he needs to continue to “Hold”. Also, he started selling his cars for Bitcoin. Bitcoins from the Tesla account will not be withdrawn and resold.
In an interview with Dmitry Gordon, multibillionaire Mark Ginzburg says that he keeps a huge part of his capital in cryptocurrencies, and he bought Bitcoin a very long time ago and never sold it.
The Rarible Non-Fungible Token Exchange (NFT) has unveiled a line of Nomine(eth) tokens dedicated to the 2020 Oscars Film Awards.
Winners in the top five categories at the Oscars 2021 will each receive one of two NFTs. The second token will be put up for auction for everyone.
According to the company, the essence of the collection is that only the Oscar winner and the winner of the auction will be able to own these NFTs.
Well, and for the final - the capitalization of cryptocurrencies, at the time of writing this text, exceeded 2.15 trillion dollars. https://coinmarketcap.com Thus, we see that against the backdrop of everything that is happening in the world, cryptocurrencies simply “burn” fiat currency. More and more people (already very large players) see salvation in it. She justified herself. She is inevitable. With all attempts to ban and hack, she resisted.
The goal of most crypto projects is simply a currency, a way of exchange. We, as a community, will create unique value. The asset price of which in the near future may be equal to the well-known Bitcoin.
What is NFT (non-fungible token - non-fungible token)?
There is a blockchain technology on which Bitcoin is based. It fully corresponds to its name (Blockchain), as it is very similar to a chain of pieces of information, where the key at the end of the code must match the key at the beginning of the next piece of code. Thus, a long chain is formed that cannot be broken, and it is impossible to replace a link in it.
Everything would be very simple, if not for one BUT! There is the Internet. And a lot of computers that have a copy of this circuit. Thus, information is not centralized in one place, but duplicated many times on millions of computers. It is possible to enter any information into such an information registry only with the consent of all the "checking" computers, they must check their chain and confirm that everything is in order with it and it corresponds to all other copies of the chain.
Imagine an endless tube into which you endlessly put peas. While the last pea on top of the tube is still visible, you can still get it, but as soon as another pea is placed on top, the bottom one cannot be changed. Information that has entered the Blockchain network will remain there forever in its original form. Not a single byte, not a single bit in this chain of information will ever change.
Thus, everything that happens in the Blockchain stays there forever.
In Bitcoin, information about transactions is transmitted in a similar way.
Earlier on the forums, in all seriousness, they discussed that aliens gave us blockchain technology.
But this is not the only way to use Blockchain.
Here we should pay attention to tokens. They are of two kinds. Interchangeable and interchangeable.
An example of fungible tokens is our fiat money. This means that one hundred 100$s are completely equal in value to others 100$ although they differ in number. Dollars can replace each other without changing the value. They don't have a history.
But there are tokens that are not interchangeable, for example, a MONET painting and a MANET painting seem to be similar, but the price is different. They cannot replace each other. These, one might say, tokens are different in price and rarity, according to the stories associated with them.
If we transfer all this to the Blockchain, then we will get NFT - a non-fungible token.
This token, which operates in the second most popular network in the world after Bitcoin, Ethereum, is capable of carrying information in a graphic, audio or video format, a text document or a 3D model.
The magic begins where it becomes possible for an artist or a creative person to create such tokens himself, enter any kind of information into them and send them forever sailing on the ocean of information, remaining in its original form. But that's not all. At the time of creating the token, you specify how many equal originals of the token you invest in this blockchain. Then you assign the cost of the work. Tokens created in this way can be transferred from wallet to wallet, and their owners know for sure that their piece of code is unique. Depending on the uniqueness, quantity and originality of such tokens, then the price at auctions depends.
What is and how does BLOCKCHAIN work. Briefly and clearly.
Quite intelligibly about NFT and BLOCKCHAIN.
Documentary about smart contracts ETHERIUM, BITCOIN, BLOCKCHAIN. Vitalik Buterin.
About NFT is very intelligible, but in English.
More about NFTs.
Again NFT 2.