Yeah!!! Watched that also. These are a really big deal, at the...

Yeah!!! Watched that also. These are a really big deal, at the very least they have the potential to be a very big deal. Have seen more and more on them over the last few weeks.

I think the best part about NFTs is they show the power of using the blockchain as means for creating unique digital items.

For anyone who doesn't know an NFT (Non-Fungible Token) is basically a digital way of representing a "one of a kind item". So at the moment a lot of people have being selling digital art as NFTs. Of course you can make a copy of the digital art (and it will be the same) but only one person can be the true owner of that item. This ownership is stored on a blockchain. A blockchain is simply a way of storing a set of ever increasing data in a way that can't be mutated (or changed). This could be a list of money transactions (in the case of Bitcoin)... or literally anything.

The "Non-Fungible" part means that the token has no specifc value, unlike say Bitcoin where 1 Bitcoin is always has a specific worth. I like how Yat Sui explained the idea of how something that is passed down in a family, or something that had a lot of heritage gains value because of its unique journey and now NFTs give the ability for digital assets to function like this.

Here's the video @VictorLudorum is speaking about:


Some good reading:

• Blockchain: https://www.investopedia.com/terms/b/blockchain.asp
• NFTs: https://www.npr.org/2021/03/05/974089381/whats-an-nft-and-why-are-people-paying-millions-to-buy-them