What are The NFTs are and how do they work?
NFTs (non-fungible tokens) are an asset that cannot be imitated, in the digital world that is compared to selling any other type of asset or property, but in an intangible way (soft technologies). These tokens can be viewed as certificates of ownership of virtual or physical assets.
How do they work?
With NFTs, art can be tokenized to create a digital certificate of ownership that can be bought and sold. As with cryptocurrencies, a record of who owns what is stored in a shared ledger such as the blockchain.
The records cannot be falsified because this “ledger” is securely maintained by thousands of computers around the world
NFTs can also contain Smart contracts that could provide the artist with, for example, a share of a future sale of the token.
In many cases, artists retain the copyright to sell copies of those works and thus continue to sell. But for a buyer of an NFT who holds the token, it proves that he is the original owner of the work. Some people compare it to buying a copy signed by the author.
In theory, anyone can tokenize their work to sell it as an NFT, but interest has grown following reports of multimillion-dollar sales.
In this way, each person can give a “value” to the NFT with the simple fact that they believe that it is something valuable, that is the reason for the multimillion-dollar sales.
Main characteristics of NFTs
The main characteristic of NFTs is that they are not digital assets, but pieces of digital content that will be stored on a server.
There are different value ranges for each NFT based on its rarity and exclusivity.
therefore its value is greater and may even increase over time.
They are based on two standards, the original ERC-721 of Ethereum, where NFTs began to move, and the more current ERC-1155, which allows working with several tokens at the same time through a single smart contract, unlike the original , which requires a smart contract for each token.
We have already seen some examples of NFT throughout the entire article,
- la obra de Beeple
- El primer tweet
- Coleccionables de la NBA.
- NFT del meme Nyan Cat vendido por más de 700.000 dólares.
- NFT de la primera portada de la revista Time, actualmente en subasta.
- NFT de la antología de terror Killroy Was Here del cineasta Kevin Smith, actualmente a la venta.
- NFT Vic Rattlehead: Genesis de Megadeth, una imagen del logotipo de la banda y su mascota en movimiento, vendida por 18.000 dólares.
