NFTs Explained - Everything you need know to about NFTs. #CryptoArt
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Published 2021-03-06
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[Script]
What is an NFT?
How Logan Paul sold $5 million of NFTs in two days? And how the artist Beeple made over $6.6M for one artwork with NFTs?
And you are probably wondering, what the hell is NFTS? And why you need to know about this? And how revolutionary is this for artists in any field.
at the beginning of February. I discovered NFTs. And all of a sudden I got hit by these headlines, immediately it got me hooked. At first, It was super complicated to understand as you would've probably guessed.
But after listening to hours of the clubhouse from NFTs experts and people who have been in this industry for a while. It was mind opening so I thought It would be great to share what I know with you. by making this video I'm not claiming that I'm an expert. In fact, I'm still learning.
I mean for the past 3 weeks. all I've been doing sitting on clubhouse and asking questions.
and the community is just so welcoming and it's amazing to see artists coming together.
This video will be mostly understanding how NFTs work. I will be making another video about all the technical side which I will be explaining how and where to start. Because I don't wanna mix the two. Let's take it slow.
So what's NFT?
NFT stands for Non-fungible tokens (NFTs),
Fungible means something. that you can exchange or replace whether it's physical or Digital.
Such as Money, Coins, Or cryptos like Bitcoins or Etherium.
Non-fungible means that it's a unique product that can't be replaced or exchanged. But it could be traded.
They are unique digital assets that can function as collectibles.
Some examples of non-fungible things would be trading cards such as pokemon and sports cards. game items, digital art, domain names, and even ownership records for physical assets. For example, we have Monalisa painting. It's a unique piece of art and it can't be replaced.
You can say well, I can download the Monalisa picture and print it. Hang it on my wall. Isn't it the same thing? No. It's not. Because you simply don't own the original piece of Monalisa painting.
even handles on social networks like Twitter or Instagram, These are all non-fungible digital assets
And same goes to NFTs.
What's really amazing about this is that
We have tons of digital stuff, weâve just never really owned it.
If digital ownership only means that an item belongs to you and not someone else, then you own them in some sense. But if digital ownership is more like ownership in the physical world (the freedom to hold and transfer indefinitely), this doesnât always seem to be the case with digital assets. Rather, you own these assets *in specific contexts*, which may or may not make moving them around easy. Try to sell a preset pack on eBay, and youâll discover the difficulty of moving digital assets from one person to another.
This is where blockchains come in! Blockchains provide a coordination layer for digital assets, giving users ownership and management permission. Blockchains add several unique properties to non-fungible assets that change the user and developer relationships with these assets.
so currently NFTs are built-in ETH network and as far as I'm concerned there might be options for other cryptos to join later on which is very exciting.
So what this all means.
As an artist, by tokenizing your work you both ensure that it is unique and brand it as your work. The actual ownership is blockchain-managed.
#NFTs #CryptoArt #nft #bitcoin #ethereum #crypto #loganpaul #pokemon #nfts #buy #nft #whatisannft
All Comments (21)
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Ngl i watched many videos about nfts and I "kind of" understood it..but this video was just straight to the point and helped me understand this market A LOT better, keep it upđ„
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The subtitles are a bit late. I didn't notice until I published it. Other than that. Welcome to NFTs world!
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Love your lights, clear sound & content, satisfying.
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So excited for artists like you to finally sell your art and forever earn passive income from it! Canât wait to see more 3D art bro, youâve been killing it!
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Dast xosh dlemn đđ
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You explained it really well man. I've been curious myself and it's good to know that artists have a platform like such. Waiting for the next video!
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Super helpful breakdown!
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love u kaiwan
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Great work. The location is insane!
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As always you did a good job â€
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bro this video help me a lot to understand nfts, waiting for your next video on nfts
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bro wtf a kurdish content creator that isnt shit and does clean and good editing, keep up the good work
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Thank you so much broâ€ïžnft will change my life
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it's my third time watching this video, thank u brother, and please upload another video about the technical side of making and selling them, also do you have to be famous to sell these NFTS ??? thank u
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thank you for this man. However, it would be nice to talk about how you managed to sell a art? Mostly, people upload their art and no one buy it.
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Ok I have question and this is missed in every video I watched .. Can you exchange now the tokens to real money? I mean like the 3 artworks you sold .. can you exchange them to dollars now or you have to wait years to exchange them? And nice video btw
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Good job đ
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â€ïžâ€ïž
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So it is basically royalties built-in to each sale so you always make money from every sale?
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How do we convert to digital art? Can you help with that? Thanks
