NFTs Explained - Everything you need know to about NFTs. #CryptoArt

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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, we’ve 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 doesn’t 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 you’ll 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

YouTube url:	https://www.youtube.com/watch?v=YkHdFVgwC6w&t=404s
Created:	6. 4. 2021 21:48:45

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NFTs Explained - Everything you need know to about NFTs. #CryptoArt