The term irreplaceable symbol brings a mixture of feelings depending on who you ask. Unchanging NFT tokens combine the realms of time-based, blockchain-enabled, decentralized, slim, trusted, and most importantly pro-artist media art.
Unchanged Token (NFT) is unique and can represent any digital asset in the Ethereum blockchain, making it rare, provable and valuable.
The advent of the NFT created a new way for artists and creators to display their creations or collections. On the other hand, the revolution paves the way for artists to create and make money from their work, while collectors are completely transparent about the authenticity of their purchases.
NFT assets can take the form of digital art, collections, a creative expansion of music, synergies between the three or completely new and unexplored compositions. Content creators continue to push the boundaries of creativity by using and adapting NFT technologies in new and innovative ways.
Who created the first “NFT”?
The story of NFT and the man who first created it, Kevin McCoy, began on May 3, 2014. He produced his unchanging token, Quantum, before the cryptocurrency market exploded.
A sleeve is a dotted image of an octagon filled with circles, arcs or other shapes that share the same center, with larger shapes surrounding smaller shapes and magnetically pulsating with fluorescent colors. Today, the special “quantum” artwork (2014-2021) is on sale for $ 7 million.
Kevin McCoy and his wife Jennifer have been established for many years as high-end digital artists. “The NFT phenomenon is a deep part of the art world,” says McCoy. It came from the long history of artists dealing with creative technology. ” Historically, their works have been purchased by enthusiastic art collectors – instead of engaging in public offering wars, McCoy prefers to sell in galleries or in the “peer-to-peer” format. His work is on display at the Metropolitan Museum of Art.
Who can create NFT?
Anyone from artists to entrepreneurs, art advocates, companies, authors, videographers and social media personalities can create an NFT. No experience is required and as long as someone can prove they have created or legally owned the content, they can issue an NFT.
What makes NFT special?
- Rarity: NFT derives its value from rarity, as high demand for something limited and rare increases its value.
- Indivisible: The NFT code is one and you can not split it, for example, you can not sell a part of a painting, or buy it in full or leave it.
- Unique: No job can be found that matches another.
- Authentic and guaranteed: Each NFT token contains complete information, such as the date of creation and its owner, and all information is registered in the blockchain, which is impossible to falsify.
- Convertible: NFT tokens can be bought and sold in certain locations, mainly using Ethereum currency.
The popularity of “NFT”
Given the recent popularity of NFTs and their high selling prices, it is easy to see parallels with the fury of ICO projects. But in fact they are two very different things.
When it comes to immutable digital currency (NFT), works of art and collections do not lag far behind.
His NFT “Every Day – First 5000 Days” sold at auction for nearly $ 69 million.
NFT is very popular, but the topic is much deeper.
How is the rarity and value of NFT determined?
Determining the value of an NFT depends on what it represents. When it comes to the art of coding, it is quite similar to any other kind of art. We need to think about who created it, the artistic value of the work, and how much is required of other collectors.
Where can I buy NFT?
If you want to explore the NFT on offer, there are several different places to start your search. NFT markets have a variety of non-exchangeable currencies for sale, from famous artists and hobbyists.
There are many to choose from, but some of the biggest ones are OpenSea and Treasureland based on Ethereum or BakerySwap on Binance SmartChain.
The number of markets continues to grow, some more specialized than others.
How do you check the authenticity of NFT?
Examining your NFT legitimacy can be a bit tricky, depending on what you are looking for. Undoubtedly, people charge another artist’s work and claim to be themselves. In this case, you will need to contact the artist to confirm that they have sold their work in NFT format.
The NFT creator must provide you with some kind of ID to verify it. Much of the work will involve viewing your NFT in a blockchain explorer such as BscScan.