Why did NFT occupy Silicon Valley?

Over the past few weeks, you may have imagined the reasons behind the high value of these digital images. NFTs are unique entities that cannot be replaced by other things. These tokens are a unit of data on the blockchain, with each NFT representing a unique digital item. It has already gained ground among artists, game developers, and other professionals who deal with the work of authors. This concept is also useful for several other problems. We introduce you to some of the possibilities of this technology, and how to implement your own NFT.

After seeing news of Grimes getting a million dollars or Nyan Cat being sold, you might have imagined the reasons behind the value of these digital images. We've seen several pieces of news explaining what an NFT is. What is seldom discussed is that the technology is about more than digital images swapped for massive amounts of ether.

NFTs can represent digital files such as art, audio, video, props in video games, and other forms of creative work. They are a unit of data on the blockchain, and each NFT represents a unique digital item. This concept is useful for several practical problems.

Kia America launched the NFT digital collection series "Legends of the Driveway" on the Polygon blockchain: Jinse Finance reported that Kia Motors America launched the NFT digital collection "Legends of the Driveway (Legends of the Driveway)" on the Polygon blockchain. There are 2,023 collectibles, each incorporating more than six traits, and holders also have the chance to win a trip to the 2023 NBA All-Star Game weekend. It is reported that if the NFT series is resold in the secondary market, the additional income based on 90% of the purchase price will benefit the non-profit organization MobilizeGreen. [2022/11/30 21:10:56]

The main advantage of the technology is the guarantee of authenticity, which does not imply additional costs or the need for a regulator. NFTs can help solve existing intellectual property issues. Not only that, but they generate revenue for a segment that is difficult to control ownership today. In this article, we will introduce you to the possibilities of this technology and how to apply your own NFT.

In September 2020, artist Matt Kane sold a work of art for $100,422. It would hardly have made news, but because of the right time and place, the event attracted attention for being the first crypto art creation to cross the $100,000 barrier. Each NFT is a unique token on the blockchain. Most NFTs are implemented on Ethereum, but it doesn't have to be.

Pan Helin: In the future, there may be several companies with a market value of more than one trillion yuan in the field of NFT or Metaverse: Golden Financial News, Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center, said that we may be able to achieve this before 2040 Feel the substantial progress of the Metaverse. Personally, I think that NFT or metaverse must produce at least a few leading companies with a market value of more than one trillion yuan. In addition, Pan Helin said that the development of the metaverse industry should be encouraged, the boundaries should be constrained, and the development of the metaverse should be treated with prudence, tolerance and supervision. (NetEase Finance) [2022/4/20 14:35:26]

Ethereum is a decentralized platform capable of executing smart contracts and decentralized applications using blockchain technology. They are applications that work exactly as programmed without any possibility of censorship, fraud, or third-party interference because the contracts are immutable.

Generally, these NTFs use the same token structure. The ERC-721 standard is a token created for the Ethereum network under the standard of its smart contracts. This model aims to create fungible tokens, but with unique and irreplaceable specificity.

CoinW will launch NFTB at 22:00 on June 25: According to official news, CoinW will launch NFTB at 22:00 Singapore time and open the NFTB/USDT trading pair. For more details, please refer to the announcement on the official website of CoinW.

The vision of the NFTB project is to build a mapping channel between NFT and the real world, and become the infrastructure for blockchain technology to map the real world.

CoinW is committed to selecting high-quality encrypted assets for investors and creating a new model of technology and finance for users. [2021/6/25 0:06:49]

NFTs are unique entities that cannot be replaced by other things. For example, a unique trading card is non-fungible. If you swap it out for another card, you'll have something completely different. NFTs can be anything digital, but a lot of the excitement right now revolves around using the technology to sell digital art.

The total locked position of NFT STK Super Three Kingdoms exceeded 100 million US dollars: According to official news, NFT STK Super Three Kingdoms went online for 8 days, and the total locked position exceeded 100 million US dollars.

NFT STK Super Three Kingdoms is a Three Kingdoms-themed NFT card GameFi application incubated by NFT-HERO.com. It was launched and deployed on the HECO Huobi ecological chain on April 1. NFT STK Super Three Kingdoms has HBTC, ETH, WHT, MDX, HUSD, USDT lossless mining pools. At the same time, the total transaction volume of the NFT trading market exceeded 1.5 million US dollars, and its transaction procedures will be managed by NFT DAO of NFT-HERO.com in the future. [2021/4/9 20:01:25]

Crypto art is the term used to distinguish all art sold on the blockchain. NFTs have created a huge buzz in the art world. An artist named Beeple recently sold an NFT for $69 million, and in sports, NBA-licensed Top Shot cards have generated $230 million in total sales.

You can make as many copies of a digital file as you want, including the art contained in the NFT. But NFTs are designed to give you something that cannot be copied: ownership of the work. Importantly, artists can still retain copyright and reproduction rights, just like physical artwork. From the perspective of physical art collection. Anyone can buy a Monet print. But only one person can own the original. In addition to what is stipulated in the contract, you can of course also enjoy the pleasure of having the work in your crypto portfolio for anyone to see. It's like having an art gallery in your pocket. For collectors, it can be said to be very valuable.

NFT index fund NFTX announced that it has voted to create a new index fund that will include CryptoKitties: NFT Index Fund NFTX announced that it has voted to create a new index fund that will include Axie Infinity, Joy World, Larva Labs, CryptoKitties, and Avastars. [2021/2/12 19:38:03]

For digital artists, the appeal of using blockchain is the simplicity of ownership. Encrypted art is more secure from replicators than anything else published on the Internet. A person can easily record a video or screenshot an image and proudly display the reproduction on their desktop. But with an NFT, the owner buys a verified token, providing digital proof that the artwork is theirs. Kind of like an artist's signature. The idea is to provide a level of authenticity that comes naturally with physical art.

Any NFT is just a digital memento, nothing more, nothing less. And in this case, NFT is a digital souvenir on a valuable platform. It works like any other speculative asset, where you buy it in the hope that one day its value will rise so you can sell it for a profit. Technically, any number can be sold as an NFT. International DJ deadmau5 has sold digitally animated stickers. There have been some attempts to link NFTs to real-world objects, often as a method of verification. Nike has applied for a patent for a method of using an NFT system to verify the authenticity of sneakers, which it calls CryptoKicks.

One of the most interesting aspects of NFTs is how they can be used in games. There are already games that let you hold NFTs as items. One game even sells virtual land as NFTs. Having the opportunity to buy a unique in-game gun or helmet or whatever as an NFT would be a flexibility that most people would appreciate.

Another use that is trending in popularity is in the music industry. Kings of Leon released a new album, which contains the NFT version, which has certain exclusive benefits, such as privileged positions for live performances, special albums, and different arts. The tokens are released for two weeks and then become collectibles that can be traded by their owners. Anyone can hear the band's hits, but only the buyer will have the original files.

Now we introduce you to a solution to create NFT using standard ERC-721. For this, we need to write code in Solidity. It is an object-oriented programming language used to write smart contracts. It is used to implement smart contracts on various blockchain platforms, most notably Ethereum. We create a file containing the interface of this token mode. This is the interface of our token. The main difference about fungible tokens is that each token has a unique ID.

In the next file, we will create the product ownership structure. Modifiers are used to change the behavior of a function. This contract is declaring the unique owner of the modifier, which checks if the account interacting with the contract is the owner of the particular product. If the condition is not met, the required function throws an exception condition.

The NFT interface has methods and events that our tokens must implement, ProductFactory has data structures and functions responsible for creating new products, and the ProductOwnership contract implements the methods of the NFT interface.

NFTs are a craze that has captured Silicon Valley's elite. Its biggest difference is that it can become a unique entity that cannot be replaced by other things. They can be used to represent digital files such as art, audio, video, props in video games, and other forms of creative work. Using the ERC-721 standard, we propose an applied method to create your own NFT. Now you just have to imagine new possibilities of use.

Matheus Leal Author

Jeremy Translate

Jeremy Editor

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