NFT's- Non-Fungible Tokens of My Selected Artworks
Newly minted NFT. Click pic to see the full view at the link.
Mintable
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OpenSea
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What are NFT's?
NFT is the acronym for Non-Fungible Tokens. Non-Fungible stands for something that is unique and can't be duplicated, such as an original work of art. It can also describe other items besides art but art is the focus of this website and this artist's reason for creating them. It's a way to sign the artwork with metadata so that when the artwork is out there in the world at large, there will only be one token for it that holds the key to it as a unique item.
The symbol for the Ethereum coin unit is $ETH or also ETH. But the artwork token exchange can also take place using other currencies such as the US dollar, or several other varieties of cryptocurrency including Bitcoin, and lesser known ones as well. Unique data for the item is stored on what is known as the Ethereum blockchain. It's value lies in the fact that it is decentralized. That is, it is not owned or traded by any banks. It is held independent of mainstream institutions for trading in currencies or valuables.
The cryptocurrency usually used most widely held for exchanging these tokens is Ethereum. "Ether, ...is the Ethereum blockchain’s native digital token" to quote a news article from CNBC. It's the world's second largest cryptocurrency, after bitcoin, which is currently first.
But no, really, the blockchain is being taken more and more seriously by large scale institutions. Cryptocurrencies are being exchanged more and more widely on the internet. Paypal, for example has enabled its use by Paypal account holders. Gotta respect that. It's a growing resource for retaining the uniqueness of something that is otherwise copyable indefinitely. If you own the NFT for the item being copied, you own the umique, non-reproduceable, aspect of it. Similar to if you own a physical copy of an art original that gets reproduced repeatedly. The reproductions' value is not as high as the original's.
So, my advice re: NFT's, cryptocurrency, Ethereum, and the whole ball of wax is, stay <<au courant>> and you have a window on the latest in the world of technology's innovative concepts and developments. Some people say that it will take off over time like social media, which wasn't taken very seriously at first, but eventually exploded on the scene as we now know it.
