You are viewing a single comment's thread from:

RE: NFTing The World

in LeoFinance3 months ago

This clarified NFTs a little for me, but I'm still a little unsure exactly how they work. I understood the part at the end (and it's what I've been seeing online a lot) about artists making an NFT of their work, but I do not understand how a Tweet can be an NFT, lol. Or sneakers, for that matter. Do you know any really basic, non-techie explainers about NFTs? I am seeing this crop up on Hive more and more but I don't really have a grasp on it. Thanks for any help!
!BEER

Sort:  

The tweet simply is monetized. Dorsey created a NFT for the tweet and is selling it. Whomever buys it, will be able to hold it in a wallet, just like a Splinterlands card. I am not sure where Dorsey is doing it but I am going to presume it is an Ethereum NFT. So the one who buys it will be able to sell it at some point, and simply move it to another ETH wallet.

How does it have value? It is like the secret formula of Coke is worth a fortune yet it really only a recipe written down on a piece of paper (I presume).

https://opensea.io/blog/guides/non-fungible-tokens/

Posted Using LeoFinance Beta

Thanks for the link!

They are basically a token on a blockchain for ownership over something for example in a game if you unlock a weapon and it was nft you actually own that data and own the weapon which in theory could be taken out of the game and sold its basically an ownership token on a blockchain

Ahhh, okay cool I can definitely see that being useful in terms of gaming for sure!

I don't understand how a tweet qualifies either. I think it started out with trading cards and card games like splinterlands. You own a card or a token. In this case, it usable as an enhancement to the game. From what I've read, you can buy a tweet but, you don't own it but rather a "token" that represents that tweet and holds a perceived value.
If someone wants to buy my utterances on twitter, so be it.

Posted Using LeoFinance Beta