The NFT fever of the celebrity world has caught
everyone's eye in this new market. The digitization process is accelerating.
One confirmation of this is Metaverse itself, where you can live a "new
life" in this universe and earn your NFT there.
The concept of the blockchain (or data chain)
originated in 2008 and basically represents a way to verify a transaction or
record. Designed to make digital transactions more secure, blockchain is an
innovation behind digital currency (Bitcoin, Litecoin, or Ethereum.)
does blockchain work?
We will help you decode all this data to
understand this new universe! Is it us ?
Blockchain information is stored in data blocks,
each block having a type of digital signature called a "hash". This
signature works like our biometric printing, ensuring the security of your
information in encryption. As a result, data blocks cannot be easily violated.
When a new block is created, in addition to having a "hash" it also
carries the signature of the previous block. Thus, a sequence that secures the
transfer and makes hackers' lives difficult. The data of all transactions is
recorded under the name "Ledger" of the leader. This ledger contains
all the information about the transaction, even how much you have transacted in
the car, just a code with letters and numbers. Great...
Now that we know the blockchain concept, let's
enter the fertile ground of NFT. NFT is an acronym for "Non-fungible
Token" which will be something like "Non-fungible Token" in free
A token, in the cryptocurrency world, is a
digital representation of an asset (such as money, property, or artwork)
registered in a blockchain. For example: If a person owns a property token, it
means that he owns that property - or part of it.
According to the Country Civil Code, a fungicide
is a "product that can be replaced by others of the same type, quality and
quantity". Example: A $ 200 bill fungus, because it can be exchanged for
two $ 100 bills. Painter Pablo Picasso's "Guernica" on the other hand
is not a fungus because it is unique and cannot be exchanged with others.
That's the concept behind NFTs: they're like a
type of digital signature that turns any kind of digital media (a GIF or
JPEG, photos, videos, messages, website domains, audio files, etc.) -fungible.
The operation of NFTs technology is like a
blockchain. Given the decentralized nature of blockchain, there is a huge
security gap between storing stored data and virtually being mood-proof. This
encourages the emergence of a market around the NFT, as it already exists for
NFT is gaining ground in digital artwork. If the
author of the work feels the need to define his authorship, he may associate it
with an NFT as a way to preserve its originality in anticipation of
It is possible that this concept is not yet
clear, as it is somewhat complicated. Thus, to better understand its
effectiveness, it can be explained by a very simple example.
An artist, like a painter, creates an NFT image,
meaning a digital image for the value he considers. And people will buy if they
The following questions may arise: Why pay for a
photo that can be downloaded for free from the Internet? The main part of this
issue. If that instance is downloaded, it is true that the person has the same
image, but it is not real. You will have a copy.
Like a replica of Pablo Picasso on the wall of
your house. Do you have an original painting? No. You have a copy of that
This is why NFTs are designed to offer something
that cannot be copied. While this is a sale, it is also a way to try to make
money. This is possible because the artist can determine the royalty to get a
percentage of sales each time their art is acquired by a new owner.
in transactions in 2021
The Market Transactions Survey shows that in the
first quarter of 2021 alone, NFTs were responsible for the transfer of US$50
508.9 million to the crypto market. This number increased to $4754.3 million in
the second half of 2021, an increase of 48.2% in the first half. These digital
assets transferred $10. 10.7 billion between August and September.
The most expensive NFT in history is actually a
series of NFTs. Famous digital artist Pak, whose work has transferred more than
$ 350 million, has created The Merge as a multi-owner token. Only 28 + 983
people (this number has increased since the newsroom closed) bought more than
312,000 shares for a total value of more than 90 million US dollars. Together
they created Pak, the so-called "mass", surpassing Jeff Coon's 1986
rabbit painting, the most valuable living artist in history, which sold for $
Metaverse and the Future of the Internet
The term Metaverse was coined by the American
author Neil Stephenson, who used the term to describe a virtual world in his
1992 book, Blizzard. It became popular when Facebook changed its name to create
this hint of Metaverse on the meta platform, we can also buy Marvel Studio
films that want to explore this theme as well.
Metaverse is slowly gaining more and more space.
We see Fortnite, one of the most popular games with over 350 million active
users worldwide, where they engage in battle with 100 players through avatars
and real-time communication. This has sparked interest from a number of
companies selling NFT clothing and footwear for these avatars, such as Nike recently
acquired RTFKT, a company that makes virtual sneakers, to acquire it at
Metaverse is still under the structure. Immersion
in this world depends on the ability of companies to create compelling digital
simulations. One of the important points is the expansion of the devices, which
must be accessible and comfortable. Facebook itself, for example, acquired the
Oculus brand, now needs to rename the device.
Canadian consultancy Emergen Research predicts
that the meta-related market will grow at an annual rate of 43.3% between 2021
and 2028, reaching US$ 828.95 billion at the end of the period.
And don’t think that it’s just the “big tech”
that is creating this market. Like Nike, another clothing brand that was very
successful was Dolce & Gabbana. In September 2021, it auctioned off a
high-fashion collection Collezione Genesi, for the equivalent of US$ 5.7
million. It is hoped that NFTs will become a preferred way to trade in
How to buy
The purchasing process is very simple. The first
step is to create an account on a platform, have funds in cryptocurrency, or a
wallet called Crypto World, and acquire NFT. Each marketplace has different
features of asset acquisition. So study the platform well before landing on
this earth. Here are some platforms for you to know:
OpenSea is an Ethereum
Binance is the world's largest
exchange by market cap and has a marketplace called Binance NFT.
Mintable is a network fee-free NFT
KnownOrigin is a popular
marketplace for NFTs and digital arts.
Do you have blockchain-based or even NFTs in the
market and don't know how to get started? Our blockchain-based programs can be
the key to developing your ideas! The program provides financial support
through access to a community of entrepreneurs, investors, and consultants for
the expansion of financial networking (no loan repayment required), technical
support grants, training and support, and their networking.