NFT stands for Non-Fungible Token. A non-fungible token means that it is unique. Think of it as a 1 of 1 trading card. There's a unique and non-interchangeable unit of data stored on a digital ledger using blockchain technology to establish proof of ownership.
Choose you digital asset; a painting, picture, etc. Secondly, choose which blockchain you intend to use. Set up your digital wallet and select an NFT marketplace and connect your digital wallet in order to pay the minting fees. Afterward, upload your file, set your sale price, and post it!
Unlike an image, every NFT is unique. An NFT is proof that you bought an asset. It is stored on a digital ledger called a blockchain.
NFT art is valuable because it verifies the authenticity of a non-fungible asset. This means the asset is unique and one of a kind. For example, the Mona Lisa painting is non-fungible. While you can make copies of paintings or have a screenshot of the Mona Lisa, the original painting remains irreplaceable and unique.
Blockchains are complicated. Blockchain technology is a digital database that is shared and stored between nodes of a computer network. Blockchains are essential to cryptocurrency systems for maintaining a secure and decentralized record of transactions.
A metaverse is a network of 3D virtual worlds. Commonly believed to be in Virtual Reality, but also available through browsers or mixed reality, a metaverse is interactive an immersive.
Ideally, there is only one metaverse that provides seamless and simple movements from world to world. Unfortunately, companies don’t intend to share and allow access to other worlds that aren’t their own.
The obvious uses would be to socialize and meet new people but it doesn’t stop there. From virtual work spaces to attending live sporting events from across the country, the possibilities are endless.
Since a metaverse is a digital world, the traits that are needed could be endless. Some vital traits are corporeality, interactivity, and interoperability.
Web 3.0 is known as the third evolution of the Internet. This new iteration of the World Wide Web incorporates concepts such as decentralization and token-based economics.
Web 1.0 was the Internet in the 1990s and early 2000s. It is categorized as information on a page (Read only page). Web 2.0 is the current stage of the Internet; web pages with high interactivity, social connectivity, and user generated content.
Web 3.0 relies on blockchain technology just like cryptocurrency and NFTs. Blockchain technology allows for full transparency.
All information will exist and be accessible. This is extremely important because it wont be possible for governments to censor information.
Currently, tech companies collect lots of information and walls it off. With Web 3.0, any information that you choose to share is accessible. This will provide an entrepreneurial boom and unlock countless new ideas to help the world.
