Non-Fungible Tokens.
Your name lives on for eternity on a Distributed Public Ledger as the first to buy something , in this case listed first in the provenance record for a US $69M purchase of JPEG Art!
Yipee! I better get at it on GIMP!
In this #001 Issue of KULTUR TKOs, we take a first look at NFTs and their application the Art World, graphic art to be specific.
NFTs have been flying under the radar to a certain degree since CryptoKitties popularity crashed ETH 1.0 a few years back, exposing the poor TPS of Ethereum for what it was back then, flattening the price curve for most cryptos in the ERC20 space for a few years.
Now, with a US $69M+ price tag attached, a world record for Graphic Art, it's worth checking in to understand what all the fuss is about NFTs these days.
The BIG Question: What really is an NFT anyway and Why should you care?
A few third party definitions and posts help., here is the "first fold" entry(coinbase), courtesy of StartPage Search engine for "Non-Fungible Tokens"+"NFT" (don't forget the quotes and plus sign, it makes a difference in all search engines, concatenation that is.. ;) )
Ok we have some 101 NFT info under our belts courtesy of Coinbase , now let's talk about NFTS in the broader cultural sense like:
Early/First whole recording from music artists with insider interviews
Industrial Signed First Draft Digital Artwork a la DaVinci et al
Early CAD Designs of Break-thru Inventions.
Voiced over Poetry by original Author w/ accompanying vision and interview videos
Is there a market for the above and many other things? Me thinks yes where provenance is blockchain protected to eliminate chance of fakes and ensure the number of copies on the market never change via an eternal Smart Contract...
StatusQuo Auctioning vs NFT Kultur Objects 2.0 - Virtual NFT Auctions of Digital Assets to supplant Physical Auction houses?
It's already started, NFT, a current reality, what is certain NFT will become more refined really fast, just like DEFI.
As to what's next, imo think Blockchain Protected NFT Graphic/Video Display/Play Gadgets coming soon...
The Linux Embedded guys will love that, as will those slaving in the IoT space (IOTA NFT RaspberryPi/WASP NFT derivatives anyone?)
The GADGET and KULTUR symbiosis is for me, quite clear in the NFT space.
Well, I will keep on the lookout and report more of these such events here in this series.
What's for sure is the value of all digital art protected with provenance via NFTs on a trusted public blockchain just went up, big time.
That's all for now, three series is all I can handle in parallel with the day job CRYPTO, KULTUR and GADGETS :)
TK over and out
*****
