NFT: Dummy Explanation For You

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When you read the term Non-Fungible Token, you may be wondering, what does it mean? Simply put, an NFT is a token or digital asset that can then be connected or linked to a blockchain system. There is Nft developer for hire in malaysia

 

Oh yes, this is important to remember. NFT can only be connected to the blockchain system, you know, not to other systems except web 3.0, which is built on the principle of decentralized blockchain.

What is NFT?

Nft developer for hire in malaysia

Are you still confused? It’s that easy, okay? You know digital currencies like Bitcoin, yes, NFT is similar to this digital currency. However, this NFT cannot be used for exchange, it can only be used for buying and selling processes, or as proof of someone’s ownership of a work.

 

This is an example of buying and selling. For example, you want to buy one of the works from Bored Ape. Well, if you manage to buy it, you will get a certificate as proof that you are the rightful owner of the painting. This certificate becomes your digital asset that can be resold.

 

Well, what’s unique is that this NFT has been around for 10 years, you know! To be precise, back in 2012, but the concept used to be called Colored Coins.

 

The term arose from the writings of Meni Rosenfeld and was published on the Bitcoin blockchain platform. Unfortunately, this concept has never been realized, but it is enough to serve as a reference for developing the NFT.

 

Two years later, digital artist Kevin McCoy printed NFT Art called Quantum. Crazy, this work sold more than 1.4 million US dollars or Rp. 20 trillion. This is a very fantastic number for an artist’s work.

 

Because it can become a field of money, the new NFT has spread its wings. NFT began to be traded on the Bitcoin blockchain platform called Counterparty. Here, artists can create digital assets in the form of images. One of his famous works is called the Pepe the Frog meme, a green frog with wide red lips.

 

The World’s Most Expensive NFT Series

10 years have passed, NFT is getting more and more popular, you know, Zenius pal. NFT is now considered the ‘guardian angel’ of digital artists. You see, this is what keeps the artist’s work alive. Not only does it exist, but the field is very promising.

 

Yes, the proof is, there are already several artists who have managed to sell their work very expensively. Among them is Mike Winkelmann or Beeple whose work is still number 1 on the NFT Art list with the most expensive price, which is 69.3 million US dollars.

 

Talking about this fantastic price, let’s go back a bit, let’s go back to the beginning and discuss interesting facts about the most expensive NFT in the world which is guaranteed to make you massage your head at the price!

 

Get ready, yes, these are some of the most expensive NFTs in the world that make you shake your head.

 

Willie Lee

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