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Excitement About What is a NFT? (Explained) - YouTube


<h1 style="clear:both" id="content-section-0">Non-fungible tokens (NFTs) - New Scientist Can Be Fun For Everyone<br></h1>
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<p class="p__0">5 million investment, with some cats costing over $100,000 each. Following Look At This Piece , Crypto, Kitties were included to the ERC-721 requirement, which was then settled in January, 2018, and affirmed making use of the term "NFT" to describe "non-fungible tokens." In 2018, Decentraland, a blockchain-based virtual world which first sold its tokens in August 2017, raised $26 million in a preliminary coin offering, and had a $20 million internal economy since September 2018.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://rymaloney.com/wp-content/uploads/2021/02/what-does-nft-mean.jpg" alt="Still unsure what an NFT actually is? Here's your official guide - Venture"><span style="display:none" itemprop="caption">What are NFTs and why are some worth millions? - BBC News</span>
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<p class="p__1">In 2019, Nike patented a system called Crypto, Kicks that would utilize NFTs to verify the authenticity of physical sneakers and provide a virtual variation of the shoe to the customer. In early 2020, the designer of Crypto, Kitties, Dapper Labs, launched the beta variation of NBA Top, Shot, a task to sell tokenized collectibles of NBA highlights.</p>
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<img width="451" src="https://hidalgocountynewsonline.com/wp-content/uploads/2022/01/6903-crypto-flipsider-news-bitcoin-hashrate-sets-ath-yfi-jumps-11-in-24-hours-more-billionaires-are-turning-to-crypto-samsung-to-add-nft-support-bored-ape-reach-new-highs-okex-processed-21.jpg">
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<p class="p__2">Later that year, the job was launched to the general public and reported over $230 million in gross sales since February 28, 2021. The NFT market experienced fast development during 2020, with its value tripling to $250 million. In the very first 3 months of 2021, more than $200 million were invested on NFTs.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://art.art/wp-content/uploads/2020/11/maxresdefault.jpg" alt="What NFT means to the content model could be profound - Industry Trends - IBC"><span style="display:none" itemprop="caption">Everything you want to know about NFT and its risks</span>
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<h1 style="clear:both" id="content-section-1">Getting The NFTs Are Taking Off in the Music IndustryWhat's an NFT? To Work<br></h1>
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<p class="p__3">Blockchains such as Ethereum, Flow, and Tezos established specific standards to ensure that the digital item represented are authentically unique. NFTs are now being used to commodify digital possessions in art, music, sports, and other popular home entertainment, with the majority of NFTs part of the Ethereum blockchain, while other blockchains can implement their own variations of NFTs.</p>
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<p class="p__4">In February 2021, the artist Grimes offered around $6 million worth of tokens representing digital art on Nifty Entrance. Later that month, an NFT representing the meme animation Nyan Feline was offered in an Internet market for just under $600,000. On February 28, 2021, electronic dance musician 3LAU offered a collection of 33 NFTs for an overall of $11.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1304135182/medium_image_1304135182.jpg" alt="What Is NFT And How Does It Works – A Detailed Guide"><span style="display:none" itemprop="caption">NFT art: what is it, how it works and what it means for the creative industry - 99designs</span>
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<p class="p__5">On March 5, 2021, the band Kings of Leon became the very first to sell a newly released album, When You See Yourself, in the form of an NFT, generating a reported $2 million in sales. On March 11, 2021, American digital artist Beeple's work ended up being the first NFT art work to be listed at popular auction house Christie's and offered for $69.</p>
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