![]() NFTs are unique and can’t be divided or duplicated, but can be resold in the digital marketplace. Since then, US artist Beeple sold an NFT of his artwork for $AUD90 million and Charlie Bit My Finger, one of YouTube’s most-watched videos with 885 million views, sold for $US914,500. On 21 March 2006, Twitter CEO Jack Dorsey posted his first tweet on the platform.įifteen years later, he used an NFT to sell that tweet as a digital collectors’ item for $AUD3.8 million. However, a non-fungible asset, such as a one-of-a-kind trading card, can’t be replaced. For example, a bitcoin is fungible and can be traded for another bitcoin. In finance terms, a fungible item is a commodity such as money that may be replaced with another equal part. But what’s the difference between crypto and NFTs? They are built using the same blockchain technology as cryptocurrency and can be used to verify the ownership of digital assets including art, music, videos, games and even tweets. ![]() In sectors from art to gaming, trading volume for NFTs across all sectors has plunged about 90 since. NFTs are iron-clad digital certificates that prove the ownership and authenticity of a digital asset. The once-booming non-fungible token (NFT) market is down by nearly every trackable metric. MBA Careers and Professional Development Team You’ll need a digital asset that you own the intellectual property right to. ![]() Master of Tourism, Hotel and Event ManagementĮxecutive Education Show Executive Education sub-navigation Following up on How Do You Purchase Non-Fungible Tokens (NFTs), this week we’ll cover how to create your own NFTs. Master of Entrepreneurship and Innovation Explains the nature of Non-Fungible Tokens (NFTs) and their underlying blockchain technology Explores the business opportunities of NFTs in prominent.
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