Three years ago, two software developers created a quirky art project called CryptoPunks that posed a serious and provocative question: Could a few lines of code translate to a feeling of meaningful ownership? It was a crazy idea that would require, in their words, ‘a conceptual leap.’ Three years later, that project is rightly regardedContinue reading “cryptopunks @ Christies”
ERC-721 is a more advanced token that is “non-fungible”. Think of ERC-20 as the token type for things that are money (any $5 bill is worth the same as any other $5 bill, usually) and ERC-721 as the token type for collectibles (it’s the Ethereum equivalent of baseball cards). View at Medium.com
Rich people who shopped too much used to be called collectors. Now they — and those belonging merely to the aspirational class — are all investors.
The NFT grift works like this: Tell artists there’s a gusher of free money! They need to buy into crypto to get the gusher of free money. They become crypto advocates, and make excuses for proof-of-work and so on. A few artists really are making life-changing money from this! You probably won’t be one ofContinue reading “NFTs: crypto grifters try to scam artists, again”
https://amycastor.com/2021/03/18/wtf-is-an-nft-heres-a-rundown-of-the-basics/ NFT stands for non-fungible token. Fungible means interchangeable. It’s the idea that one asset can be swapped out for another and nothing is lost. Bitcoin and ether, the two most popular cryptocurrencies, are examples of fungible tokens. One bitcoin works like every other bitcoin; likewise with ether. A non-fungible token is different because onlyContinue reading “WTF is an NFT?”