NFT


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NFT

Network File Transfer. An INTERLINK command on CERNVM.
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non-fungible token

A blockchain-based certification of ownership of a unique digital or non-digital item. Dating back to the 2010s, a non-fungible token (NFT) can represent a digital version of any artwork or collectible, many of which were created in the digital world and have never been anything but a digital file. An NFT can also certify ownership of any real-world object.

Where Is the NFT Object Stored?
NFTs reside on the blockchain, typically Ethereum, but the actual digital file of the art or collectible is stored on a website or in a compliant crypto wallet. Because any website is not guaranteed to remain online, a popular option is the IPFS decentralized storage system, which is somewhat similar to a blockchain (see IPFS).

A New Technology or Delusion?
The NFT uses blockchain technology to guarantee that this user is the only one with rights to the item. Many people think NFTs that certify art that resides only in the digital world are insane because every copy of a digital image is identical to the original, and copies are easily made. See screen capture, NFT rug pull and crypto art.

Nevertheless, 2021 Was a Bonanza Year
In March 2021, an NFT-based collage of 13 years' worth of daily digital art was auctioned at Christies. "Everydays" by American artist Mike Winklemann, who goes by the moniker "Beeple," sold for $69 million.

Also in March, Twitter founder Jack Dorsey sold his very first tweet as an NFT for nearly $3 million. The proceeds were donated to charity.

A YouTube video entitled "Charlie bit my finger" was posted on YouTube in 2007. Viewed hundreds of millions of times, in May 2021, the NFT of the video was sold for $760,000 (see below).

For Real or a Fad?
Proponents claim NFTs are a new form of art. Opponents say this is insanity as sale prices reach the stratosphere. However, non-fungible tokens may indeed be the way ownership rights to all kinds of intellectual property are secured in the future. The blockchain architecture guarantees proof of ownership. Stay tuned! See CryptoPunks, Cirus platform, fungible token, blockchain and Ethereum token.


Charlie Bit Me!
Although Dubai-based 3F Music purchased the NFT of the video, the buyer decided not to remove it from YouTube because of its cultural value. Having been viewed more than 900 million times, the video gained huge notoriety. The proceeds are expected to pay for the education of Charlie and his brother Harry with the rest going to charity.
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References in periodicals archive ?
Each NFT Unit will consist of one NFT Share and one non-transferable common share purchase warrant (a 'Warrant').
By introducing the Colletrix token (CIPX, based on the ERC-20 standard), Colletrix will provide a distributed infrastructure platform to pair with the NFT trading platform which will allow consumers to purchase different types of physical collectible merchandise through its expandable ecosystem.
The NFT group bought NR Evans back in 2016 in a deal worth PS20m.
NFT is working to marry a plane with a car, meaning no airports or heliports would be needed.
Kaplinsky won't reveal the full configuration of the vehicle NFT is building just yet, but he says the strategy is to create a flying vehicle that would be as accessible as possible regarding its price, rather than being not a "toy" for the rich.
Among the event's sponsors are global brands such as Wolfkran, Liebherr, Sennebogen and Tadano, and regional names such as NFT and Al Faris.
(2015), also conducted at the same site but using NFT system, the authors used water with salinity levels of 0.43, 3.09, 6.87 and 8.53 dS [m.sup.-1] only to replace the volume consumed by the coriander cv.
The Masdar project is only one of Potain's Abu Dhabi construction schemes - with NFT, the company is also helping to build the $1.2bn (AED4.4bn) Reem Mall in the UAE capital's Najmat district.
Another pilot study of 10 participants evaluated the effects of the NFT on heart rate variability (HRV), or differences in the amount of time between heartbeats.
In light of the increase in demand of second-hand equipment, NFT, he said, has dedicated two facilities for reconditioning used tower cranes.
Narrative family therapy (NFT) is one approach from which professional counselors may draw in order to effectively serve couple and family clients.
The purpose of this study was to provide an in-depth account of young people's thought processes when using nutrition information on the current and modified versions of the NFt to compare and choose foods.