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NFTs: What are They and Why Should You Care?

What is an NFT?

Non-fungible tokens (NFTs) are unique, digital items with blockchain-managed ownership as opposed to “fungible” assets like government-backed currency, like the US dollar. A dollar is always a dollar no matter the serial number on a specific one-dollar bill or whether it's a dollar sitting in your bank account. Examples of NFTs can include collectibles, game items, digital art, event tickets, domain names, and even ownership records for physical assets (Devin Finzer, Jan 10, 2020, read Feb.1, 2022). A real-world example of the power of NFTs is the sale of a digital collage NFT by digital artist Beeple for $69 million in March of 2021. A more recent phenomenon is “The Bored Ape Yacht Club,” a series of NFT avatars minted on the Ethereum blockchain. Bored Ape NFTs have generated more than $750 million worth of trading volume and are increasingly used by famous athletes and musicians as their avatars on Twitter (Decrypt.co, Jan. 22, 2022, read Feb. 10, 2022).

What is an NFT?

Non-fungible tokens (NFTs) are unique, digital items with blockchain-managed ownership as opposed to “fungible” assets like government-backed currency, like the US dollar. A dollar is always a dollar no matter the serial number on a specific one-dollar bill or whether it's a dollar sitting in your bank account. Examples of NFTs can include collectibles, game items, digital art, event tickets, domain names, and even ownership records for physical assets (Devin Finzer, Jan 10, 2020, read Feb.1, 2022). A real-world example of the power of NFTs is the sale of a digital collage NFT by digital artist Beeple for $69 million in March of 2021. A more recent phenomenon is “The Bored Ape Yacht Club,” a series of NFT avatars minted on the Ethereum blockchain. Bored Ape NFTs have generated more than $750 million worth of trading volume and are increasingly used by famous athletes and musicians as their avatars on Twitter (Decrypt.co, Jan. 22, 2022, read Feb. 10, 2022).

AR games | Cryptoquest (Blockchain Hackathon)

We’ve talked a lot on our blog about making ideas happen with augmented reality and the internet of things, but we haven’t spent much time yet on the ideas we’ve actually turned into a reality here at The SilverLogic (TSL). This week, we’ll be featuring two of our in-house augmented reality favorites, OmniPark and Cryptoquest.

We’ve talked a lot on our blog about making ideas happen with augmented reality and the internet of things, but we haven’t spent much time yet on the ideas we’ve actually turned into a reality here at The SilverLogic (TSL). This week, we’ll be featuring two of our in-house augmented reality favorites, OmniPark and Cryptoquest.

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