Learn More About NFTs

NFT Plate - Find Out More About NFTs

Did you see my license plate and wonder what it meant?

What are Non-Fungible Tokens? (NFTs)

NFTs are currently taking the digital art and collectibles world by storm. Digital artists are seeing their lives change thanks to huge sales to a new crypto-audience. And celebrities are joining in as they spot a new opportunity to connect with fans. But digital art is only one way to use NFTs. Really they can be used to represent ownership of any unique asset, like a deed for an item in the digital or physical realm.

If Andy Warhol had been born in the late 90s, he probably would have minted Campbell’s Soup as an NFT. It’s only a matter of time before Kanye puts a run of Yeezys on Ethereum. And one day owning your car might be proved with an NFT.

Read More at the Ethereum Foundation

“Bored Ape” Digital Art NFT - View Live NFT Here

Currently selling for 35 ETH (~$143,000 USD)

How do NFTs Work?

An NFT is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. NFTs (and the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets.

NFTs function like cryptographic tokens, but, unlike cryptocurrencies like Bitcoin, NFTs are not mutually interchangeable, hence not fungible. While all bitcoins are equal, each NFT may represent a different underlying asset and thus have a different value. NFTs are created when blockchains string records of cryptographic hash, a set of characters identifying a set of data, onto previous records therefore creating a chain of identifiable data blocks. This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership. However, data links that point to details like where the art is stored can die.

NFTs in the Media

• The Verge - What is an NFT
• Forbes - What You Need To Know About Non-Fungible Tokens (NFTs)
• BBC - What are NFTs and why are some worth millions?
• The Economist - What is an NFT?

Is having an NFT license plate and whole website about it nerdy? Hell YES it is! Did it teach you something new? I hope so! So why did I do it? I love helping people learn about blockchain!

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I hope my driving was ok, if not, please accept my apologies.

Donations Welcome - ETH Address: 0x882b2C88FF274ddb44150550EA2ef29716Ed1C8a