We bust the biggest misconceptions about what 'minting' actually means.
to avoid hearing about NFTs in recent months. Hype for the tokens—pitched as proof of ownership of a digital item—has reached a fever pitch, whilehave poured into the market for them. To some, these non-fungible tokens are the hottest new collectible hobby, to others a powerful investment tool, and still more, they’re the future of the internet.
The reality is, as always, more complex. In their current state, NFTs aren’t actually capable of doing much of what they’re often claimed to do. The extremely technical nature of how NFTs, blockchains, and cryptocurrencies work means that it’s easy to simplify the explanation of the tech to the point of being misleading.is complicated, but we’re going to try to break down the issues as succinctly as we can.
This framing is misleading for a number of reasons. For starters, NFTs can only convey ownership of the token itself. As software engineerexplained to WIRED, “With NFTs, the thing you've bought does not tend to give you ownership of the underlying item in any way you would normally transfer physical or digital art.”
Instead, NFTs typically contain links to an asset hosted elsewhere. The NFT doesn’t convey ownership of the copyright, storage, or usage rights to the asset itself. As White explained, when someone buys an NFT, “They've paid to have their wallet address etched into a database alongside a pointer to something. I wouldn't say they really ‘own’ anything at all.”
Additionally, as mentioned above, the Ethereum blockchain doesn’t have a mechanism for distinguishing between
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Interest In NFTs And The Metaverse Is Falling FastIf Google is any indicator, public interest appears to be falling fast in the concepts of NFTs and the metaverse.
Leer más »
Stripe announces fiat payment support for cryptocurrencies and NFTsStripe also launched an open drop of NFT collectibles dubbed “Cube Thingies” via Nifty Gateway for nonprofit healthcare tech organization Watsi.
Leer más »
Deciphering the Metaverse: The financialization of NFTsThroughout 2021, NFTs witnessed a period of exponential growth, seeping into the mainstream at an unprecedented rate. Amidst this flurry of activity, the
Leer más »
LootLARP is ‘embedding’ NFTs into physical objects for a real-life RPGsA new project is trying to 'physicalize' the universe of Loot, the Ethereum-based, user-generated game concept.
Leer más »
Lehmann Maupin Goes All in on Tech, Offering NFTs and an Augmented Reality Experience From Ashley Bickerton | Artnet NewsAs part of a new project, Lehmann Maupin will release three NFTs by Ashley Bickerton to be sold in editions of six and priced at $10,000 each:
Leer más »
What Web 3 Can Learn From Steve Jobs'Every once in a while, a revolutionary product comes along that changes everything,' Steve Jobs said. Do we need to redesign smart contracts before they can change everything? Opinion by CoinDesk columnist holyn.
Leer más »