😅 NFTs? What?Are JPEGS worth anything?

“Angelik” By Tondji

Made in blender from a vintage photography. 1920*1920px / Collected via Objkt.com for 0.5 Tezos - Edition of 20 / Get yours HERE

Let’s start by defining what is a “Non-Fungible” Token:

• NFTs are Non-fungible assets. It means that they are not interchangeable with each other. They are unique units of data, or smart contracts stored on the Blockchain.

For example, the original Mona Lisa made by Da Vinci is unique and cannot be exchanged with a copy of the Mona Lisa, even if the copy looks exactly the same as the original.

In opposition to an NFT, a 1$ bill is a fungible asset, and therefore it is interchangeable with any other 1$ bill.

• The Blockchain technology is a decentralised (meaning it’s not owned by anyone) and 100% transparent ledger that makes each and every transaction traceable.

Thanks to this technology, people can finally own and sell unique digital assets.

The interesting part for artists is that they can automatically get royalties on secondary sales.

• NFTs in art are simply smart contracts linked to a digital file, be it a photo, a video, a gif, and stored on the Blockchain.

“LOVEME-BUYIT-BEDISTRACT” by FARAH

Collected for 0.053 ETH(Polygon) via Opensea / Get yours HERE

So are JPEGS worth anything? Yes, they are once minted on the Blockchain by the artist and sold to a collector. NFTs allow for online assets such as JPEGS to have verifiable scarcity and ownership that cannot be manipulated. And this my friendo, is revolutionary!

That’s all for today!
If you have more questions feel free to contact me directly.

Jessica
Artist & CEO at Art From Future