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Understanding Non-Fungible Tokens
A non-fungible token, or NFT is a cryptographic token that can represent ownership of an asset, digital or physical. In the same way that fungible tokens (such as Bitcoin and other cryptocurrencies) have the potential to change the way that transactions and finance will work, NFTs can change the way we think about art, music, and intellectual property.
Here are some resources to study in order to understand NFTs and Social Tokens:
The NFT Bible by OpenSea
Cryptomedia, NFTs, and the Next Internet by Bobby Hundreds
NFTs: The Lay of the Land by Piers Kicks
A Stream of Social Token Consciousness by Richard Kim
NFTs: The new promised land? by Besancia
Ultimately, the idea of NFTs is about empowering creators to build their own economies and flip the social media “you are the product” economy upside down.
More to come in the near future.