{"id":564909,"date":"2021-03-07T13:49:51","date_gmt":"2021-03-07T13:49:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/"},"modified":"2021-03-07T13:49:51","modified_gmt":"2021-03-07T13:49:51","slug":"wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/","title":{"rendered":"WTF is an NFT \u2014 and why is it all people can talk about these days?"},"content":{"rendered":"

<\/a> SOUND SMART- What the hell is an NFT \u2014 and why is everybody and her sister suddenly <\/strong>talking about them? <\/strong>\u201cThe artist Grimes recently sold a bunch of NFTs for nearly USD 6 mn. An NFT of LeBron James making a historic dunk for the Lakers garnered more than USD 200k. The band Kings of Leon is releasing its new album in the form of an NFT.\u201d<\/p>\n

Okay, but you really want to know what an NFT is? <\/strong>It\u2019s a non-fungible token. A unique digital thing recorded on the blockchain as \u2026 uniquely yours \u2014 after you kick over real-world cash (or some BTC) for it.<\/p>\n

But \u2026 what is it? <\/strong>Think of it like a both certificate of provenance and ownership for digital art. You buy a clip of video or a GIF or a JPEG, and your ownership recorded on the block chain. You probably don\u2019t get the copyright, and good luck trying to make sure there are no other digital copies out there on the interwebs. But you\u2019re the owner of the \u201cone true video\u201d of Lebron\u2019s dunk. (If you\u2019re willing to believe there\u2019s one true anything in this digital world of ours.)<\/p>\n

Can I make an NFT of my own? <\/strong>Sure thing. All you need to do is make a file (a .TXT file of your great novel, say, or a JPG of your bellybutton lint), then upload it to an NFT marketplace where collectors can then start bidding. OpenSea<\/a> bills itself as one of the biggest marketplaces, and there\u2019s already a league table\u2026<\/a><\/p>\n

Okay, so \u2026 show me a real live NFT? <\/strong>Sure thing \u2014 here\u2019s that clip of Lebron dunking<\/a>. Some bozo paid USD 71,455 to \u201cown\u201d it, but you can watch it without charge.<\/p>\n

Why are we all suddenly reading about NFTs and \u2026 a week ago nobody had ever heard <\/strong>of them? <\/strong>You may thank the hype machine that is the interwebs.<\/p>\n

Want to go deeper? <\/strong>The Verge<\/a> and NPR<\/a> have got your back.<\/p>\n","protected":false},"excerpt":{"rendered":"

SOUND SMART- What the hell is an NFT \u2014 and why is everybody and her sister suddenly talking about them? \u201cThe artist Grimes recently sold a bunch of NFTs for nearly USD 6 mn. An NFT of LeBron James making a historic dunk for the Lakers garnered more than USD 200k. The band Kings of […]<\/p>\n","protected":false},"author":1,"featured_media":564910,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10096],"tags":[707,633,649,4192],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-trend-watch","tag-blockchain","tag-enterprisepm","tag-nfts","tag-speed-round-trend-watch","wpautop","entry"],"acf":{"mongo_id":"8115d23b-a850-4f0f-bc1a-4cb6ac56e437","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/417.png","photo_position":"above","related_issue":[564902],"teaser":"","voice_url":""},"yoast_head":"\nWTF is an NFT \u2014 and why is it all people can talk about these days? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/wtf-is-an-nft-and-why-is-it-all-people-can-talk-about-these-days\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WTF is an NFT \u2014 and why is it all people can talk about these days?\" \/>\n<meta property=\"og:description\" content=\"SOUND SMART- What the hell is an NFT \u2014 and why is everybody and her sister suddenly talking about them? \u201cThe artist Grimes recently sold a bunch of NFTs for nearly USD 6 mn. 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These estimates \u2014 as large as they are \u2014 may be even smaller than reality, with\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/471.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550538,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/wash-trading-is-the-latest-trend-to-take-hold-in-nfts-covid-19-was-a-boon-for-ceo-pay\/","url_meta":{"origin":564909,"position":1},"title":"\u201cWash trading\u201d is the latest trend to take hold in NFTs + Covid-19 was a boon for CEO pay","author":"enterpriseam admin","date":"5 April 2022","format":false,"excerpt":"People are buying their own NFTs to earn more rewards, not drive up NFT prices: The gray areas in crypto continue to rattle regulators, with \u201cwash trading\u201d becoming the latest trend on LooksRare, the hottest new NFT marketplace, Bloomberg reports. Wash trading is when traders simultaneously sell and buy the\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/438.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566086,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/are-nfts-making-possible-a-new-form-of-theft\/","url_meta":{"origin":564909,"position":2},"title":"Are NFTs making possible a new form of theft?","author":"enterpriseam admin","date":"26 May 2021","format":false,"excerpt":"How NFTs made plagiarism a business: The recent boom in NFTs \u2014 the unique digital vehicles that enable users to tokenize real world assets and are causing a ruckus in the art world \u2014 has been accompanied by another less welcome boom: Intellectual property theft. Since an NFT is non-duplicable,\u2026","rel":"","context":"In "Tech"","block_context":{"text":"Tech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/tech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/456.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543590,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/are-nfts-really-booming-or-are-traders-having-us-on\/","url_meta":{"origin":564909,"position":3},"title":"Are NFTs really booming \u2014 or are traders having us on?","author":"enterpriseam admin","date":"8 February 2022","format":false,"excerpt":"All is not quite as it seems in the pixelated, unregulated world of NFTs: \u201cIrregular sales\u201d on nonfungible token (NFT) trading platforms are raising eyebrows among crypto insiders, who say that many multi-bn USD transactions on the digital assets may be \u201cwash trades\u201d that give false impressions of high demand,\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550692,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/17\/carbon-linked-crypto-tokens-may-do-more-harm-than-good-jack-dorseys-nft-of-his-first-tweet-has-lost-almost-all-of-its-value\/","url_meta":{"origin":564909,"position":4},"title":"Carbon-linked crypto tokens may do more harm than good + Jack Dorsey\u2019s NFT of his first Tweet has lost almost all of its value","author":"enterpriseam admin","date":"17 April 2022","format":false,"excerpt":"With no regulations in sight, carbon-linked crypto tokens may do more harm than good: Crypto enthusiasts have attempted to bring the green revolution to the crypto market, converting carbon offset credits into digital tokens and selling them, the Financial Times, citing carbon analysts. These carbon-linked cryptos have soared from USD\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/490.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580438,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-losses\/","url_meta":{"origin":564909,"position":5},"title":"Has the NFT bubble permanently burst? + Meta isn\u2019t saying goodbye to AR just yet, despite losses","author":"enterpriseam admin","date":"27 December 2022","format":false,"excerpt":"With the NFT market on life support, creators are pivoting to real-world assets to stay afloat: The market for non-fungible tokens (NFTs) has been plummeting since April amid a broader sell-off of crypto made worse by the collapse of major crypto exchange FTX, the Financial Times reports. Sales of NFTs\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/794.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564909"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564909\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564910"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564909"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564909"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}