Care bear nft

care bear nft

Ownership is baked into the content itself.

When they sell their content, funds go directly to them. If the new owner then sells the NFT, the original creator can even automatically receive royalties. This is guaranteed every time it’s sold because the creator’s address is part of the token’s metadata – metadata which can’t be modified.

The copy/paste problem

Naysayers often bring up the fact that NFTs “are dumb” usually alongside a picture of them screenshotting an NFT artwork. “Look, now I have that image for free!” they say smugly.

Well, yes. But does googling an image of Picasso’s Guernica make you the proud new owner of a multi-million dollar piece of art history?

Ultimately owning the real thing is as valuable as the market makes it.

Care bear nft

NFTs, DAOs, fractionalised tokens are all developing at different paces. But all their infrastructure exists and can work together easily because they all speak the same language: Ethereum. So watch this space.

More on DAOs

Ethereum and NFTs

Ethereum makes it possible for NFTs to work for a number of reasons:

  • Transaction history and token metadata is publicly verifiable – it’s simple to prove ownership history.
  • Once a transaction is confirmed, it’s nearly impossible to manipulate that data to “steal” ownership.
  • Trading NFTs can happen peer-to-peer without needing platforms that can take large cuts as compensation.
  • All Ethereum products share the same “backend”.

    Put another way, all Ethereum products can easily understand each other – this makes NFTs portable across products.

The more a piece of content is screen-grabbed, shared, and generally used the more value it gains.

Owning the verifiably real thing will always have more value than not.

Boosting gaming potential

NFTs have seen a lot of interest from game developers. NFTs can provide records of ownership for in-game items, fuel in-game economies, and bring a host of benefits to the players.

In a lot of regular games you can buy items for you to use in your game. But if that item was an NFT you could recoup your money by selling it on when you’re done with the game.

You might even make a profit if that item becomes more desirable.

For game developers – as issuers of the NFT – they could earn a royalty every time an item is re-sold in the open marketplace.

  • As mentioned above, your private key is proof-of-ownership of the original. This tells us that the private keys behind that address control the NFT.
  • A signed message can be used as proof that you own your private keys without revealing them to anybody and thus proving you own the NFT as well!
  • No one can manipulate it in any way.
  • You can sell it, and in some cases this will earn the original creator resale royalties.
  • Or, you can hold it forever, resting comfortably knowing your asset is secured by your wallet on Ethereum.
  • And if you create an NFT:

    • You can easily prove you’re the creator.
    • You determine the scarcity.
    • You can earn royalties every time it’s sold.
    • You can sell it on any NFT market or peer-to-peer.

    They can only have one official owner at a time and they’re secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.

    NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable for other items because they have unique properties.

    Fungible items, on the other hand, can be exchanged because their value defines them rather than their unique properties.
    For example, ETH or dollars are fungible because 1 ETH / $1 USD is exchangeable for another 1 ETH / $1 USD.

    The internet of assets

    NFTs and Ethereum solve some of the problems that exist in the internet today.

    And that’s always been the plan.

    We’re not here to defend the environmental footprint of mining, instead we want to explain how things are changing for the better.

    A greener future…

    For as long as Ethereum has been around, the energy-consumption of mining has been a huge focus area for developers and researchers. And the vision has always been to replace it as soon as possible. More on Ethereum’s vision

    This vision is being delivered right now.

    A greener Ethereum

    Ethereum is currently going through a series of upgrades that will replace mining with staking.

    This will remove computing power as a security mechanism, and reduce Ethereum’s carbon footprint by ~99.95%1.

    From the secure, transparent, and global ledger, the PACT team, through the Bear Necessities Sanctuary, hopes to find a breakthrough. This will highlight the potential of the blockchain and how it can impact the community. The growth of NFTs and their ability to be an alternative store of value, allowing fast movement of value across the web, present new opportunities to artists and marginalized groups.

    PACT and similar welfare groups struggle to stay afloat without funding from the corporate world or the government.
    However, NFTs can offer a lifeline. In exchange for funds received, the supporter would receive a piece of curated art.

    PACT Plans for the Metaverse

    With the model taken by Bear Necessities Sanctuary, PACT hopes will inspire other welfare groups. The Bear NFT drop is one of the key events on their Treasure Map.

    Players can use GS1 to buy NFTs, which are unique digital assets, or game items that can be used in games.

    In the game, players will be able to use the NFTs that they own for certain upgrades and can also participate in battles with other players. One can buy existing NFTs from the NFT GamingStars marketplace. They have a collection of 1000 Spacecraft NFTs that will be utilized in their upcoming game for the rewarding system.

    On successful minting, one will receive the minted quantity of NFTs directly in your wallet. The price of the initial mint is 0.1 BNB equivalent to GS1.

    GamingStars will push the boundaries of what gamers can do with their items by creating an ecosystem where they can earn rewards through gameplay and trade these NFT items freely between games. On their platform players can trade and exchange game items between different games.

    For example, an NFT could represent:

    • Digital Art:
      • GIFs
      • Collectibles
      • Music
      • Videos
    • Real World Items:
      • Deeds to a car
      • Tickets to a real world event
      • Tokenized invoices
      • Legal documents
      • Signatures
    • Lots and lots more options to get creative with!

    An NFT can only have one owner at a time. Ownership is managed through the uniqueID and metadata that no other token can replicate. NFTs are minted through smart contracts that assign ownership and manage the transferability of the NFT’s.
    When someone creates or mints an NFT, they execute code stored in smart contracts that conform to different standards, such as ERC-721. This information is added to the blockchain where the NFT is being managed.

    It could be as little as 0.1666666667kWh of energy for 100,000 transactions.

    Importantly this improves the energy efficiency while preserving Ethereum’s decentralization and security. Many other blockchains out there might already use some form of staking, but they’re secured by a select few stakers, not the thousands that Ethereum will have. The more decentralization, the more secure the system.

    More on energy estimates

    We’ve provided the basic comparison to Visa to baseline your understanding of proof-of-stake Ethereum energy consumption against a familiar name.

    However, in practice, it’s not really correct to compare based on number of transactions. Ethereum’s energy output is time-based.

    Found something you love but want to make it even more uniquely you? Good news! Many sellers on Etsy offer personalized, made-to-order items.

    To personalize an item:

    1. Open the listing page.
    2. Choose the options you’d like for the order. This will differ depending on what options are available for the item.
    3. Under “Add your personalization,” the text box will tell you what the seller needs to know. Fill out the requested information.
    4. Click “Buy it now” or “Add to cart” and proceed to checkout.

    Don’t see this option? The seller might still be able to personalize your item.

    You’re not locked in to any platform and you don’t need anyone to intermediate.

    Scarcity

    The creator of an NFT gets to decide the scarcity of their asset.

    For example, consider a ticket to a sporting event. Just as an organizer of an event can choose how many tickets to sell, the creator of an NFT can decide how many replicas exist. Sometimes these are exact replicas, such as 5000 General Admission tickets.
    Sometimes several are minted that are very similar, but each slightly different, such as a ticket with an assigned seat. In another case, the creator may want to create an NFT where only one is minted as a special rare collectible.

    In these cases, each NFT would still have a unique identifier (like a bar code on a traditional “ticket”), with only one owner. The intended scarcity of the NFT matters, and is up to the creator.

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