It establishes a permanent, irrefutable digital ledger of all transactions that take place on the blockchain.
For example, it records information about the creator of an NFT. Creators can retain ownership rights to their NFTs and choose to create copies of them as many times as they want. However, each copy will be less valuable than the original, similar to the replication of physical collectibles such as paintings.
An NFT can be purely digital. It can be an image, GIF, video, or audio recording. NFTs can also represent physical objects in the real world, such as trading cards or sneakers. For these NFTs, buyers can purchase only the digital original, or both the physical and digital versions.
Some NFTs include smart contracts that mean an NFT’s creator receives a royalty each time their creation is sold.
YouTube as a birthday gift for his friend. That friend died in March of this year, Gordon said, so he decided to sell the video along with the trademark to the phrase “Honey Badger Don’t Care” (he obtained trademarks for the phrase in 2012, according to US Patent and Trademark Office records, and went to court to fight others trying to capitalize on the video’s success) as a way to “move on” after the death.
“I’m 10 years removed from posting a video, it has over 97 million views, the person I made the video for passed away and I felt the time was right,” he told Insider of his decision to sell the footage as an NFT.
The ‘Honey Badger’ NFT was auctioned alongside other viral videos
Gordon said NetGems, an agency working with viral creators to sell their videos as NFTs, reached out to him in April and offered to help him put the video up for auction.
Earlier that year, New York art collector and gallerist Todd Kramer claimed hackers stole more than $2 million worth of his NFTs.
And high-profile scams like these could theoretically help kill the hype behind NFTs and thereby their value. In fact, daily average sales of NFTs dropped by 92% during the week of May 2, 2022 compared to its high in September, according to data site NonFungible.
In any case, you should carefully vet any NFTs you’re purchasing.
Research the people and companies selling the NFTs to make sure they’re legit and verified.
Should I invest in NFTs?
Wang recommends the NFT curious learn all they can about NFTs and join Discords (a type of social media community) before jumping into the market.
Resources include the following:
- CoinDesk, “What Are NFTs and How Do They Work?” — Collectible sports cards, virtual real estate, digital sneakers — this resource provides examples of different types of NFTs and takes a deep dive into how NFTs work.
- Forbes Advisor, “What You Need to Know About Non-fungible Tokens (NFTs)” — Here is a description of how NFTs differ from cryptocurrency, how they work, and more.
- Hedera Hashgraph, “What Is a Non-fungible Token (NFT)?” — What is fungibility? What is nonfungibility? Learn more about the differences and the unique attributes of NFTs.
How do NFTs work?
The primary characteristic of an NFT is that it is exchangeable but irreplaceable. This means that it cannot be traded at equivalency with another NFT, because each is unique, thanks to its identification codes and metadata.
The team of experts behind The NFT University have ensured that all aspects of NFTs are comprehensively discussed, to maximise the chances to make large profits.
Array of Utilities in Every Tier for the Holders:
The NFT University plans to release 5,555 NFTs. They will be sold in three phases, and are being offered in a tiered system, offering access to a range of benefits under each tier.
These benefits include hiring strategies, one-to-one mentoring, and the most lucrative, fully funded trips to Dubai. Members of all tiers will get access to NFT University’s learning platform.
Now there is some great news for those who are just starting their journey and looking for a platform for guidance, training and advice.
Introducing – The NFT University for NFT Newcomers
The NFT University brings together crypto enthusiasts and experts, with the mission of building a platform that will offer advice, tools and all the knowledge resources that newcomers need to succeed in this highly competitive market. The NFT University aims to provide advice, recommendations, and guidelines for all newcomers.
The NFT landscape can be complex and challenging for beginners, who find it difficult to navigate through the system and make a profit.
Thank you for stopping by for a quick introduction to my humble work and to provide you with some backstory about the inspiration behind it.
Initially, I took these images for personal historical purposes only. After learning about digital art and being a long-term crypto investor, I decided to immortalize them by giving them a digital twist and making them available in the NFT marketplace.
My professional background includes 7 years as a registered nurse from 2014 to the present day.
Using the VHS filter from Snapchat, I took 8 different selfies on different days, walking down the hall at my workplace in the most natural way.
Always on my way to or returning from the laboratory.
Why this filter? It is currently one of the few filters that I like, and it has the date and time the image was taken.
We’re only beginning to see what is possible.”
What is the point of a non-fungible token?
The point of a non-fungible token or NFT is to create something that’s unique and therefore valuable. NFTs are tied to unique codes that exist on a blockchain, a public digital ledger that records transactions such as cryptocurrency trades.
These codes verify ownership and can’t be replicated. Theoretically, this makes it harder for others to steal someone’s NFTs.
What are some examples of non-fungible tokens?
A non-fungible token is any digital file can be “minted” or “tokenized” into an NFT, including digital artwork, videos and items within online games.
But NFTs can also be digital contracts representing ownership of physical items such as fine art, designer clothing and real estate.
The creator will be selling the original video, as well as the trademark to the phrase.
The person behind the viral “Crazy Nastya– Honey Badger” video joins the legion of creators to sell a piece of viral content as a non-fungible token (NFT), a digital property stored on a blockchain and purchased with cryptocurrency.
The 2011 video, which currently has over 97 million views on YouTube, features National Geographic footage of a honey badger with a voiceover by Christopher “Randall” Gordon, which he described to Insider in a recent interview as “a wildlife narrator who was absolutely terrified of other animals.”
As the footage rolls, Gordon can be heard saying things like, “Ew! What’s that in its mouth? Oh, it’s got a cobra? Oh, it runs backwards?”
But in the decade since, the video has been mostly remembered for one iconic line: “Honey Badger don’t care.
The aim is to offer everything that is required for a successful project, while learning a great deal about NFTs.
To view the tiers in detail and their utilities, please visit: https://www.thenftuni.com/
Kamal Mohammad, The NFT University’s Founder and an International NFT expert
Between April 28th and May 1st 2022, Kamal Mohammad travelled to the Korça Information and Technology Hub powered by UBT University in Korca, Albania. Mr. Kamal Mohammad and Dr. Maria Dojce, Docent of the University “Fan S.
Noli” Albania, director and representative of the Korça Information and Technology Hub, had several meetings during this business trip, where they discussed several strategies, future goals and actions.
During this meeting, the Korca HUB and Mr. Kamal Mohammad signed a cooperation agreement.