What’s an NFT? It’s What Makes GIFs Worth Big Bucks

Consider them as digital certificates of authenticity. A non-fungible token, or NFT, is a singular, irreplaceable identifier created by an algorithm: A definite barcode for a digital piece of artwork or collectible. It’s an answer of kinds to an issue that’s lengthy confronted digital artists: create shortage for an merchandise that may be infinitely reproduced. Uniqueness is the explanation (okay, one purpose) that the Mona Lisa is priceless, whereas a signed and numbered Peter Max print of his model of the Mona Lisa is $5,500 and Mona Lisa posters are $9.95. Cash is fungible, that means that any greenback invoice serves its function in addition to another one. Pictures of the identical GIF or meme are fungible — except yours comes with an NFT declaring it to be the “actual” model.