AUGUST 20235Today, NFT is gaining popularity. Though this concept is quite difficult in understanding, nevertheless it is very easy to preserve your talent, creativity and most important your unique assets. Firstly when we talk about fungible assets like gold, indeed it is replaceable, whereas NFTs are non-replaceable i.e. it cannot be replaced by anything. Thus, NFTs are unreplicable, unfakeable, and unbudgeable. In the world of traditional art, NFTs are redefining the value of art. Earlier the artist where supposed to wait for exhibitions and art galleries to give them a chance to showcase their talent and earn, but now artists themselves can promote their art work and simultaneously can preserve their ownership with the help of NFTs. Further, we have multiple possibilities to be safe and secure, as NFTs also helps in authentication and safe storage of important credentials & obscure concepts like secret & confidential password, birth certificate, agreements and so on. Digitization is immensely helping to generate unique ideas & products and safeguard harnessing unique methodologies too. When it comes to art, various types of arts like paintings, music, games, videos, documentary movies what not. Just create and seal it with unique serial number or a seal of authenticity. This seal reveals about the owner, the metadata recorded on a decentralized blockchain and verified by network participants. It depicts the whole detailed info about owner. Isn't this blissful? Due to increased frauds and threats in a real time world, now you can stay stress-free from any such intruders. Do you know what, back then when first NFT was coined we were not even aware what NFT was. The first NFT, `Quantum' was minted by Kevin McCoy and Anil Dash in May 2014 on a decentralized name registration database called `Namecoin'. It consists of a video clip made by McCoy's wife. You might be wondering what minting is all about. Let me clear your doubts. Minting is nothing but creating a unique token in a blockchain. Now what is token? Tokens are a type of entry on the blockchain. They represent smart contracts pertaining to the information related to the owner and their asset. Point to be noted that blockcain has replaced banks when it comes to NFTs, crypto and so on. Although it is easy to entry in a blockchain but it is next to impossible to exit, because the data remains forever. It neither can be changed nor can be erased. Who owns the asset and further whom the asset is sold apart from these two parties none can have access and authority on that particular asset. Since 2014, as the concept of NFT kept evolving it further evolved in 2015 with more options like NFT is possible in gaming too. Next development was in 2016 i.e. using NFT for memes. As time passing, NFT is steadily progressing and creating a new benchmark in the technology advanced world. Therefore, NFT is increasingly ubiquitous! Assistant Managing EditorHeena KousarNFT: Creating the Future full of Authenticity & LoyaltyEDITOR'S NOTE"NFTs are birth certificates for the offspring of creators", Dane Scarborough
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