You would be selling it directly through the decentralized systems. Or you could go to a NFT marketplace and sell it to someone. You could perhaps even level it up and improve it in different ways. So then with this NFT, you could continue to use it in the game. There are some games out there now on the blockchain that you can collect various monsters and get them as an NFT. How about we use this example? If you play Pokemon, you go into the game and you collect the various creatures. It’s not doing the cryptographic math to support the blockchain. Marks: Wait, so is this like mining Bitcoin in a small way?Īdam Goad: It is not quite the same thing. There are some games that have been made where by playing the game, you can generate NFTs of perhaps various equipment you can use. So what’s the big deal about non-fungible tokens, and why would I want to buy one?Īdam Goad: Artists can use them to sell their arts. Marks: It seems to me that it’s just a way of selling art and music and gaming collections on the web. And that could mean that they have more value when people are trying to sell them. But with NFTs … each of them is different and some of them are rarer or legendary. It only matters how many of them you have. Each Bitcoin is equal to every other Bitcoin. So they are non-fungible, not interchangeable.īitcoin is an example of a fungible token. But what if we had trading cards? If I had just some unknown rookie baseball player and you had a Babe Ruth, it would not be an equal swap. What’s the difference between a non-fungible token and a fungible token?Īdam Goad: A fungible token means that each of these tokens can be interchanged. People are selling pictures on the internet using a non-fungible token. And they’re going to try to sell me on non fungible tokens here, or at least explain it to me to the point where I have an understanding. Web3, which uses distributed computing, is the tool that’s used in so-called non fungible tokens - stuff that I don’t understand. Austin Egbert both at Baylor University about Web3. Marks: We have been talking to Adam Goad and Dr. A partial transcript, notes, and Additional Resources follow. What’s worth knowing about this burgeoning digital world? Here are Bob, Adam, and Austin again in Episode 2, What are NFTs?, Part 1: ![]() Marks and computer engineering grad students Adam Goad and Austin Egbert ( here and here), the discussion started with the projected metaverse and slowly turned to the wild world of cryptocurrencies and non-fungible tokens - like Twitter founder Jack Dorsey’s first tweet. ![]() In the first episode of the discussion between computer engineering prof Robert J. Share Facebook Twitter Print arroba Email
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |