This week in crypto. Dec 13-19: What's behind an NFT price, metaverse branding and more...
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What’s behind an NFT price? NFT, or more precisely the token standard ERC-721, was elected by the famous Art Review magazine as “the most influential person in art”, with a mention “non-human entity”. We understand that the magazine wanted to pay tribute to the fantastic emergence of NFTs this year, but they couldn’t be more wrong in formulating the nominee. In fact, they could have as well put a brush and a canvas on their list – just like these tools are used to create a physical painting, the ERC-721 standard is a tool to fix the ownership of a digital piece on the blockchain. That’s all.
This week in crypto. Dec 13-19: What's behind an NFT price, metaverse branding and more...
This week in crypto. Dec 13-19: What's behind…
This week in crypto. Dec 13-19: What's behind an NFT price, metaverse branding and more...
What’s behind an NFT price? NFT, or more precisely the token standard ERC-721, was elected by the famous Art Review magazine as “the most influential person in art”, with a mention “non-human entity”. We understand that the magazine wanted to pay tribute to the fantastic emergence of NFTs this year, but they couldn’t be more wrong in formulating the nominee. In fact, they could have as well put a brush and a canvas on their list – just like these tools are used to create a physical painting, the ERC-721 standard is a tool to fix the ownership of a digital piece on the blockchain. That’s all.