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Five things you need to know before buying an NFT

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  The market for NFTs has become very expressive over the past two years, following multi-million dollar sales of digital art that were tokenized on the blockchain — hence the term “non-fungible token”, and Acronym NFT. Over the past year, the new virtual asset class has become popular not only with cryptocurrency investors , but also with celebrities, who don’t hesitate to spend thousands of dollars on Ethereum to own or produce their NFTs. In 2021, the global NFT transaction volume will be 23 billion US dollars , most of which will come from the “fear of being excluded” (“FOMO”), which has driven many people to invest in the industry. But many new investors know little or nothing about how NFTs work, leaving them prone to mistakes that can cause them headaches. Therefore, to enter the world of non-fungible tokens, one must be careful, especially for beginners, because the investment style can be affected by the volatility of the crypto market. There is risk of loss, and there are...

Introduction to NFT System

  NFT underlying technology The hidden innovation that NFT depends on — blockchain . The main public, non-tamperable, and tradable qualities of NFT depend on the current blockchain innovation. The data structure of the blockchain is divided into a block header and a block body. Different blocks are connected through the hash value of the previous block header to form a chain structure. The block header and the block body are connected through the Merkle root field. connected. Taking Ethereum as an example, the data stored in the block header mainly includes the hash value of the parent block header, the hash value of the root node of the Merkle tree related to the current block transaction, the block difficulty value, the miner address, the block height, the Gas Upper limit, Gas usage, timestamp, Nonce value, etc.   nft development  The data stored in the block body includes transaction record table and uncle block, where the NFT transaction record is stored in the data r...

How blockchain works and the impact it could have on the world

  What is blockchain? A blockchain is a database of information that stores transaction records that have not been tampered with. These records may include ownership of assets (stocks, bonds, real estate, cars, art), birth certificates, driver’s licenses, and votes cast. The blockchain is best known for its ability to store ownership records for bitcoin, but its potential applications are far broader than that. Compared with current record storage methods, blockchain has three main advantages: cost. Transaction records can be updated automatically, saving expenses such as counting votes or hiring a lawyer to change land titles. fast. Transaction records can be updated almost in real time. Conversely, a company’s accounts may only be updated once a year, and counting votes takes time. data integrity. Land information can be tampered with, company profit and loss statements can be manipulated, and options can be backdated, but no one can change the data in the blockchain. How Blockch...

Talking about NFT and the Metaverse

  With the continuous development and improvement of the digital industry, as well as its more extensive and in-depth application in real life, some people believe that in the near future, human beings may fully enter the digital age. In today’s world, the digital industry has penetrated into many aspects of life. This article mainly talks about my understanding of NFT, a technology that many people don’t know much about, and the concept of the current metaverse. NFT, the full name is a non-fungible token or a non-fungible confirmation certificate. It is the only cryptocurrency token used to represent digital assets, including in the form of pictures and video clips, that can be bought and sold. This concept may be a bit abstract. Here is a common example: the artist draws an electronic portrait, the ownership of the painting belongs to the artist, he is the sole owner of the portrait, and the portrait is unique, no one else cares. Whether it is downloaded or reprinted, the paintin...

What is a Non-Fungible Token? The Rise of NFT in the Cryptospace

  The resurgence of non-fungible tokens (NFTs) underscores the momentum of the cryptocurrency industry. While non-fungible tokens are not a new concept in the industry, we are witnessing a renewed interest in this concept, which has led to a revolution in digital technology. This infographic vividly illustrates what a non-fungible token is and how it affects newcomers to Bitcoin. Specifically, this infographic will explore what a non-fungible token is, its main differences from Bitcoin, its different forms, and how it works. Finally, this infographic provides some suggestions to help you launch non-fungible tokens smoothly. What is NFT? The Rise of Non-Fungible Tokens in Cryptocurrency What is a non-fungible token? A non-fungible token is a unique digital unit of data stored on a blockchain that proves the ownership and authenticity of a specific digital or tangible asset (including the rights associated with it). Bitcoin and non-fungible tokens Bitcoin and  Non-fungible token...

The use of NFT technology in brand marketing

  There are more and more typical blockchain events out of the circle. NFTs and traditional brands are small hotspots in the industry recently, and events of well-known brands issuing NFTs break out from time to time. This paper describes the theoretical and practical application methods of brand + NFT technology in the field of marketing. Let me talk about some theoretical knowledge of brand marketing. These have nothing to do with blockchain web3. I copied it from the Internet. The main functions of the brand are: 1) To transmit the quality signal of the product. 2) Sending market position signals. Nowadays, the social material is extremely rich, and the signal transmission changes brought by Internet informatization have brought new challenges to the transmission of the two signals of this brand: 1) For consumers, the quality of products is more and more dependent on reviews and trust KOLs. For example, when we eat, we read public reviews, and when we buy things on Taobao, we mu...