So, right now, you're looking at two $500 bills in my hand, and I'm showing you this for a reason.
Why am I displaying this to you?
Please allow me to inform you about it.
Consider the following:
I have two 500- denominated notes in my pocket, and you have two 500-
denominated notes in your pocket, hence the notes I have and the notes you have are of equal worth.
Yes, we can replace it and swap it out amongst ourselves.
You give me your note, and I give you mine.
It makes no difference because the worth is the same.
But let's have a look at an example.
Assume Ram is on one side and Shyam is on the other.
Ram gets a one- note and Shyam gets a two-
note.
They now both have 500 dollars and are on an equal footing.
"Give me your note, complete the trade, it doesn't matter," Ram tells Shyam now.
He has 500, and he has 500, and Ram says to me, "Sir, you are giving me 500."
I'd want to ask for a favor.
Please sign and return this message to me.
I have to sign if Ram says this to me.
I'm not sure why I'm signing in front of you.
I'll tell you everything about it.
Let's pretend I signed this message here.
So I put a sign in front of you with today's date written on it.
Then I signed a note in front of you and placed the date on it.
This message has today's date on it, and I've also said that I signed it in green ink.
As a result, it's a one-of-a-kind color.
You now have this memo, which I provided to Shyam.
Now Shyam tells Ram about his brother's actions and hands me the signed paper.
Ram will respond that he is unable to provide it at this time.
"Take my five hundred note and swap it," Shyam asks.
"No, I'm sorry, but I'm no longer able to trade," Ram replies.
Your note has now become identical to the others.
It's interchangeable.
This note, however, is not fungible.
There isn't a single note like that in the entire universe.
This is the sole note signed in front of the crowd, and it's in green.
I will not give it to you if it is with me.
I'm going to sell this note for $5,000.
It has risen in value.
That's what Ram said.
Now, Shyam claims that they are the same, but here's why they aren't interchangeable.
Do you follow me?
Because it included such a thing, it rose in value.
This can be done with anything.
You have the ability to bring value to anything.
Let's pretend you have a phone and it's an Apple phone, and I have an Apple phone as well.
But what if the data on your phone allows you to do something different with it?
If you have gold plating applied to your phone, it will no longer be fungible.
There isn't a single non- fungible phone on the planet.
This is how the idea of non- fungible works.
I have these notes in my pocket because I'm going to tell you about Ram's plans for non- fungible notions.
Ram declares that whatever I hold on today's date is now my non- fungible asset, to which I attach the token.
Now I'm going to explain what the token is.
NF is a non- fungible material.
Allow me to explain what a token is.
This will then become NFT.
The Ethereum Blockchain, specifically, provides the foundation for this NFT idea.
This blockchain technology is now available to the general public.
This denotes a safe environment.
You are aware that all of the entries have been completed.
He claims that I will photograph this memo and use it as a means of demonstrating that I have an NFT.
It is available for purchase by anybody who wishes to do so.
Ram, on the other hand, claims that not only will he accomplish it, but that he is also a graphic designer.
I'll draw a diagram.
I'm going to make a GIF.
I'm going to produce a jpeg, post a picture, or start a blog.
He may say whatever he wants, and I'll tell them it's non- fungible since GIFs like these don't exist anywhere.
This is something I created.
This is the NFT for me.
This is starting to resemble a token from T's perspective.
This is beginning to resemble a talisman.
Because of the addition of the blocking technology.
Now, according to the NFT principle, we will provide extra benefits to the inventor.
What advantages will it provide?
Anyone may buy or sell your NFT here.
You will receive this money if someone comes out and buys stuff.
But imagine that the following time same buyer sells it to the same number of individuals.
Let's pretend he sells it to ABC.
How many times will it be sold to XYZ the next time ABC sells it to them?
A royalty of 10% will be paid to the inventor that many times.
Now you know what he's trying to express.
The idea is that if anything sells a lot of times, it will collect a 10% royalty every time it sells.
Similarly, a guy named Beeple sold digital artwork for 69 million dollars, or 500 crores.
He now refers to this digital artwork as an NFT.
It was bought by a man named Vignesh, who is of Indian descent, and he bought it here.
A ten percent royalty will be given to the inventor when he sells it to a company like ABC.
One of the creators was Beeple.
Once the creator has been registered, he will get royalties anytime the work is sold.
And there will always be a value enhancement.
If someone buys something for 500 crores, he will sell it for 600 crores or 1000 crores the next time he sells it.
Then he'll earn a ten percent royalty.
This is how it works.
Some argue that this idea is a bubble, claiming that it is impossible to sell something for such a high price when it is done online.
If you buy a painting, he will deliver it to your home.
It's all done digitally.
He'll now have a peek at his phone.
And now some people are saying that this is a fantastic notion; this is the way things are going to be in the future.
What are your thoughts?
Tell us in the comments section below.
Take a look at what art entails.
This is something about which no one can make a judgment.
Its worth is determined by the people.
You don't like to paint?
It bothers me as well.
But people admire that artwork, and we can't stop someone from paying ten million rupees for it.
As a result, as many art works as their auctions take place, individuals are composing NFT songs and making NFT films on today's day.
In reality, folks who take photos of baseball players are also taking NFTs of the shots that we wish to sell.
Indeed, Twitter's CEO, Jack Dorsey, stated that they had sold their first tweet for 180000000 by producing NFT!
That tweet is now in the public domain since it was sold.
A token is used to sell it.
This token, which you didn't comprehend when you started, will be sold again and again in the name of this token.
Today is my day to speak.
You can claim that you are selling your NFT on the internet, and you will receive a 10% royalty for each sale.
Some folks are now perplexed as to how this might happen.
How can regular folks accomplish this?
Go to the internet and look for any information you need.
Everything is available on the internet.
When you post the NFT marketplace on the Internet, it will be followed by a slew of other websites.
Crypto.com will appear before you.
OpenSea.io will appear before you.
Open crypto.com to check what others are selling in the name of NFT, and if you have anything unique that is non-
fungible and non-
you may make it your token and post it on the Internet.
You may look around and see what other people are up to, as well as sign in.
Can you do something similar to this and the weird things are more popular? Someone is selling his artwork for $1500, and similarly, here for $350 and here at $500.
We'll go over this subject one again.
You may see what I mean by looking up NFT Highest Bids on Google.
The artwork of Peepal was sold for $69 million.
Similarly, you can see that jpg is no longer available.
Do you have a look at that GIF file?
You've seen the cat's GIF file, right?
Is it really $500,000?
You'll now say that you paid $500,000 for it from someone who paid $500,000 for it.
However, it has been sold.
They will now receive 10% of the sale price.
Do you get what I'm getting at?
Do you have a look at what's being sold?
Twitter CEO Jack Dorsey tweeted that his tweet had sold, as I had said.
Everything is sold on NFT, which is becoming increasingly popular.
Now I want to know if you believe it's a bubble or if you believe it's the future.
Please leave a comment below.
If you understand NFT, I'm curious if you'll enjoy this blog and share it with others to help them comprehend.
And subscribe, and I'll see you in the next blog till you've made it on your own.
