NFTs represent unique digital items like artwork, collectibles, and in-game items. They use blockchain technology to record proof of ownership for digital files. This allows creators and collectors to verify authenticity and ownership of unique digital items that can be easily copied otherwise. NFTs use cryptography and digital signatures to uniquely identify original works and establish proof of ownership for digital assets.
3. NFT stands for Non-Fungible Token. Non-fungible means
that something cannot be exchanged for another item
because it’s unique.
For instance, one piece of art is not equal to another.
Both have unique properties.
6. Takes an input, does something to
that and the input is changed. The
same thing would result in the same
conclusion with the encryption.
You know the rules of your encryption,
adversaries doesn't know it.
ENCRYPTION
7. Output for an encryption.
ID of the creator
No cheating!
token
8. An nft is a token that was
created with a digital asset.
It sits on the regular blockchain.
No one is seeding? Then cannot download.
This is how blockchain operates today.
NFT
9. Tokens that live on blockchain and
represent ownership of unique items.
Why is that useful? Well, tracking who
owns a digital file is tricky because it
can be copied and effortlessly.
NFT
10. It's my
NFT!
No, it's
mine!
So how can you
prove who’s the
original owner
when everyone
has and
identical copy
of the file ?
11. And you, the
artist, become
the owner.
Imagine that you made a piece of
digital art, essentially a JPG, on your
computer.
The NFT that represents your art
contains a bit of information
about it.
Unique fingerprint of the file, a
token name and a symbol.
How does ıt work?
12. HASH
(unique fingerprint)
Token Name
Symbol
URL
It’s important to note that the
artwork itselff is not stored within
the NFT or the blockchain.
Only its attributes such as the fingerprint or
hash of the file, a token name, and symbol and
optionally a link to a file hosted on IPFS.
(IPFS is a file sharing system that can be
leveraged to more efficiently store and share
large files. It relies on cryptographic hashes
that can easily be stored on a blockchain.)
How does ıt work?
14. While the token owner owns the original
artwork, the creator of the NFT retains the
copyright and the reproduction rights. So an
artist can sell his original artwork as an NFT,
but he can still sell prints.
really?
15. Now you can sell that by creating a
transaction on the blockchain. The blockchain
makes sure that this information can never be
tampered with.It also allows you to track
who’s the corrent owner of a token and for
how much it has been sold in the past.
HOW TO
SELL?
16. Now you can sell that by creating a
transaction on the blockchain. The blockchain
makes sure that this information can never be
tampered with.It also allows you to track
who’s the corrent owner of a token and for
how much it has been sold in the past.
transactıons
18. In-game Items
Aside from digital art, NFT’s can also be used
to sell concert tickets, domain names,rar in-
game items, real estate.
Concert Tickets
Domain Names Real-Estate
19. Game items could both
be traded through the
in-game marketplace
and also the NFT
marketplaces on other
blockchains.
In-game Items