Naked Science Forum
General Science => General Science => Topic started by: BillSpinka on 24/12/2021 14:25:31
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Hello Friends,
Can someone tell me how can I create a NFT?
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In theory, you can create an NFT from anything - a photo, a sound, an artwork.
-You can do this by running an algorithm over the digital file on your own computer
- But to get anyone else to recognize it as an NFT, you need to load it on a blockchain/sharing platform like Ethereum
- Ethereum charges a fee for this service, since it takes a considerable amount of electricity and computer power to maintain the blockchain
- Although Ethereum is investigating more efficient algorithms
If you want to sell an NFT (and want to be believed by potential purchasers), you would first need to create or purchase some object which has a value, so that you can demonstrate that you currently own it.
- "Value" is very much in the eye of the beholder
- There have been cases of unscrupulous people creating and selling NFTs of objects which they do not own, and for which they did not seek teh permission of the owner/copyright holder
- Purchasers of such fake NFTs will find that they are worthless (unless they are particularly famous fakes - fame has a value all of its own, even if it is mostly smoke and mirrors: Just look at politicians and movie stars)
See: https://en.wikipedia.org/wiki/Non-fungible_token#Standards_in_blockchains