“NFTs have blown up in the past year and have been thoroughly dissected and examined by people, but what are NFTs worth as a creation? What can they do?”--Poppy Zaiger, 6th grade
Bored Ape Yacht Club If you have been on the internet lately, you have probably heard NFT’s. But what are they? Turns out a lot of people don’t really know. But for now I am going to give you the basics.
NFT stands for non-fungible token. If you buy an NFT, you own it and you can do anything you want with it. All NFT’s are on block chains, the creator of the said NFT has to pay for a block chain to make NFT’s. Every NFT is unique.
According to MB AMCI , “They are digital assets that can not be exchanged or substituted as they are unique. With NFTs, each asset has a digital ownership right or certificate of authenticity attached to it, with information about it such as a unique fingerprint of the file, a token name and a symbol. NFTs are created and stored in the block chain with their full history. Once in it, NFTs can not be duplicated or manipulated but can be traded.”
NFT’s also have a lot to do with crypto currency, all NFT’s are bought with a crypto currency called ethereum. Ethereum is very expensive and some NFT’s cost more than others. One NFT might sell more than another NFT, the internet doesn't know why most of them are so expensive, And most of the NFTs are ugly in ways like they have very stiff and emotionless expressions and too much detail in one area and too little in the other area.
Speaking of which, let's talk about the public's response to NFTs.
A lot of people find NFTs as interesting and complex, But most of the internet laughs about most NFTs designs and how they look rather ugly and flat. The best example of people's hatred and love for NFTs is Bored Ape Yacht Club.
Bored Ape Yacht Club has rather unsettling NFTs that most people clown on. But people still buy the Bored Ape Yacht Club NFTs, not for their art but for the status of it. A lot of people buy Bored ape yacht club NFT’s because they are very expensive and it is more for a personal win.
As Jazmin Goodman from CNN wrote, “Non-fungible tokens, or NFTs, are the latest cryptocurrency phenomenon to go mainstream. And after Christie's auction house sold the first-ever NFT artwork — a collage of images by digital artist Beeple for a whopping $69.3 million — NFTs have suddenly captured the world's attention.” The rich and the famous are buying NFTs to show wealth and some are even selling their own collections of NFTs. But personal gains or trying to invest in the next big thing falls short when you are being scammed, by the way let's talk about that!
There have been many NFT scams, and the most egregious one was called Evolved Apes. Investors were tricked into investing in a NFT market game, thinking they would see these NFT’s featured in the game on the Opensa marketplace, but after enough people invested, the creator of the NFT collection ran off—deleting all of their socials and getting away with $2.7 million.
NFT stands for non-fungible token. If you buy an NFT, you own it and you can do anything you want with it. All NFT’s are on block chains, the creator of the said NFT has to pay for a block chain to make NFT’s. Every NFT is unique.
According to MB AMCI , “They are digital assets that can not be exchanged or substituted as they are unique. With NFTs, each asset has a digital ownership right or certificate of authenticity attached to it, with information about it such as a unique fingerprint of the file, a token name and a symbol. NFTs are created and stored in the block chain with their full history. Once in it, NFTs can not be duplicated or manipulated but can be traded.”
NFT’s also have a lot to do with crypto currency, all NFT’s are bought with a crypto currency called ethereum. Ethereum is very expensive and some NFT’s cost more than others. One NFT might sell more than another NFT, the internet doesn't know why most of them are so expensive, And most of the NFTs are ugly in ways like they have very stiff and emotionless expressions and too much detail in one area and too little in the other area.
Speaking of which, let's talk about the public's response to NFTs.
A lot of people find NFTs as interesting and complex, But most of the internet laughs about most NFTs designs and how they look rather ugly and flat. The best example of people's hatred and love for NFTs is Bored Ape Yacht Club.
Bored Ape Yacht Club has rather unsettling NFTs that most people clown on. But people still buy the Bored Ape Yacht Club NFTs, not for their art but for the status of it. A lot of people buy Bored ape yacht club NFT’s because they are very expensive and it is more for a personal win.
As Jazmin Goodman from CNN wrote, “Non-fungible tokens, or NFTs, are the latest cryptocurrency phenomenon to go mainstream. And after Christie's auction house sold the first-ever NFT artwork — a collage of images by digital artist Beeple for a whopping $69.3 million — NFTs have suddenly captured the world's attention.” The rich and the famous are buying NFTs to show wealth and some are even selling their own collections of NFTs. But personal gains or trying to invest in the next big thing falls short when you are being scammed, by the way let's talk about that!
There have been many NFT scams, and the most egregious one was called Evolved Apes. Investors were tricked into investing in a NFT market game, thinking they would see these NFT’s featured in the game on the Opensa marketplace, but after enough people invested, the creator of the NFT collection ran off—deleting all of their socials and getting away with $2.7 million.
Evolved Ape Even though this isn’t the only recent NFT scam, this one is by far the most popular story and has sparked outrage for NFTs and the dangers of them. And even though the investors saw the red flags, some of the red flags were, There was no name to the game, the creator was anonymous, and they still invested in Evolved Apes.
The first NFT animated series is aptly called “Red Ape Family.” There has not been much stir on this subject because it is a very odd subject. A lot of people see the Red Ape Family as comprising all of the bad things about NFTs— like how it is unsettling to look at the apes that had bulging eyes and overly detailed faces, and the animation is sloppy and unprofessional, how the NFTs were priced, or how the creators didn’t care if it looked good, just that it is the first NFT cartoon series.
But the worst thing about “Red Ape Family” is that it cost $1.8 million to buy the first NFT cartoon. And it is clear that the creators of this cartoon only care about the money and the stock market with this one dumpster fire of a pilot episode. . So let's just say that people didn’t receive the first NFT cartoon very well. Zaini Media, the creators of Red ape family, said that episode 2 is coming out soon.
The first NFT animated series is aptly called “Red Ape Family.” There has not been much stir on this subject because it is a very odd subject. A lot of people see the Red Ape Family as comprising all of the bad things about NFTs— like how it is unsettling to look at the apes that had bulging eyes and overly detailed faces, and the animation is sloppy and unprofessional, how the NFTs were priced, or how the creators didn’t care if it looked good, just that it is the first NFT cartoon series.
But the worst thing about “Red Ape Family” is that it cost $1.8 million to buy the first NFT cartoon. And it is clear that the creators of this cartoon only care about the money and the stock market with this one dumpster fire of a pilot episode. . So let's just say that people didn’t receive the first NFT cartoon very well. Zaini Media, the creators of Red ape family, said that episode 2 is coming out soon.
