NFTS – Are Non Fungible Tokens which can be minted in the form of art, domain names, & music. An NFT is a "non-replaceable" (non-fungible) digitally signe d object. NFTS are based on a stored character string unlike a fungible token such as Bitcoins.
NFTS - Everything about NFT Art and collecting in the new digital age
The issue of cryptocurrencies, Blockchain, and NFTS, is something very complex. Such a lot so that perhaps very few people are aware of how it works. However, throughout this information, we will explain what it is and how it works. We will start talking from the base, what makes cryptocurrencies? What is the Blockchain? What is its function? For this, we have had the participation of several NFT expert companies in these matters.
Well, the term cryptocurrency arose around 2008 from the hand of Satoshi Nakamoto, an unknown person who hid under this pseudonym, and that to this day his true identity remains a mystery. The creator of this new payment method created Bitcoin, and hence the term "cryptocurrency" arose.
Therefore, the cryptocurrency is a digital currency, which is registered in the Blockchain, translated into Spanish, chain of blocks. “It's similar to an open server, an open server that enables individuals to view what they own and what they don't have in a transparent way. It offers new technology that allows us to keep control of the information”, says Marc Cercós, CEO of Champion Games. In general, the Blockchain allows all types of transactions to be carried out in a secure way, there is no possibility that it can be hacked, controlled, or modified by third parties.
NFTS: The weirdest thing about all this is that the Blockchain does not belong to any specific person. This platform works thanks to all those computers that are connected to the network, what is known as the "miners". Alberto Martín Mazaira, CEO of Depasify, in an interview, stated the following: “The Blockchain is a currency exchange site, it is a space for digitizing assets, which are the NFT'S, it is a space for decentralized finance, investment, etc."
What are NFTs?
Once the essentials are explained, we are going to delve a little more into the subject of NFTs. In the world of cryptocurrencies, there is not only the Blockchain and the different digital currencies (Bitcoin, Ethereum, etc.), there is much more, as is the case with NFTS.
NFTS was declared the main searched term of 2021 in the British Collins glossary. But, what do these acronyms refer to? What’s NFT mean? These phrases derive from the words Non-Fungible Items, transcribed into English as Non-Fungible Token. It is a unique digital asset owned by a single person. Owners can sell or auction it since being owned by you, individuals can do anything with it. And, like cryptocurrencies, NFTS are also located in the transaction system that we have talked about previously, the Blockchain. "An NFT can provide a sense of ownership over digital assets,”
This allows an individual to obtain, for reference, a bit of digital NFT art, games, Music NFTS, etc. By owning these assets, individuals can sell them to another person in the future.
The issue of cryptocurrencies, Blockchain, and NFTS, is something very complex. Such a lot so that perhaps very few people are aware of how it works. However, throughout this information, we will explain what it is and how it works. We will start talking from the base, what makes cryptocurrencies? What is the Blockchain? What is its function? For this, we have had the participation of several NFT expert companies in these matters.
Well, the term cryptocurrency arose around 2008 from the hand of Satoshi Nakamoto, an unknown person who hid under this pseudonym, and that to this day his true identity remains a mystery. The creator of this new payment method created Bitcoin, and hence the term "cryptocurrency" arose.
Therefore, the cryptocurrency is a digital currency, which is registered in the Blockchain, translated into Spanish, chain of blocks. “It's similar to an open server, an open server that enables individuals to view what they own and what they don't have in a transparent way. It offers new technology that allows us to keep control of the information”, says Marc Cercós, CEO of Champion Games. In general, the Blockchain allows all types of transactions to be carried out in a secure way, there is no possibility that it can be hacked, controlled, or modified by third parties.
NFTS: The weirdest thing about all this is that the Blockchain does not belong to any specific person. This platform works thanks to all those computers that are connected to the network, what is known as the "miners". Alberto Martín Mazaira, CEO of Depasify, in an interview, stated the following: “The Blockchain is a currency exchange site, it is a space for digitizing assets, which are the NFT'S, it is a space for decentralized finance, investment, etc."
What are NFTs?
Once the essentials are explained, we are going to delve a little more into the subject of NFTs. In the world of cryptocurrencies, there is not only the Blockchain and the different digital currencies (Bitcoin, Ethereum, etc.), there is much more, as is the case with NFTS.
NFTS was declared the main searched term of 2021 in the British Collins glossary. But, what do these acronyms refer to? What’s NFT mean? These phrases derive from the words Non-Fungible Items, transcribed into English as Non-Fungible Token. It is a unique digital asset owned by a single person. Owners can sell or auction it since being owned by you, individuals can do anything with it. And, like cryptocurrencies, NFTS are also located in the transaction system that we have talked about previously, the Blockchain. "An NFT can provide a sense of ownership over digital assets,”
This allows an individual to obtain, for reference, a bit of digital NFT art, games, Music NFTS, etc. By owning these assets, individuals can sell them to another person in the future.
How are NFTs being used today?
Are NFTs an opportunity for entrepreneurs? For connoisseurs or maybe those committed to the art world? Or is NFTS an idea that people should fear?
In principle, it does not seem that we have to be alarmed. NFTs have not come to deceive us, quite the contrary. Thanks to them, the doors have been opened to new market models, and some dare to say that NFTS has an almost unbreakable security system.
Nicolas Julia, the co-founder of Sorare, has shared his vision with us: “It is true that there has been an incredible increase in interest in NFTs in recent months, but they are not overrated. Their potential is enormous because they bring to the digital world two great advantages that were not possible before: proven scarcity (each NFT has its non-duplicable contract) and utility (it can be used for different purposes and on different platforms, not only in the company that created or issued them). "
NFTs have multiple application options. The ones that might sound like the most to you are those that are being used in the world of collecting. Thanks to the NFTS, a new way of conceiving this world has been born. Nicolas Julia defines it like this: "The creation of digital scarce goods thanks to Blockchain technology is unlocking the act of collecting in the digital space."
Little by little the mythical situation of exchanging physical cards between friends in the schoolyard is being left behind. New technologies manage to evolve even the simplest aspects of our life. For instance, one of the main recognised instances is that of NBA Top star NFTS.
Are NFTs an opportunity for entrepreneurs? For connoisseurs or maybe those committed to the art world? Or is NFTS an idea that people should fear?
In principle, it does not seem that we have to be alarmed. NFTs have not come to deceive us, quite the contrary. Thanks to them, the doors have been opened to new market models, and some dare to say that NFTS has an almost unbreakable security system.
Nicolas Julia, the co-founder of Sorare, has shared his vision with us: “It is true that there has been an incredible increase in interest in NFTs in recent months, but they are not overrated. Their potential is enormous because they bring to the digital world two great advantages that were not possible before: proven scarcity (each NFT has its non-duplicable contract) and utility (it can be used for different purposes and on different platforms, not only in the company that created or issued them). "
NFTs have multiple application options. The ones that might sound like the most to you are those that are being used in the world of collecting. Thanks to the NFTS, a new way of conceiving this world has been born. Nicolas Julia defines it like this: "The creation of digital scarce goods thanks to Blockchain technology is unlocking the act of collecting in the digital space."
Little by little the mythical situation of exchanging physical cards between friends in the schoolyard is being left behind. New technologies manage to evolve even the simplest aspects of our life. For instance, one of the main recognised instances is that of NBA Top star NFTS.
NBA Top Shot NFTS and the future of collecting
Have you heard this name before? For those whose answer is no, NBA Top Shot is a platform that allows fans of the world of basketball to buy, sell or exchange videos of the best plays of the sport.
NFT - But what is its appeal? The viewing of these plays is not exclusive; they are available to anyone on platforms such as YouTube, for example. What differentiates NBA Top Shot is that, based on the concept of NFT and relying on the Blockchain as a guarantee of security, they generate numbered versions with an official certificate of videos. They are original, unique. Although you could view and download it on the world web, those interpretations would simply be copies. In this way, when you acquire it, you become the owner of it.
This concept itself changes the norms that we knew. From this moment, the popular bartering cards can be conjoint with cryptocurrency concepts, in turn creating a different and updated vision of the market, and NFT version.
How was this concept born? In mid-2019, the NBA, the NBA Players Association, and Dapper Labs came together to create NBA Top Shot. At the time it was conceived as a revolutionary experience that would change the world of collectibles forever, or so Roham Gharegozlou, Chief Executive Officer of Dapper Labs defined it.
And how does it work? Easy to begin with, the NBA is in charge of choosing the most outstanding plays of each game. Later, Dapper Labs decides which ones will be sold and numbered them. Once this is done, each featured play is placed in digital packages, as is done with traditional trading cards. These collections are sold on the proper NBA Big Shot domain. The cost of the collection is diverse and relies on the standard of the play, the volume of the contender who carried it out, and the exclusivity of the card.
When you have a package in your possession, the plays will be saved in your account or wallet. This has the necessary security so that the plays can be exhibited or resold in the NBA Top Shot Marketplace.
Have you heard this name before? For those whose answer is no, NBA Top Shot is a platform that allows fans of the world of basketball to buy, sell or exchange videos of the best plays of the sport.
NFT - But what is its appeal? The viewing of these plays is not exclusive; they are available to anyone on platforms such as YouTube, for example. What differentiates NBA Top Shot is that, based on the concept of NFT and relying on the Blockchain as a guarantee of security, they generate numbered versions with an official certificate of videos. They are original, unique. Although you could view and download it on the world web, those interpretations would simply be copies. In this way, when you acquire it, you become the owner of it.
This concept itself changes the norms that we knew. From this moment, the popular bartering cards can be conjoint with cryptocurrency concepts, in turn creating a different and updated vision of the market, and NFT version.
How was this concept born? In mid-2019, the NBA, the NBA Players Association, and Dapper Labs came together to create NBA Top Shot. At the time it was conceived as a revolutionary experience that would change the world of collectibles forever, or so Roham Gharegozlou, Chief Executive Officer of Dapper Labs defined it.
And how does it work? Easy to begin with, the NBA is in charge of choosing the most outstanding plays of each game. Later, Dapper Labs decides which ones will be sold and numbered them. Once this is done, each featured play is placed in digital packages, as is done with traditional trading cards. These collections are sold on the proper NBA Big Shot domain. The cost of the collection is diverse and relies on the standard of the play, the volume of the contender who carried it out, and the exclusivity of the card.
When you have a package in your possession, the plays will be saved in your account or wallet. This has the necessary security so that the plays can be exhibited or resold in the NBA Top Shot Marketplace.
Another notable example: Sorare
Sorare is another platform that drinks from this concept, becoming a fantasy football and collectible NFTs company. Sorare's NFT trading card system works with the help of Blockchain technology, based on Ethereum. In addition, it has the support of Ubisoft and agreements with more than 230 football clubs, among which we can highlight names such as Real Madrid, Atlético de Madrid, PSG, or Boca Juniors.
NFTS - According to Nicolas Julia, co-founder of the company, “Sorare is an international fantasy football game that connects fans with their favourite clubs and players. Using NFT cards that can be interchangeable, Sorare has designed an experience where users can manage their players from more than 230 clubs around the world and enjoy their passion while winning prizes. "
Recently, renowned footballers such as Gerard Piqué, Griezmann, or Azpilicueta have come to invest a total of 575 million Euros. In addition, Sorare is valued at more than 3.6 billion Euros. With more than 700,000 users, what do you like so much about this company?
Nicolas Julia affirms: “The truth is that Sorare has had benefits using NFTS from the start, the growth has been incredible for a company as young as we are. The number of registered users has multiplied by 34 between the second quarter of 2020 and Q2 of 2021, and quarterly sales have multiplied by 51 in the same period. That growth, of course also thanks to the impressive team we have managed to assemble, has attracted significant NFT investors to Sorare."
Sorare is another platform that drinks from this concept, becoming a fantasy football and collectible NFTs company. Sorare's NFT trading card system works with the help of Blockchain technology, based on Ethereum. In addition, it has the support of Ubisoft and agreements with more than 230 football clubs, among which we can highlight names such as Real Madrid, Atlético de Madrid, PSG, or Boca Juniors.
NFTS - According to Nicolas Julia, co-founder of the company, “Sorare is an international fantasy football game that connects fans with their favourite clubs and players. Using NFT cards that can be interchangeable, Sorare has designed an experience where users can manage their players from more than 230 clubs around the world and enjoy their passion while winning prizes. "
Recently, renowned footballers such as Gerard Piqué, Griezmann, or Azpilicueta have come to invest a total of 575 million Euros. In addition, Sorare is valued at more than 3.6 billion Euros. With more than 700,000 users, what do you like so much about this company?
Nicolas Julia affirms: “The truth is that Sorare has had benefits using NFTS from the start, the growth has been incredible for a company as young as we are. The number of registered users has multiplied by 34 between the second quarter of 2020 and Q2 of 2021, and quarterly sales have multiplied by 51 in the same period. That growth, of course also thanks to the impressive team we have managed to assemble, has attracted significant NFT investors to Sorare."
His system is simple. A small series of NFT cards are issued every season. Each card is a digital collectible, which in turn is official since it is certified by its corresponding club or league. These NFT cards do not run out and permit the user to arrange free competitions. Each user can participate in an unlimited number of tournaments.
The objective of the game will be to grasp the hold of the NFT cards of the most valuable players. With them, you can create a good fictional squad that takes part in competitions or simply collect. In the case of the tournaments, called SO5 Fantasy in Sorare, they will consist of line-ups of five players whose score will depend on their performance in real life.
Regardless of a user's motive for entering the world of Sorare, what they should also know is that you will be able to make a financial profit. This is because Sorare's digital cards are NFTs from the Ethereum Blockchain. Each NFT is unique, making the user an owner and giving him the opportunity to, for example, sell and revalue them.
“It is vivid that our insight protects the desires and assumptions of our users: we perform at the convergence of the NFT market (with sales of more than 2.5 billion dollars in a year), sports cards (five billion dollars), plus, fantasy sports (with an estimate of $48 billion for 2027). It is, without a doubt, a great market opportunity. ”, Assures Nicolas Julia.
The objective of the game will be to grasp the hold of the NFT cards of the most valuable players. With them, you can create a good fictional squad that takes part in competitions or simply collect. In the case of the tournaments, called SO5 Fantasy in Sorare, they will consist of line-ups of five players whose score will depend on their performance in real life.
Regardless of a user's motive for entering the world of Sorare, what they should also know is that you will be able to make a financial profit. This is because Sorare's digital cards are NFTs from the Ethereum Blockchain. Each NFT is unique, making the user an owner and giving him the opportunity to, for example, sell and revalue them.
“It is vivid that our insight protects the desires and assumptions of our users: we perform at the convergence of the NFT market (with sales of more than 2.5 billion dollars in a year), sports cards (five billion dollars), plus, fantasy sports (with an estimate of $48 billion for 2027). It is, without a doubt, a great market opportunity. ”, Assures Nicolas Julia.
What is NFT Crypto Art?
We have talked about collecting, but we cannot forget the other application of NFTs that leaves no one indifferent: Crypto Art, also known as Digital Crypto Art, we could define this concept as an art form linked to Blockchain technology.
“Crypto Art is just one more way of making art. What makes it different from traditional art is that works of art are mined. In other words, they remain mined on the Blockchain,” says Antonio Gadda, plastic artist, Doctor of Fine Arts, and art disseminator on YouTube.
If we focus on the world and history of art, we have to start by understanding that NFT Crypto Art itself is not a new concept. After all, digital works of art have been around for a long time and are active just like more traditional works of art. NFTS - On the other hand, the cost of works of art has been, is, and will be subjective. There has commonly been a purchase and a trade between those collectors and artists or different people interested in owning a work of art.
The only difference is that with the emergence of cryptocurrencies, the Blockchain and NFTS have expanded the options from which artists can choose, and, as a consequence, they have been encouraged to try them.
We have talked about collecting, but we cannot forget the other application of NFTs that leaves no one indifferent: Crypto Art, also known as Digital Crypto Art, we could define this concept as an art form linked to Blockchain technology.
“Crypto Art is just one more way of making art. What makes it different from traditional art is that works of art are mined. In other words, they remain mined on the Blockchain,” says Antonio Gadda, plastic artist, Doctor of Fine Arts, and art disseminator on YouTube.
If we focus on the world and history of art, we have to start by understanding that NFT Crypto Art itself is not a new concept. After all, digital works of art have been around for a long time and are active just like more traditional works of art. NFTS - On the other hand, the cost of works of art has been, is, and will be subjective. There has commonly been a purchase and a trade between those collectors and artists or different people interested in owning a work of art.
The only difference is that with the emergence of cryptocurrencies, the Blockchain and NFTS have expanded the options from which artists can choose, and, as a consequence, they have been encouraged to try them.
What are these options? The most prominent is perhaps that of security. In principle, works of art are unique elements. They are not supposed to be reproduced, duplicated, or falsified. But a simple superficial review of the history of art will show us that the fact that something should not be done does not mean that it is not done. NFTS - This is where Blockchain technology would come in. The Blockchain system creates a secure and encrypted way to facilitate operations with works of art, NFTS. In this way, for example, counterfeits would be out of the equation.
Antonio Gadda highlights another of the most positive aspects of the use of NFTs: that of being able to give copyright to artists. “It’s an outbreak and rather positive news for artists. Finally, in the antiquity of art, artists can retain ultimate power over their works. And, in addition, on royalties, that is the resale’s of the NFT works. “Plus, it is that the maker will gain a division of the merit for which their NFT designs are purchased thanks to these Copyrights. In addition, another of the benefits that Antonio García Gadda points out is the elimination of intermediaries and the difficulties that the logistical aspect entails.
How does Crypto Artwork? If an artist wishes to join the globe of NFT Crypto Art, they must first become familiar with the virtual NFT world. It will be this, especially the Blockchain, which will encrypt and protect your NFT work, guaranteeing its authenticity and authorship.
Well, what if a person wishes to buy these works? In the event that a potential buyer appears, you can purchase the NFT work from anywhere in the world but it will not be physical work. The buyer will be buying the property, the encrypted authenticity of the NFT work. They can do whatever you wish with it, either sell it or keep it. "When the Metaverse arrives, having ownership of NFT works of art will differentiate us," And, thanks to the Blockchain, you can always know NFTs' origin and verify their authenticity.
How does Crypto Artwork? If an artist wishes to join the globe of NFT Crypto Art, they must first become familiar with the virtual NFT world. It will be this, especially the Blockchain, which will encrypt and protect your NFT work, guaranteeing its authenticity and authorship.
Well, what if a person wishes to buy these works? In the event that a potential buyer appears, you can purchase the NFT work from anywhere in the world but it will not be physical work. The buyer will be buying the property, the encrypted authenticity of the NFT work. They can do whatever you wish with it, either sell it or keep it. "When the Metaverse arrives, having ownership of NFT works of art will differentiate us," And, thanks to the Blockchain, you can always know NFTs' origin and verify their authenticity.
Crypto Art is here to stay, it is a fact. However, in the U.S & UK, the faction committed to this layout is still in its infancy, its expansion is expected to be rapid. NFTS: There are already museums that are committed to this way of creating art by displaying digital NFT works on screens. Is this an indicator of what the future of art will appear? Antonio García Villarán is clear: "The future of art will be a hybrid between traditional and Crypto NFT Art."
Tour of the NFTS in Europe
NFTS: Champions Game emerged in 2015 with a game that was not related to the Blockchain, it was completely free. Later, they launched their first round of financing with Play Ventures, in which they managed to raise close to 1 million Euros. With this investment, they were able to expand the team and began to innovate.
It was at that time that they saw the possibility of creating Blockchain games, as is the case with the football metaverse known as Metassocer. "These games are a mixture of cryptocurrencies and NFT'S," says Marc Cercós CEO of Champions Game, in an interview. They are like the games of a lifetime, the difference is that in these games you can make a profit that is, and the coins you earn in the game are also earned in real life but cryptocurrencies. Metasoccer combines cryptocurrencies with NFT'S, in this case, soccer.
Tour of the NFTS in Europe
NFTS: Champions Game emerged in 2015 with a game that was not related to the Blockchain, it was completely free. Later, they launched their first round of financing with Play Ventures, in which they managed to raise close to 1 million Euros. With this investment, they were able to expand the team and began to innovate.
It was at that time that they saw the possibility of creating Blockchain games, as is the case with the football metaverse known as Metassocer. "These games are a mixture of cryptocurrencies and NFT'S," says Marc Cercós CEO of Champions Game, in an interview. They are like the games of a lifetime, the difference is that in these games you can make a profit that is, and the coins you earn in the game are also earned in real life but cryptocurrencies. Metasoccer combines cryptocurrencies with NFT'S, in this case, soccer.
Users can create and modify football characters to their liking, and with them, they can play all the games they want. But how do users make money? NFTS - Well, it is very simple, as you win games; they give you a reward, which is converted into NFT cryptocurrencies. Once you have gained a superior level, anyone can obtain their NFT football club, and in this way generate their income.
Besides, something that you should note is that in this meta-verse the Metassocer Province, an NFT token created by them, is used as a payment method. Therefore, if you want to buy players on the platform, the first thing you have to do is buy the Metassocer Universe NFT, and then buy the players with that NFT.
Besides, something that you should note is that in this meta-verse the Metassocer Province, an NFT token created by them, is used as a payment method. Therefore, if you want to buy players on the platform, the first thing you have to do is buy the Metassocer Universe NFT, and then buy the players with that NFT.
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