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Non-fungible token: Difference between revisions
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{{a|g|[[File:Morons.jpg|450px|thumb|center|I mean, it couldn’t really ''be'' any more meta, could it?]]}}{{quote|'' | {{a|g|[[File:Morons.jpg|450px|thumb|center|I mean, it couldn’t really ''be'' any more meta, could it?]]}}{{quote|''New York, 8 March 2021. “[[Morons]],” a “tokenized” artwork by Banksy, has sold for over $394,000 on the Open Sea NFT marketplace. The piece — burned by an unnamed group of cryptocurrency enthusiasts last week — was sold at an auction for 228.69 ethers (CRYPTO: ETH), which at press time traded at $1724.'' | ||
:—''JC NEWSWIRE''}} | |||
{{d|Non-fungible token|/nɒn/-/fʌnʤəbl/ /ˈtəʊkən/|n|}}<br> | {{d|Non-fungible token|/nɒn/-/fʌnʤəbl/ /ˈtəʊkən/|n|}}<br> | ||
A unique reference to an external thing — for example, a Banksy artwork — that has been cryptographically encoded on a [[blockchain]]. The “NFT” does ''not'', in itself, confer ownership on thing it represents, but — and unlike any of the millions of other copies and images of the work online — it is a ''unique'' token of your non-actual ownership — there is no other token of non-ownership quite like it (hence, “non-[[fungible]]”) and given its unique status on the [[bollockchain]], no theoretical possibility another one that could be created. So this token somehow magically bootstraps itself to intrinsic value. | A unique reference to an external thing — for example, a Banksy artwork — that has been cryptographically encoded on a [[blockchain]]. The “NFT” does ''not'', in itself, confer ownership on thing it represents, but — and unlike any of the millions of other copies and images of the work online — it is a ''unique'' token of your non-actual ownership — there is no other token of non-ownership quite like it (hence, “non-[[fungible]]”) and given its unique status on the [[bollockchain]], no theoretical possibility another one that could be created. So this token somehow magically bootstraps itself to intrinsic value. | ||