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2023 4 Star Safety - Jayden Bonsu, NJ - Committing 08/14 @ 4pm

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Rellyrell said:
Maaaaaaaaaaaaaaaaaan, ¿que dijo?
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I’ll simplify it the best I can:

If you wanted to buy or sell a piece of artwork or music online without using cash which is fungible, you could sell it with Bitcoin or ETH.

Now, how do you know what you’re buying is real? Because there’s a digital signature of this particular asset that is only specific to the seller/buyer that cannot be replicated; it’s like an insignia & within this insignia is the verification that what you’re buying/selling is 100% yours. That’s a NFT.

So as a way to maintain the value of the asset without it being devalued by the exchange you use a NFT as a placeholder for the currency value of the asset. Meaning, you use a Non-Fungible Token to either buy or purchase the product with Bitcoin & can continue to benefit on the value of the asset after the sell or purchase because you didn’t exchange it for a fungible token a.k.a cash.

Paintings & music lose their value once they’re bought & sold, the way to keep & increase the value of it is to sell it or buy it without using an fungible exchange; so if someone buys a Million dollar Da Vinci painting it’s not worth that anymore & can’t be resold at a higher price, but if someone buys a Digital piece from Banksy it can be resold at a higher price because it didn’t lose it’s value because it wasn’t exchanged for cash or credit, but rather a digital cryptocurrency with an NFT.

It’s just a way to sell & buy art, music, videos & other digital assets online without it losing it’s value & knowing that it isn’t a forgery.
 
Liberty City El said:
I’ll simplify it the best I can:

If you wanted to buy or sell a piece of artwork or music online without using cash which is fungible, you could sell it with Bitcoin or ETH.

Now, how do you know what you’re buying is real? Because there’s a digital signature of this particular asset that is only specific to the seller/buyer that cannot be replicated; it’s like an insignia & within this insignia is the verification that what you’re buying/selling is 100% yours. That’s a NFT.

So as a way to maintain the value of the asset without it being devalued by the exchange you use a NFT as a placeholder for the currency value of the asset. Meaning, you use a Non-Fungible Token to either buy or purchase the product with Bitcoin & can continue to benefit on the value of the asset after the sell or purchase because you didn’t exchange it for a fungible token a.k.a cash.

Paintings & music lose their value once they’re bought & sold, the way to keep & increase the value of it is to sell it or buy it without using an fungible exchange; so if someone buys a Million dollar Da Vinci painting it’s not worth that anymore & can’t be resold at a higher price, but if someone buys a Digital piece from Banksy it can be resold at a higher price because it didn’t lose it’s value because it wasn’t exchanged for cash or credit, but rather a digital cryptocurrency with an NFT.

It’s just a way to sell & buy art, music, videos & other digital assets online without it losing it’s value & knowing that it isn’t a forgery.
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OK, now that makes sense. That’s the reason y Nike is suing Stock X for using their images for profit w/o their authorization.
 
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Liberty City El said:
I’ll simplify it the best I can:

If you wanted to buy or sell a piece of artwork or music online without using cash which is fungible, you could sell it with Bitcoin or ETH.

Now, how do you know what you’re buying is real? Because there’s a digital signature of this particular asset that is only specific to the seller/buyer that cannot be replicated; it’s like an insignia & within this insignia is the verification that what you’re buying/selling is 100% yours. That’s a NFT.

So as a way to maintain the value of the asset without it being devalued by the exchange you use a NFT as a placeholder for the currency value of the asset. Meaning, you use a Non-Fungible Token to either buy or purchase the product with Bitcoin & can continue to benefit on the value of the asset after the sell or purchase because you didn’t exchange it for a fungible token a.k.a cash.

Paintings & music lose their value once they’re bought & sold, the way to keep & increase the value of it is to sell it or buy it without using an fungible exchange; so if someone buys a Million dollar Da Vinci painting it’s not worth that anymore & can’t be resold at a higher price, but if someone buys a Digital piece from Banksy it can be resold at a higher price because it didn’t lose it’s value because it wasn’t exchanged for cash or credit, but rather a digital cryptocurrency with an NFT.

It’s just a way to sell & buy art, music, videos & other digital assets online without it losing it’s value & knowing that it isn’t a forgery.
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Good ****

The first post I responded to because it was a copy/paste explanation I’ve seen about a million times

I edited it though after reading this
 
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Liberty City El said:
A NFT is a Non-Fungible-Token that has a specific digital signature or another form of certifiable marking that distinguishes that particular piece of art as a form of non duplicated unexchangeable asset.

It creates a digital blockchain for specific forms of artwork or music that allows you to buy & sell assets with exclusivity from the certified artist. Or in other words, it’s like a digital patent that allows you to buy & sell art knowing that it’s authentic coming from the original source & not pirated or forged.

It’s way to sell Art through Blockchain & Bitcoin without being scammed.
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…yes, and also completely valueless in reality. That’s why the “value” of all these NFTs are dropping like 90% in the current economy

But also it’s easy to get scanned still. Didn’t hella people make bored ape **** that wasn’t from the original company doing that? So not scammed in one sense,but still definitely scammed
 
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1murhurricane said:
I tried to tell everyone after last weekend. It's laughable what we are about to do in July. It might be the most epic recruiting month for any team ever...
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nwo-hulk-hogan.gif
 
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