BuT I caN jUsT ScrEenShoT iT.

Yeh. No.

Why Art and NFTs makes sense.

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1/
2/

Art has existed everywhere since the dawn of time.

The physical Art industry doesn& #39;t need an explanation.

You own the original on canvas. Simple.

Right?
3/

But what if an imposter makes the exact same thing, stroke by stroke, signed, etc.

Does it have the same value?

No.

Because you& #39;re not just buying Art your tieing yourself to the Artist.

In this case, the original.

The original retains majority value.
4/

Just like a fake Nike.

Even if it& #39;s EXACTLY the same thing in terms of utility, look, etc.

It& #39;s a provable fake. (Unless replica is immac).

Still, a fake is a fake is a fake.

So what about Digital Art? What& #39;s the solution here?
5/

Nhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👏" title="Applaus-Zeichen" aria-label="Emoji: Applaus-Zeichen">Fhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👏" title="Applaus-Zeichen" aria-label="Emoji: Applaus-Zeichen">T

Non Fungible Token.

Non Fungible = these tokens aren& #39;t equal and thus can& #39;t be traded on a 1:1 ratio.

Like 1 Bitcoin = 1 Bitcoin. (Fungible)

1 NFT doesn& #39;t equal another NFT.

NFTs represent different assets/items/Art on the Blockchain.
6/

So when you tie an Art gif or Image to an NFT.

You& #39;re tieing the digital piece to a token that represents publicly verifiable ownership.

A receipt of ownership.

Who owns the token owns the Art piece.
This token lives on Blockchain.

Forever.

Time stamped, publicly verifiable, transactions & price history tracked, ownership acknowledged, etc,

You know, the same technology Bitcoin lives on that we& #39;ve all accepted to be worth $10k atm?

Talking to you BTC Maxis.
7/

Just like Bitcoin.

It lives on a public ledger.

If it& #39;s verifiable ONLY ON THIS PUBLIC LEDGER It can be verified to be YOUR Bitcoin.

Would it be the same if you copy pasted a wallets content to an excel spreadsheet?

Does that Bitcoin amount become yours?

No.
8/

So when you screenshot an art piece you& #39;ve given it the same utility.

Yeh it looks pretty,

But 0 value.

Coz it& #39;s not tied to the artist.

Publicly NOT verifiable.

I mean, isn& #39;t this what Blockchain is all about?

To store and track value, ownership and history?
9/ You might not accept it,

But 1,000& #39;s of early adopters do.

And 100& #39;s of $millions have been transacted in this industry.

This is just Art.

One of ample use cases of NFTs.
10/ Ofcourse we have a lot of work to do.

We& #39;re not 100% there yet.

But the tech is moving fast.

And problems are being solved daily.
11/ We don& #39;t need validation from broader crypto.

But in an absolute bear market where most crypto portfolios were down 90%+.

People were 10xing their NFT portfolio net worth.

What does that tell you about where true value is being created?
A further more in-depth and less frustrated driven thread by @DCCockFoster https://twitter.com/DCCockFoster/status/1278449517311012869?s=19">https://twitter.com/DCCockFos...
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