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NFTs explained | What is an NFT? | Beginners guide 甚麼是NFT?- Kelly Cheung 張曦雯 (Eng Sub / 中文字幕)

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Hi every person fantastic to have you here So if you'' ve been following me You ' ve most likely noticed that I'' ve been publishing concerning NFTs a lot on my social networks I even started a Twitter publishing just NFT relevant web content And also if you'' ve been following my YouTube channel you recognize that this is strictly for gaming and also streaming but I'' m mosting likely to pivot a little bit below as well as start telling you people concerning NFTs because so several people have been asking me WTF is an NFT?! So 2021 was the year when NFT got into mainstream media and discussions and also I assume it'' s become sort of like a buzzword but there'' s still a whole lot of complication around what it is and exactly how do they exist and also why can'' t you just right-click conserve'? So I ' m hoping that the upcoming videos that I ' ll be publishing will certainly aid answer several of these concerns together with some suggestions that I'' ve picked up along the road So my trip right into crypto started virtually 5 years earlier when a friend presented me to cryptocurrencies and also I developed my very first wallet and also got my first coins Then around half a year ago I was stuck in quarantine for 21 days coming back from the States as well as our good friends began telling me about NFTs and during that time was when Mark Zuckerberg supplied his keynote and introduced that Facebook was changing its name to Meta as well as my immediate idea was Whoa! It'' s occurring! Like we won'' t have the ability to hide from this alternate digital fact any longer And also I'' ve always thought of that the metaverse will be playing a huge component in our lives in the future Considering that I'' m a gamer as well as virtual reality has really shown me that in addition to pc gaming, just how social interaction can be really different from what we'' re made use of to So besides being actually excited I couldn'' t help however believe that'hi I ' m living in this time where I ' m seeing this growth of new innovations that will actually essentially change the manner in which we interact as well as the way that we trade money and also create ownership as well as that if I started learning as well as diving right into this space right currently Possibly, I can take a part in this excellent change rather than remaining on the sidelines and simply viewing it happen perhaps I can sit at the table So there I remain in quarantine with all the time in the globe and I truly dived in And believe me 6 months ago I was resting precisely where you are I was hesitant I was incredibly baffled and rapid onward to now I have greater than a 100 NFTs What is an NFT? To begin, I think we need to take a look at human behavior We simply like gathering random things whether it'' s tennis shoes handbags, Pokémon cards, stamps, stuffed pets If you'' ve ever gathered or valued something and also cared that you possess it, congratulations I assume you'' re well on your method to understanding what NFTs are But you may state to me alright so these are physical things that we hold So I would comprehend why any person would certainly accumulate them yet why the heck would someone pay $500,000 for jpeg of an ape? Allow'' s discuss it NFT, Non-Fungible Token To specify what non-fungible is let'' s define something that is fungible So something that ' s fungible would be money If you have a $10 bill and also I have a $10 expense we can exchange those bills and everyone would certainly really feel entirely great with that transaction since the value is still $10 Despite the fact that the pieces of documents that were traded were different the worth exchanged were the very same So something that'' s non-fungible Non-fungible is each is special you can'' t just simply exchange one for one more so also if things were the same they have different worth So as an example I have an iPhone 13 and you have an iPhone 13 and also although they look specifically the exact same 硬件亦完全一樣
and also have the very same equipment we can'' t just exchange them since the phone has my …

We can'' t just exchange them because my phone has my personal things in it my pictures, my memories, my notes so although our phones look exactly the exact same I can'' t exchange my one for yours since the worth of both phones are different to me So an NFT can relate to electronic assets that are special and have value they can be anything that'' s digital so it doesn ' t simply need to be a photo or attracting it can be a music clip, a video clip, a paper, or perhaps a tweet So the huge issue with digital items is that for a long time, let'' s state if you have a jpeg as well as you claim hey this jpeg deserves a lot I could simply right-click save that and now I have a pixel best depiction of that digital item and there'' s no difference as well as the jpegs would be specifically the same so why would I ever before pay money for a particular one when I can just right-click conserve? Now, what the blockchain has done this jpeg is the one and only true version of it since that jpeg will consist of an unique recognition code and metadata which is stored on the blockchain very swiftly define what a blockchain is …

It'' s complicated but to specify it simply the blockchain is a decentralized, distributed and public ledger that tapes deals the info saved on the blockchain anybody can see but it can never ever be tempered with so as long as you have that a person jpeg in your purse you are the proprietor so now you recognize exactly how an NFT is non-fungible yet to comprehend why you would intend to get an NFT in the very first place and also the value it holds we need to understand why points have value whatsoever So when it pertains to NFTs We speak about just how much they'' re worth as well as just how much revenue we'' re making from trading them as well as how they can produce wide range however there are many reasons why people purchase a possession physical or digital that isn'' t actually about money whatsoever often it ' s part of your identification or yourself image so you may get a developer bag or you obtain a supercar or invest a great deal of money on a diamond ring or obtain a certain instagram deal with simply due to the fact that those points claim something about who you are as well as the picture that you want to project to the world as well as sometimes you acquire something because it'' s scarce something that ' s perceived as being unusual or limited or one-of-a-kind might appear much more important to you and also one more factor is perhaps due to the fact that you really wish to be a part of a neighborhood we truly love belonging to things and belonging of something as well as sometimes an NFT is a subscription pass or accessibility to a neighborhood that you simply truly wish to be a part of so directly this is a big reason why I sometimes obtain truly emotionally affixed to my NFTs because I'' ve made good friends in the neighborhood as well as I think in what the project is trying to attain So for instance an NFT project that I'' ve bought called BF is concerning helping females as well as non-binary people navigate in crypto and web3 And also this NFT collection is essentially 10,000 similar photos of a bracelet as well as the cost has actually doubled since I acquired in but I locate a great feeling of belonging in this area and also when the NFT overall is so male-centric it suggests a lot to me to belong in an area that'' s produced women by ladies so'it ' s the access to this area that made me buy as well as hold this NFT and also lastly you may similar to the NFT as well as that'' s excellent enough there are a lot of points that I acquire due to the fact that I much like them I can'' t tell you the amount of jpegs I have just due to the fact that I simply enjoy the art and also in some cases points are beneficial just because you value it NFTs are opening up a cosmos of possibilities provided to us by blockchain for musicians, makers and also service technicians to construct something and also not just can musicians market their work for the very first time yet currently they can obtain nobilities for every single sale of their art in the future So in actual life if an artist sell something as soon as it might trade hands a hundred even more times and also the artists might never understand and they'' ll never ever see a cent yet placed something on the blockchain the artist or developer or artist might obtain nobilities for decades which is definitely game transforming for people in the creative sectors so I hope that after enjoying this you recognize a little bit more regarding NFTs or at least you understand my interest for this area A great deal of people are claiming a lot of different aspects of the space we can'' t'constantly recognize what ' s going to occur next However feel in one’s bones that no matter what you hear you need to do your own research do not spend more than you can shed I'' m not right here to urge you to purchase crypto or get NFTs but if you'' d like to start I hope I'' m right here for you so you wear'' t take a lot of wrong steps and it'' s so early it ' s really the wild wild west out there there'' s many scammers so I want you to be really careful available so showing up I'' ll have more videos describing how to choose the right projects and also how to stay safe in the space I'' ll review the terminology used in the area and some fundamentals like exactly how to create a pocketbook so subscribe as well as next time when a person condescendingly comes near you and goes why would certainly any person spend hundreds of bucks on a foolish jpeg you'' ll let them understand what'' s up

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