NFT Art and Cryptography

You must be wondering what the buzz about non-fungible tokens (NFTs) is all about.  I recommend this (and all other) explainer videos from Crypto Whiteboard.

As you learned in the video, some NFTs have sold for A LOT of money and that is getting some people very excited.  It is based on blockchain technology that is used with digital assets like Bitcoin and other cryptocurrencies.  As a result, there can be many scams and people trying to make money quick.  Although NFTs can be bought and sold, they are not cryptocurrencies like bitcoin.

NFTs are great for collectibles!  I think NFTs are also cool for the math that's involved and how they can be used by artists and other content creators (especially when they only create digital works) to engage with others and earn money in ways that are not possible with existing methods.  Stay tuned for my future post about royalties.

Finally, I want to highlight what makes blockchain (and by extension cryptocurrencies and NFTs) possible... MATH!  It is the same math that makes it possible to send information securely over the Internet to access your Internet bank, purchase things online or to protect your password and identity.  Cryptography!