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In today's episode, we talk about NFTs or Non-Fungible Tokens. And if you haven't noticed the pattern here yet, I upload crypto related content every Wednesday for 3 straight weeks now. I think I'll follow this format for the weeks to come (as long as I have some crypto content up my sleeves).
\\nAnyway, NFT is a very interesting topic in the crypto world and is gaining popularity fast this past year. I guess staying at home because of the pandemic triggered this as well since it's a bit hard to go to an actual physical art exhibit or art auction when there's a pandemic going on. NFT marketplaces became a safe haven for artists as well who haven't been noticed before. And of course, what powers or where are NFTs stored? You guessed it, a blockchain. The second biggest cryptocurrency (market cap-wise) powers NFTs in the Ethereum network. There are also a couple of new low market cap projects that focuses on NFTs but I haven't researched about them yet if they utilize Ethereum or if they have their own standalone blockchains.
\\nAfter watching or listening to this episode, I hope that you have gotten a general idea of what NFTs are and their potential use cases or application in our society or communities moving forward. I know it's currently big on digital art and assets but I truly believe that it has a broader scope of use cases once more people try to understand and expose themselves to it.
\\nConnect with me @emmanpsph on all socials (Facebook, Instagram, Twitter and TikTok)
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