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Non-Fungible Token have a chance to dominate the exchange of value between creators and consumers. Already today, NFT are used in the sale of works of art and entertainment. But software developers, for example, are also starting to use them more and more. The phenomenon we are dealing with today, i.e. NFT tokens - and which arouses a lot of emotions, wonders many of us - is nothing new in principle. Only the form and the economy behind this phenomenon are new.
Uniqueness and authenticity invariably have value In 1237, the King of France, Louis IX, announced that he had become the owner of the crown of thorns of the crucified Jesus Christ. It was the first appearance of this important relic since the Emperor of Constantinople Baldwin II pledged it with the Venetians suffering from a lack of funds. The relic, weighing several grams, was purchased by Ludwik IX for 137,000 Livres, or approx. 5.5 tons of silver! At that time, it was an astronomical amount. Non-Fungible Token as a successor to certificates of authenticity ... In order to explain in the simplest way what NFT is, one should use an example that has existed for decades. In the 1960s and 1970s, artists such as Salvador Dali as well as Picasso's heirs came up with the idea to create authorized copies of their artwork. Simply put, they created a certain number of graphics (exactly the same), giving them consecutive numbers and attaching a certificate of authenticity to them. Usually located on the back of the artwork. The price of such graphics depended, of course, on the number and the total number of graphics. NFT and the Metaverse? Luxury brand owners, software developers and artists are fighting piracy. Of course, piracy does not only have a negative effect on the market, as brand owners are well aware of. Using counterfeit goods is associated with experiencing worse experiences (materials are not so good quality) or various types of restrictions and problems when using illegal software. Full story here
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