Jono Shields

Why I stopped making NFTs

What is an NFT?

Skip to Why if you already know

Non Fungible Token. A token (small piece of data) that can't be changed. This achieved using blockchain technology. Most NFT's are made using smart contracts on the Ethereum (a cryptocurrency) network.

This datum is replicated along with a public key across thousands of computers around the world. They all agree that the person who owns the public key also owns the data. This replication proves irrefutably the ownership of this tiny pieces of information.

This information is available for all to see. The data itself however is usually something fairly insignificant, usually a URL or a hash of a larger file. This is because ethereum (and other cryptocurrencies) are built to be a transaction ledger, not a store of information.

These links or hashes normally pair to an image, video or other piece of media.

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