NFTs sind „Non-Fungible Tokens

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NFTs sind „Non-Fungible Tokens

NFTs sind „Non-Fungible Tokens

Rocco is an art collector andbought a painting online.Soraya bought a rare item for a video game.Both purchases are 100% digitaland yet the items are unique!How it works?Take a little bit of blockchainand a pinch of real or digital assets,throw it all into the blenderand out come:NFTs!To understand NFTs, it helpsto know roughly what the blockchain is.  So let’s start with that first.The blockchain is a type of databasethat consists of individual“sub-databases”called blocks strung together like pearls on a chain.They contain the actualdata to be storedand a value thatcan be used to clearly identify it– the so-called “hash value”.Each of the blocks not only knowsits own hash valuebut also that of its predecessorand successor.If something is changedor replaced here,the value no longer matches the dataand the chain would become unusable!And it is precisely this protection againstmanipulation that NFTs use!They make thisclear in their name:“NFT” stands for“Non-Fungible Tokens”.These tokens stored in the blockchainare linked to a very specific,real or digital item of value.An NFT is therefore a kind of certificate of ownershipof the itemand NOT the item itself!And this means that NFTscan be used in very different areas.For example,important documents such asID cards or medical records could also be stored in aforgery-proof manner using NFTs.They are particularly popularin the trade ofdigital items with collector value.These include, for example,equipment in games,playing cards or art.The creators of these digital itemslimit the number availableand upload them to specialsales platforms.Here they end up on their ownblockchain and aretraded in cryptocurrency.Buyers of the works haveproof of ownership via the NFT.The prices for such collectiblescan vary greatly -from a few eurosto several million.And why are NFTsso popular right now?While collecting and trading is at the forefrontof digital art buyers,video game NFTs promise benefitsthrough limited-editionequipment.But it’s not all rosy:Since the objective value of NFTsis difficult to determine,they are well suited for money laundering.And the CO2 pollutioncannot be neglected either:the transactionshave to be verified usingcomplex computing tasks,for which powerful computersrequire a lot of energy.How the trend aroundNFTs developsremains to be seen.Soraya and Roccoare definitely happywith their new collectibles.

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