[Ads-l] Non-fungible token NFT

[Barretts Mail]

Nice find.

I hadn’t heard of these, but they seem to be big. Here’s a little more from the article:

###
YellowHeart is minting 18 unique-looking “golden tickets” as part of the Kings of Leon NFT release…. 

 "Each 'golden ticket' also unlocks an actual concert ticket….” 
###

 My reading of this is that certain coins have special associated features that other coins do not, making them non-fungible. 

See also https://en.wikipedia.org/wiki/Non-fungible_token <https://en.wikipedia.org/wiki/Non-fungible_token>

Benjamin Barrett (he/his/him)
Formerly of Seattle, WA

> On 3 Mar 2021, at 13:13, ADSGarson O'Toole <adsgarsonotoole at GMAIL.COM> wrote:
> 
> NFT is one of the latest linguistic oddities (from my perspective). A
> better name is needed and a better explanation.
> 
> Date: March 3, 2021
> Website: Rolling Stone
> Article Title: Kings of Leon Will Be the First Band to Release an
> Album as an NFT
> Article Subtitle: The band’s revolutionary tokens will unlock special
> perks like limited-edition vinyl and front row seats to future
> concerts
> Author: Samantha Hissong
> 
> https://www.rollingstone.com/pro/news/kings-of-leon-when-you-see-yourself-album-nft-crypto-1135192/
> 
> [Begin excerpt]
> On Friday, Kings of Leon will release their new album, titled When You
> See Yourself, in the form of a non-fungible token (NFT) — becoming the
> first band to ever do so.
> 
> The band is actually dropping three types of tokens as part of a
> series called “NFT Yourself,” people involved in the project tells
> Rolling Stone. One type is a special album package, while a second
> type offers live show perks like front-row seats for life, and a third
> type is just for exclusive audiovisual art. All three types of tokens
> offer art designed by the band’s longtime creative partner Night After
> Night; the smart contracts and intelligence within the tokens were
> developed by YellowHeart, a company that wants to use blockchain
> technology to bring value back to music and better direct-to-fan
> relationships.
> 
> A quick rundown: NFTs are a type of cryptocurrency, but instead of
> holding money, they can hold assets like art, tickets, and music. NFTs
> operate on a blockchain, which is a publicly accessible and
> transparent network — meaning anyone can see the details of any NFT
> transaction. Computers involved in the transactions become part of the
> network, which keeps updating and can’t be hacked due its nature as
> many-headed hydra. In the case of NFTs, their value becomes subjective
> and therefore fluctuates, kind of like stocks. (To learn more about
> the subject, read Rolling Stone‘s guide to crypto in music.)
> [End excerpt]
> 
> Garson


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