[Ads-l] Non-fungible token NFT

Barretts Mail mail.barretts at GMAIL.COM
Wed Mar 3 21:44:26 UTC 2021

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

The American Dialect Society - http://www.americandialect.org

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