how-does-a-nft-work

[how-does-a-nft-work]

[how-does-a-nft-work]

How Does an NFT Work?

NFTs exist on a blockchain, which is a distributed public ledger that records transactions. You’re probably most familiar with blockchain as the underlying process that makes cryptocurrencies possible.

Specifically, NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.

An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:

Graphic art traditional category of fine arts, including any form of visual artistic expression (e.g., painting, drawing, photography, printmaking), usually produced on flat surfaces. Design in the graphic arts often includes typography but also encompasses original drawings, plans, and patterns for the decorative arts

Graphics Interchange Format (GIF) is a bitmap image format that was developed by a team at the online services provider CompuServe led by American computer scientist Steve Wilhite and released on 15 June 1987.[1] It has since come into widespread usage on the World Wide Web due to its wide support and portability between applications and operating systems.

The format supports up to 8 bits per pixel for each image, allowing a single image to reference its own palette of up to 256 different colors chosen from the 24-bit RGB color space. It also supports animations and allows a separate palette of up to 256 colors for each frame. These palette limitations make GIF less suitable for reproducing color photographs and other images with color gradients, but well-suited for simpler images such as graphics or logos with solid areas of color.

House of Highlights is a sports media brand that focuses on the creation and aggregation of viral video clips and original video series for a predominantly Gen-Z audience. HoH is headquartered in New York City within Bleacher Report’s office. Known primarily for popular highlights in the world of sports, HoH has positioned itself as a distributor in the sport media industry as described by Ben Golliver of the Washington Post. In 2019, the NBA experienced rapid growth in social media viewership that has directly benefitted House of Highlights with the rise of mobile viewing and the excitement towards short, entertaining highlights and other content that House of Highlights is known to provide.

Since being acquired by Bleacher Report in December 2016, House of Highlights has expanded into a multi-platform media business with over 24 million followers across Instagram, YouTube, and TikTok. According to Bleacher Report, House of Highlights accounted for 10% of Bleacher Report’s total revenue as of June 2019.

A collectable is an item made specifically for people to collect. Examples of items commonly sold as collectables include plates, figurines, bells, graphics, steins, and dolls. Some companies that produce manufactured collectables are members of The Gift and Collectibles Guild.

Special editions, limited editions and variants on these terms fall under the category of manufactured collectables and are used as a marketing incentive for various types of products. They were originally applied to products related to the arts—such as books, prints or recorded music and films—but are now used for cars, fine wine and many other collectables. A special edition typically includes extra material of some kind. A limited edition is restricted in the number of copies produced, although the number may be arbitrarily high.

Avatar is a graphical representation of a user or the user's character or persona. Avatars can be two-dimensional icons in Internet forums and other online communities, where they are also known as profile pictures, user Pics, or formerly personal icons. Alternatively, an avatar can take the form of a three-dimensional model, as used in online worlds and video games.

Avatar originates from Sanskrit, and was adopted by early computer games and science fiction novelists. Richard Garriott extended the term to an on-screen user representation in 1985, and the term gained wider adoption in Internet forums and MUDs. Nowadays, avatars are used in a variety of online settings including social media, virtual assistants, instant messaging platforms, and digital worlds such as World of Warcraft and Second Life. They can take the form of an image of one's real-life self, as often seen on platforms like Facebook, or a virtual character that diverges from the real world. Often, these are customized to show support for different causes, or to create a unique online representation.

Academic research has focused on how avatars can influence the outcomes of communication and digital identity. Users can employ avatars with fictional characteristics to gain social acceptance or ease social interaction. However, studies have found that the majority of users choose avatars that resemble their real-world selves.

Designer Sneakers are shoes primarily designed for sports or other forms of physical exercise, but which are now also widely used for everyday casual wear.

Since their popularization by companies such as Converse, Nike and Spalding in the mid 20th century, they have become attire, with variety growing in many global markets exponentially. Like other parts of the global clothing industry, manufacture of shoes is heavily concentrated in Asia with nine in ten shoes produced in that region.

Contemporary sneakers are largely made from synthetic materials, and the materials and manufacturing process produce, on average, about 14 kg (31 lb) of CO2 emissions.Some companies are trying to substitute more sustainable materials in their manufacture. About 90% of shoes end up in landfills at end of life

Music is the art of arranging sounds in time through the elements of melody, harmony, rhythm, and timbre. It is one of the universal cultural aspects of all human societies. General definitions of music include common elements such as pitch (which governs melody and harmony), rhythm (and its associated concepts tempo, meter, and articulation), dynamics (loudness and softness), and the sonic qualities of timbre and texture (which are sometimes termed the "color" of a musical sound). Different styles or types of music may emphasize, de-emphasize or omit some of these elements. Music is performed with a vast range of instruments and vocal techniques ranging from singing to rapping; there are solely instrumental pieces, solely vocal pieces (such as songs without instrumental accompaniment) and pieces that combine singing and instruments. The word derives from Greek μουσική, mousiké, '(art) of the Muses.

Even tweets count. Twitter co-founder Jack Dorsey sold his first ever tweet as an NFT for more than $2.9 million.

Essentially, NFTs are like physical collector’s items, only digital. So instead of getting an actual oil painting to hang on the wall, the buyer gets a digital file instead.

They also get exclusive ownership rights. NFTs can have only one owner at a time, and their use of blockchain technology makes it easy to verify ownership and transfer tokens between owners. The creator can also store specific information in an NFT’s metadata. For instance, artists can sign their artwork by including their signature in the file.