There are two types of people: those who embrace emerging technologies and explore them to their fullest and those of us who cower in a dark corner, clinging to the past. And if you fall into the latter category, then this whole NFT thing may well have been your breaking point.
But the threshold between caring and not caring is one of self-interest. And if porn is your jam, then it’s time to get on top of this latest development in data and content. So what is a non-fungible token? Art? A storage unit? Some kind of hybrid mushroom?
The Verge does a great breakdown, and it goes a little something like this: Non-fungible refers to something that is completely unique—Van Gogh’s Starry Night is non-fungible; a Toyota Camry is not. If you trade one non-fungible item for another, you have given up one unique item for another, something one-of-a-kind. This is part of the cryptocurrency universe. Suffice it to say, most NFTs are part of what’s called the Ethereum blockchain. NFTs store extra information that differentiates them from bitcoin; so while bitcoin transactions are primarily monetary, Ethereum transactions may be executable code.
