NFT’s and Picasso’s Paintings
Have you heard of NFTs?
No, they’re not some complicated cryptocurrency jargon that only tech-savvy individuals can understand. NFTs, or Non-Fungible Tokens, are digital tokens that are today changing the game for artists, gamers, and collectors alike.
How do they do it?
Let’s break it down in simple terms. An NFT is a digital “token” that links to a piece of unique “data” such as digital art, videos, images, and even tweets. The thing that makes NFTs so valuble and special is that each token has a unique identifier, proving its authenticity and rarity. Think of it like a certificate of authenticity for a physical piece of art, but in the digital world.
🎨 Picasso’s Paintings
Suppose Picasso intended to assemble a compilation of 100 of his sketches for sale. Each sketch is one-of-a-kind, evident from its physical manifestation as a pencil drawing. Hence, it’s evident that Picasso didn’t produce multiple copies.
Additionally, the sketches bear Picasso’s signature, attesting to his authorship, and can be purchased as an original piece from the gallery where they might be stored now. Although you need to have faith in the gallery’s certificate for the long haul, the process is pretty straightforward and simple.
👨💻 Picasso’s NFTs
Now, imagine if Picasso wanted to create a collection of 100 of his sketches as digital drawings, saved as JPEG files. To do this, Picasso would develop a “smart contract” that would serve as the code responsible for running all the logic of his NFT collection.
Each painting would be given a unique identifier, and when ready, Picasso would launch it on the public blockchain for everyone to see. Each sketch would receive a unique identifier, such as Sketch #1, Sketch #2, Sketch #3, and so on.
When ready to launch his NFT collection, Picasso would use his own Ethereum wallet to “sign” the collection and make it publicly available on the blockchain for everyone to see. Then, whenever Picasso wants to sell one of the NFTs, he can easily transfer it to the buyer’s public wallet address.
When someone purchases an NFT, they can prove its authenticity and uniqueness because each NFT has a unique identifier that comes from the person who originally created the collection. Plus, the NFT would show that it came from a smart contract signed by the artist themselves.
The buyer of the NFT would receive an original, one-of-a-kind piece of art from Picasso himself, and they would have proof of its authenticity!
🧾 What’s the Proof?
The buyer of an NFT from Picasso’s collection can now proudly display the bought Picasso NFT as a unique and valuable piece of art, as it is signed by Picasso himself through a smart contract.
- Picasso’s public wallet address serves as proof of the NFT’s authenticity, and the unique identifier assigned to each NFT from the collection ensures that the buyer knows they are receiving an original Picasso sketch.
It’s important to note that Picasso used his public address to sign the NFT collection, and it’s common practice for artists to publicly announce their wallet address to prevent imposters from masquerading as them.
2. Each NFT from Picasso’s collection is distinguishable as a unique Picasso sketch through its individual identifier, such as Sketch #1, Sketch #2, Sketch #3, and so on. These identifiers are assigned by the creator of the collection, making it easy for the buyer to verify the authenticity of their purchase.
This concept of making any file unique and valuable through NFTs is a game-changer, and it’s no wonder that it’s making waves in art, gaming, and beyond. Twitter is abuzz with NFT talk, and it’s only the beginning.
DO THIS OR I WILL BE SAD 🥺
If you’re still a bit confused, don’t worry. The concept may take some time to fully grasp. But with NFTs already shifting the way we value art and more, it’s worth delving deeper into this exciting new world.
If you have any questions, head over to the comment section and I know there will be some people to share their understanding and ideas with you including me.Who knows, you might just discover the next big thing in the world of NFTs.
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