The NFTs Wey Dey Today — How The Internet Computer Dey Change The Design Of NFTs
“E no easy to understand the type of value wey Non-fungible tokens get, the main reason na because they fit give the owner plenty different type of right to digital and physical things…” — NFTs & the SEC: Statement on Impact Theory, LLC
Wetin dey up na one new statement wey the SEC give for August 28, 2023, the SEC na one organization wey dey handle money matter for the United States. We fit learn from this kind statement say even as NFTs dey popular for where web3 dey, e still never dey clear how them view-am for technology and business matter.
To fit understand wetin NFTs be, and some fine ways wey them don use NFTs wey we fit only see for the Internet Computer blockchain, we go talk about this topic for this article.
Wetin be NFT?
NFT, wey we fit write for full as Non-fungible token, na special computer token wey dey show say person get something or proof to verify something (e.g. art, music, videos, and things like this) wey them store for the blockchain.
One main thing wey dey different wey we need to know about NFTs be say, e no be like other cryptocurrency like Bitcoin or Ethereum wey dey fungible (or wey no get only one type) and wey person fit exchange. Them design NFTs make e dey special (different from others). Another way we fit talk am be say, we fit talk say NFTs just be like painting wey we fit see wey get special properties.
In short, them fit use the NFTs wey dey today for plenty ways, make we talk about four (4) ways wey them fit use them for under:
1. Digital Ownership
NFTs dey verify something, as e dey allow people wey dey create things to gain money from their work and other blockchain collectors to really get access to their asset wey dey the blockchain.
2. Provenance and Scarcity
NFTs get permanent record of asset history, like when dey create am and when dey transfer the ownership, this one come make-am no too dey common and e no dey fake.
3. E Dey Help Creators
NFTs fit help artist, musician, and creators reach plenty people around the world and collect good amount of money without person to stand as link during the transaction.
4. E Dey Bring New Experiences
NFTs dey change big-big company them, from game wey them dey play to online house designs, as e dey bring new experience and better way to manage things.
Now make we shift our mind go how the Internet Computer blockchain dey change the design of NFTs.
How NFTs Design Be For The Internet Computer Blockchain
Make we talk about four (4) ways we fit use NFTs for the Internet Computer today.
1. Storage
The design wey the Internet Computer get dey make sure say they store all the part of NFT for the IC blockchain. As them store all the part of NFT e mean say both the code and file, (pictures, video, music, and things like that) no store for centralize cloud service like Google Cloud, or AWS, but them store them direct on top the blockchain.
To fit understand the special way the Internet Computer dey do things, see one statement wey dey the privacy policy page (Wey them last update, April, 4th, 2023) of Open Sea, wey be popular place wey them dey sell NFT.
As them dey talk about the information of users wey them dey give out to other people, the policy talk say,
“We fit share your information and information wey dey about you with other service provider to: to provide technical design for you…”
From this statement we fit see say, them dey store some type of user and NFT information and them dey use am for the server of some centralize companies.
2. Computer Drawings and Collectibles
Artist fit tokenize (or compress) their work to NFTs to protect am for inside the Internet Computer, to prove say no be fake, and to show say na them get am. One good example na the Yumi NFT marketplace, wey dey allow users to fit buy NFT with zero gas fee. Another example na NFT Studio wey dey allow creators to mint 3D (3 dimension) NFTs wey dey store for the ICP blockchain.
3. Music and things to use to enjoy yourself
For the Internet Computer, musicians and people wey dey create content fit sell NFT for their special songs or to get special experience. One fine example na the Portal decentralized application wey them create for the Internet Computer.
4. Social media
Them fit move NFT wey dey the Internet Computer (IC) enter social media platform. For example, for DSCVR, one decentralize social media platform wey them create for the IC, for here people wey create group fit no allow people enter the group unless people wey get one special NFT fit enter the group chat.
Finally
For this article, we don talk about how NFTs don make am dey possible to keep something for the internet, get hand-work to create things, and join work together. Information wey we don gather don show say NFTs wey dey the Internet Computer dey help make am easy to access special things wey get value for computer, e dey support creators, and e still dey help improve the computer world. You go like get your own NFT? Create Internet Identity here to get one for free.
This story never finish. For our next article for our story, we go talk about how the Internet Computer blockchain design dey help reduce pollution for the world. Until next time, thank you as you read am, feel free to comment.
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Notice: The things wey we write for here na only for educational purpose, na the idea of the person wey write am dey inside and e no dey give any business advice. If you read this article finish, we go advice you make you do more research and you fit no agree with the idea of the person wey write am if you want. Thank you.
