NFT — Most favourite term in Crypto
“It is bad for society that it’s easier to invest millions of dollars into an NFT than a startup.” — Sam Altman
In the modern era, we are continuously bombarded with the crypto news and their jargons almost every day. One of the most popular in them is NFT after the so called BTC and ETH. Everyone talks about NFT.
So, what is NFT? Technically: Its NFT is a Non-Fungible Token — A unique token i.e. cannot be replicated. Its a different kind of protocol in blockchain.
But why we need to know NFT, we need to understand what FT is i.e. Fungible Token. Amazingly we all know them since years before this term NFT coined in Digital Surface. Bitcoin, Dollar, Degrees, Traits and Roles all are Fungible Tokens. Same token and exchangeable with the same value.
Let’s take this example
1 USD with Mr. A is equals to 1 USD with Mr. B (they can interchange it as its a common commodity)
But if 1 USD with Mr. A was every signed by US president Abraham Lincoln immediately its value increased from its intrinsic value and it will become a rare commodity. that’s why Rarity plays a vital role in NFT.
So, what we learned from this each and every unique things is an NFT. Even extraordinary human is an NFT separate from those who look for designations or titles. This is my personal view:
“Every human on this earth is NFT, the more he diversifies, the more he becomes rare and valuable.”
In the Universe (Physical Verse), Human NFT has many Properties (Religion, Ethnicity, Nationality, Knowledge, Skill, Physical etc.) based on which his value is determined by the society (Market). The more he diversified the more he is valuable.
“Be yourself; everyone else is already taken.” — Oscar Wilde
“Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” — Rumi
So, the rarest and most expensive Human NFT in our time is “Elon Musk”.
“You get paid in direct proportion to the difficulty of problems you solve” — Elon Musk
This should be the lifelong vision.
Thanks for reading.
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