To the uninitiated, crypto may seem complex and difficult to understand, whereas, an NFT is a limited-edition digital asset that is unique and offers a sense of community to holders, one that creators, collectors, curators, traditional institutions, and culture custodians in Nigeria should take advantage of.
“It’s a bubble.”
“These normies are wild.”
“I can’t wait for this bubble to burst.”
Well, all bubbles burst and companies or projects survive bubbles. If NFTs, like crypto, will be the future then we should embrace it. NOW.
What about NFTs, really?
NFTs means Non-Fungible Tokens.
But you are probably wondering – what is a token? I would wonder too. A crypto token or token is a smart contract that could represent anything from tangible objects such as your diamond bracelet and real estate to intangible objects as well. Tokens can be fungible or non-fungible. Tokens regarded as fungible are tradeable assets, such as your dogecoin, built on an existing blockchain like Ethereum – the most popular token platform. Fungible tokens, such as ERC-20 and BEP-20 tokens on Ethereum and Bitcoin respectively, can be traded in parts i.e. you can trade 1 bitcoin for another bitcoin or 100,000,000 satoshis (units of bitcoin) and you will have the exact value.
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