Updated: 6 days ago
“It is bad for society that it’s easier to invest millions of dollars into an NFT than a startup.” - Sam Altman
Since the start of 2021, we are continuously bombarded with the crypto news and newly established terms. One of them is NFT and everyone talks about NFT.
NFT is a Non-Fungible Token – A unique token which cannot be replicated in a given blockchain network.
But what is the benefit of knowing NFT? For that we need to understand Fungible Token. We all know it 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 it’s 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 or collectible asset that's why Rarity plays a vital role in NFT.
So, we learned from this is every unique item is in fact NFT. Similarly, an extraordinary human is also an NFT separate from those who look for designations or titles.
"Every human on this earth is NFT, the more he diversifies, the more he becomes rare and valuable." - My Personal View
In this world, Human NFT has many Properties (Religion, Ethnicity, Nationality, Knowledge, Skill, Physical etc.) based on which his value is determined by the society.
“Be yourself; everyone else is already taken.” - Anonymous
“Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” - Rumi
In my view, the rarest and most expensive Human NFT in our time is “Elon Musk”. We all seen him as the richest person in the world now.
“You get paid in direct proportion to the difficulty of problems you solve” - Elon Musk
Thanks for reading...
Found this post useful!!! Subscribe for free to join the community of curious subscribers to get update on the best curated posts from the internet.