Image: Kevin Cooley
Cross-posted from petapixel.com
[by Peter Molick]
Ahh, NFTs… where do we even begin? What on earth is an NFT and why does that guy at the coffee shop with an ape on his sweater keep smugly talking about them? Does photography, a medium that we traditionally have come to understand as largely physical, have a place in this new format?
This article is an attempt to distill these and other questions down to a digestible resource for my fellow photographers and others who find themselves curious about a virtual path for the future of photography.
The Basics of NFTs
There’s no better place to start than the basics — so, what is an NFT? I will keep this relatively simple. NFTs (non-fungible tokens) are essentially a digital mechanism for the provable ownership of a digital asset. They do not represent a physical counterpart but are instead a token that can cryptographically prove ownership (via the underlying technology of the blockchain) of what they represent. Some in the art world have come to think of this as a sort of Proof of Authenticity for digital goods…