Non Fungible Token

This op-ed style essay examines the wildly exaggerated claims made for Non-Fungible Tokens or NFT artworks. Above all, it questions the NFT's  peculiar reversal of digital media's inherent interchangeability by turning back to the centuries-old legacy of individual authorship and visionary private property. "NFT Fever: Is it Time for a Great Refusal 2.0?," was originally written for and published by the Portuguese cultural journal, Electra Magazine, and is hereby updated with some important corrections to the technical details. https://www.fundacaoedp.pt/en/content/electra-magazine

Currently, there is a lack of academic literature that analyzes Fandom Marketing and the impact of NFTs on it. With the help of this Thesis, the impact of an actor as Non-Fungible Tokens is examined from the perspective of consumption of target audiences; how likely they are and motivators to purchase NFT-based fan collectibles, analyzing different types of NFT-based collectibles, trends and challenges audiences think that will have an influence on their consumption.

The art industry has commercialised and popularised non-fungible tokens (NFTs), with the volume and value of NFT transactions rapidly growing to US$ 10.7 billion in Q3 2021. The increase in NFT transactions has drawn the attention of the art market to the consequent carbon emissions resulting from verifying transactions in proof-ofwork blockchains supporting NFT transactions. With CO 2-related deaths attributable to NFT transactions, social pressure from the art market has helped to progress the switch away from the deliberately polluting proof-ofwork blockchains to more sustainable consensus protocols. Nonetheless, many popular types of blockchain have resisted the pressure to decrease their environmental impact, including Bitcoin, whose attributed 2021 annual emissions will produce emissions responsible for around 19,000 future deaths. In response, recent global policy interventions have employed legal and fiscal tools to reduce the carbon impact of some or all types of blockchains. Linking the damage caused by proof-of-work blockchains to climate change and human mortality, this study examines the recent policy interventions designed to motivate a shift in blockchain consensus protocols and promote miners' energy efficiency to mitigate environmental damage. This article further explores available policy intervention options that are currently not utilised.

Non-Fungible Tokens (NFTs) have recently attracted a lot of investor interest, with some NFTs achieving selling prices that were previously unthinkable for a non-fungible virtual asset. As with any new and untested investment space, investing in NFTs comes with a number of risks and associated challenges. This paper shows insights on what are NFTs, how do NFTs work and about the sustainability of NFTs. The conclusion of this paper discusses if one should invest in NFTs or not, in addition to its sustainability with respect to environment.

As an artistic practice, generative art has constantly been evolving in terms of its medium and praxis along with technological innovations. Blockchain technology, which causes significant changes in socio-economic terms, also leads to the emergence of new practices and the crypto art movement. NFT (Non- Fungible Token) Marketplaces use that technology to push the boundaries of generative art beyond what was not possible before, such as rendering
realistic 3D (Three Dimensional) graphics in real-time without using specific hardware systems. While Crypto Art galleries decentralize the traditional art market, emergent technologies liberate generative artworks requiring specific hardware systems by transforming a standard web browser application into a computational medium. In this paper, the author first proposes a taxonomy for "Generative Art" creations as "Dynamic" and "Static" in terms of generated media type to distinguish fixed time-based creations (Image files and videos) from animated works that need technological mediums. Afterward, the author asserts that online NFT Marketplace environments dematerialize the "Dynamic" generative works of art by transforming regular web browsers into computational mediums. Thus, the code-based creations become conceptually independent from additional hardware systems. That innovation offers an alternative solution on selling, transporting, preserving, and remaining the uniqueness of "Dynamic" works of art that was not possible before.

Il presente contributo analizza i riflessi giuridici dell'impiego delle nuove tecnologie legate a Non Fungible Tokens (NFTs), smart contracts e blockchain con riferimento al settore artistico-creativo, fenomeno che desta sempre maggior interesse. Nell'ultimo anno gli NFTs hanno, infatti, rivoluzionato il mercato dell'arte e della moda, dando vita ai fenomeni della crypto art e del digital fashion.

The research undertaken in the following paper bases its analysis on the model of the decentralized governance, offered in the case of blockchain technologies. The focus will be centered on some social elements of innovation introduced by the blockchain system, such as the Non-fungible tokens (NFT) and on the argument of their undeniable influence on a social, political and cultural levelinto forming a new model of governance. More specifically, it will be given an insight on the modes in which the compliance to the blockchain and NFT model, gives rise to new levels of relations between people, influencing their ways of living and socializing. Thus, NFTs are putting forward some novel aesthetics of interaction-exemplified by the case of a new perspective on art, and enhancing individual will and autonomy, through the circulation of cryptographic tokens within the digital space.

Sanat eserinin teknik olanaklarla yeniden üretimi sanayi devrimi ile birlikte düşünce ve sanat çevrelerini meşgul etmiştir. Fotografla
başlayan sanat eserinin çoğaltılması birtakım etik sorunları beraberinde getirirken tartışmalarında yaşanmasına neden olmuştur.
Teknolojilerin değişikliğe uğrattığı üretim biçimleri, toplumsal yapınında değişmesine ve yeni gerçekliklere ulaşılmasına olanak
tanımaktadır. Arttırılmış gerçek, yapay zeka gibi üretim biçimlerini değişikliğe uğratan gelişmelerin yanında, sanat eserinin üretiminde
de yeni yaklaşımlar ve gerçeklikler oluşmaktadır. Bu makalede, teknik olanaklarla sanat eserinin yeniden üretilmesinin kripto sanat
olarak adlandırılan, Non-Fungible Token (NFT) diğer bir deyişle değiştirilemez eşsiz varlıkların üretim sistemi, yöntemi, platformları
ile birlikte değerler sistemi incelenmektedir. Aynı zamanda, Ethereum block zinciri üzerinden ERC-721 ve ERC-1155 gibi eşsiz değer
üreten standart sözleşme ve hesap kodlarına iliştirilmiş sanat eseri veya temsili varlığın değer olarak kabul görmesinin sosyolojik ve
ekonomik yönüyle sanatçıya kazandırdığı yeni hareket alanı irdelenmektedir.
NFT’nin blokzincir teknolojisi, genel yapısı ve kullanımı hakkında detaylar incelenerek teknik detaylarıyla birlikte kripto sanat
kavramı açıklanmaktadır. Temel yapısı, limitler, kullanım giderleri anlatılarak NFT’nin bir parçası olmanın yöntemleri adım adım
belirtilmektedir. Değiştirilemez eşsiz varlıkların temel özelliği olan akıllı sözleşmelerle Ethereum arasındaki kripto kod ilişkisi
açıklanmaktadır. Kripto sanat kavramının hareketli grafiklere temelden bağımlılığı ve kripto sanat eserinin üretim yöntemlerine
yönelik belirleyiciler ifade edilmektedir.

Non-fungible tokens (NFTs) and blockchain technology have exploded into both the creative industries and the mainstream discourse. This article aims to outline the current state of implementation in the film industry specifically, and to attempt to sort true potential from the hype. The piece opens with an overview of the core issues around blockchain and NFTs as they apply to film properties and adjacent products. Current implementations of the technology are then outlined, before finishing with a hesitant glimpse into the potential future applications.

In the early spring of 2021, the NFT acronym that stands for non-fungible token became viral across the internet landscape. According to Google statistics, the popularity of search queries for the term surged from almost zero in January-February to the highest score of 100 in mid-March. Even though the hype seems to have subsided, the United States, Canada and China continue to show a steady interest in the new tokens, which means there is significant potential for their continued popularity. What unexpected facets can this Ethereum platform product show? Perhaps we are witnessing a completely new page turning in the history of the blockchain technology.

Twenty-one pieces of cryptoart by Dmitry Borshch will be shown next month in two physical locations at Skolkovo. This innovation center hosts PimPay and Elfin, startups that provided high-resolution displays, big enough to display the work at scales intended by the artist, for his show. That's one reason to show cryptoart offline – displaying it at "true" scale (Elfin has a projector, so few artworks that are too big for the displays will be projected onto the space's wall). Another reason is meeting artists; both startups believe their employees and others invited to the show's opening where Dmitry will explain these blue-and-white pieces, styled by him CryptoBlues, profit from such meetings. In late November of this year he will show all twenty-one of them, displayed together with eleven pink collages, at Azrieli Center in Israel, his first show there, under the title "Cryptofied". Later these thirty-two works, some like "Unchained from Lust", "A Mining Archer", "Will it contain you, this house I have built?", "fashy", "The Undertaker’s Pale Children", and "Better One Bird" transformed into audiovisual ones, are coming to Melville, New York for a show entitled "Crypto Optimism", jointly produced by an investment advisory firm in that hamlet and Russian American Cultural Center.

"I am hopefully a sober optimist about cryptoart, but an explanation first. Images produced on paper, canvas, other support, if artistic enough, become digital artworks when they're digitized artistically (reproductions cannot be art) – these, if minted as NFTs, become cryptoart, whether sold for cryptocurrency or not. It's this tokenization that unites different works in my shows instead of common themes. They are 'lazy-minted' on the Ethereum blockchain. I decided to mint there to benefit from Ethereum's network effect, but will not sell NFTs on the blockchain until it fully transitions to proof-of-stake. Environment isn't the only reason selling now is premature: 'smart contract' vulnerabilities, their publication on different blockchains, thereby undermining scarcity of the artworks described in these contracts (even when they describe an open edition, its sale is often time-limited and happens on one blockchain, not many) are two other reasons," explains Borshch.

He continues, "That a digitized image, still or moving, has become a tradable, rentable digital asset isn't new; its 'distributed financialization' is. Trades of NFTs categorized as art and excluding all other kinds, when measured by the total number of daily sales, have peaked in August after falling, rising for months since their last peak in January. The exchange value, and with it use value, of these NFTs are on the rise now (it's early September) – I am using both terms in contemporary, post-Marxian senses. The latter is pleasure that one derives from ownership of his NFT, being viewed by others as a collector of scarce, non-fungible assets and the elevated status that brings, peacocking it allows... But those assets are divorced from taste. I thought Beeple's collage "Everydays" was produced with the encouragement of Christie's auctioneers because they were reluctant to display his crappy pictures – he named them and himself Beeple Crap – individually, yet even the finest auctions today sell cartoonlike items, so many think buyers who participate in them are less concerned with displays of tastefulness, more with buying (and often quickly reselling or flipping) the most profitable way."

The art industry has commercialised and popularised non-fungible tokens (NFTs), with the volume and value of NFT transactions rapidly growing to US$ 10.7 billion in Q3 2021. The increase in NFT transactions has drawn the attention of the art market to the consequent carbon emissions resulting from verifying transactions in proof-ofwork blockchains supporting NFT transactions. With CO 2-related deaths attributable to NFT transactions, social pressure from the art market has helped to progress the switch away from the deliberately polluting proof-ofwork blockchains to more sustainable consensus protocols. Nonetheless, many popular types of blockchain have resisted the pressure to decrease their environmental impact, including Bitcoin, whose attributed 2021 annual emissions will produce emissions responsible for around 19,000 future deaths. In response, recent global policy interventions have employed legal and fiscal tools to reduce the carbon impact of some or all types of blockchains. Linking the damage caused by proof-of-work blockchains to climate change and human mortality, this study examines the recent policy interventions designed to motivate a shift in blockchain consensus protocols and promote miners' energy efficiency to mitigate environmental damage. This article further explores available policy intervention options that are currently not utilised.

Il contributo affronta un tema solo in parte discusso nel panorama dottrinale attuale, ovvero quello dei non fungible tokens utilizzati per la valorizzazione e la crescita dei beni culturali nelle aree distrutte a causa dei disastri ambientali. Il fenomeno viene analizzato nella duplice prospettiva del diritto civile interno e del diritto internazionale privato, prendendo anche in esame la normativa relativa alla protezione delle opere d’arte e dei beni culturali dell’Unesco. Il contributo si divide in due parti: la prima analizza la natura giuridica, gli effetti, le intersezioni con altre materie, dei non fungible tokens e la loro interrelazione con l’arte; la seconda, invece, analizza, più nello specifico, la possibilità di utilizzo dei NFT come trampolino di lancio per le città d’arte distrutte a causa di disastri naturali. Il tutto analizzato nell’ottica della legalità multilivello (chiamata anche reticolare).

In a 2019 report for the International Journal of Communication, Baym et al. positioned distributed blockchain ledger technology, and what would subsequently be referred to as Web3, as a convening technology. Riffing off Barnett, a convening technology “initiates and serves as the focus of a conversation that can address issues far beyond what it may ultimately be able to address itself” (403). The case studies for the Baym et al. research—early, aspirant projects applying the blockchain concept to music publishing and distribution—are described in the piece as speculations or provocations concerning music’s commercial and social future. What is convened in this era (pre-2017 blockchain music discourse and practice) is the potential for change: a type of widespread, broadly discussed, reimagination of the 21st-century music industries, productive precisely because near-future applications suggest the realisation of what Baym et al. call dreams. In this article, we aim to examine the Web3 music field as it lies some years later. Taking the latter half of 2021 as our subject, we present a survey of where music then resided within Web3, focussing on how the dreams of Baym et al. have morphed and evolved, and materialised and declined, in the intervening years. By investigating the discourse and functionality of 2021’s current crop of music NFTs—just one thread of music Web3’s far-reaching aspiration, but a potent and accessible manifestation nonetheless—we can make a detailed analysis of concept-led application. Volatility remains throughout the broader sector, and all of the projects listed here could be read as conditionally short-term and untested, but what they represent is a series of clearly evolved case studies of the dream, rich precisely because of what is assumed and disregarded.

La web3 posibilita la descentralización de operaciones por lo que se generarían transacciones entre particulares o entes económicos sin cargas de información innecesarias, procesos, procedimientos, políticas o intereses ajenos a la transacción pura de un préstamo.

Non-fungible tokens have been a unique transformation in the implementation of the concept of distributed ledger technology in digital assets. NFTs are said to be non-interchangeable, which distinguishes its value from fungible tokens like Bitcoin (Btc). Scammers are utilizing the open source nature of the blockchain to victimize users and steal their NFTs, leaving NFT collectors with infringed artwork. In a bid to eliminate security vulnerability and attack in NFT platform, we implemented a smart contract verification model. Our verification model is a 2-pronged approach that utilized F*, functional programming language. We presented two tools that translated solidity source code and EVM bytecode to solidity* and EVM* respectively. The EVM decompiler analyzes contracts in which the solidity source codes are unavailable as well as low level properties of contracts. The EVM* and Solidity* tools helped to check the equivalence between a solidity program and the bytecode output from the solidity compiler in order to avoid bugs and preserve verified properties at the source level. In this paper, Etherscan token tracker was used to verify and authenticate NFT token before buying or minting such NFT.

This NFT has been selected from a total of 800 photos of Kurdish culture and history and has been designed with only two absolute colors of black and white during a year of teamwork. Black and white narrate the endless hardships of these people, and in general, the cost of selling it belongs to the orphans.