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abstract. Presenter: Shantanu Tipale.
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[Audio] NFT – Non-fungible token is a digital assets portraying real-world objects such as videos, music, art, in-game items, and even memes. You can purchase and sell NFT online, more often with cryptocurrency. Besides, the similar underlying software used in cryptos..
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[Audio] The ability to exchange money or property freely because they are the same. For example, the value of 100 rupee note will always be the same as the value of another 100 rupee note. Similarly, in cryptocurrency, the price of one bitcoin is the same as the other bitcoin. On the other hand, not every NFT is incomparable and different, and therefore they cannot be exchanged..
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[Audio] Digitally distinct, no two NFTs are the same Each NFT has an owner, so easy for anyone to verify Useful for content creators, they can sell their work anywhere and access a global market Users can use digital artwork as collateral in a decentralized loan.
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[Audio] NFT could be a unit of information on a digital ledger known as a blockchain, where every NFT will represent a novel digital item, and therefore they're not interchangeable NFTs will represent digital files like art, audio, videos, things in video games and alternative kinds of artistic work NFT are about to be used for large choice of computation activity, Digital contract, Digital art studio, Music video game.
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[Audio] One of the most popular non-fungible tokens in recent days is NBA Top Shot, a partnership between Dapper Labs (makers of the CryptoKitties game) and the National Basketball Association (NBA). The NBA licenses individual highlight video reels, among other content, to Dapper Labs, and they digitize the footage and make it available for sale to consumers. Each reel shows a video clip, such as a famous player's basketball dunk, some featuring different angles and digital artwork to make them unique. Even if someone made a perfect copy of the video, it can be instantly recognizable as a counterfeit. The venture has already generated $230 million in sales, and the company just also received $305 million in funding from a group that includes Michael Jordan and Kevin Durant..