What are NFTs exactly?

The world seems to be moving at breakneck speed, and many of us are wondering what's going on... while most amassing royal fortunes. Selling Tweets allows you to make money by using your expertise to let others know about current events or make predictions about important news.

Okay, let's explain that in more detail.

Blockchains

Similar to notaries, blockchains timestamp data stored in a single “block” that contains information about both the block and all neighbouring blocks, which in turn contain information about themselves and those chained to them blocks included. Each block depends on another for its validity; it cannot be checked alone.

The system is then set up as a peer-to-peer (P2P) network, and all participants receive a full copy of the blockchain. Nodes are those who have joined the P2P network. Each node validates the others and when a new block is created in the chain, it is copied to all nodes. If a block is modified in any way, its attributes change and with it its hash. It becomes invalid as soon as its hash is updated because it is no longer synchronized with the subsequent block containing its hash.

This is the technology that the NFTs take advantage of.

NFT or Non-Fungible Token

NFTs

"Non-Fungible" refers to a Digital Object that cannot be copied. We haven't been able to duplicate "non-fungible" objects in cyberspace for a long time, but thanks to blockchain we can now.

The most popular application of NFTs is as crypto tokens on the Ethereum blockchain. Therefore, they should be considered as crypto tokens with slightly modified dates.

Can you turn anything into an NFT?

Yes. Digital information, like music or a tweet, can be “tokenized” and stored on a blockchain. Yes, that's precisely what it means to say "Internet of Things". A string of intangible ones and zeros, previously unsaleable, can now be sold... for a sum of money you will never see in your life.

We're just as amazed.

Is it possible for slots to use NFTs?

Evolution Gaming, recently acquired by Tiger Gaming, is the first online gaming company to incorporate NFTs into an Online Slot. Evolution purchased four of the original CryptoPunks artworks and exhibited them in their most recent release, NFT Megaways™. That's all there is to say about it. Just a short trip into the future.

NFT Megaways

Conclusion

In a free market economy, everything is a product. ALL. From the car you drive to the pigment in your skin, everything is for sale. That's right, melanin is on the market, and it's about ten times the price of gold.

Even if the world seems to be going crazy...is it really?