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Leisure centres scrap biometric systems to keep tabs on staff amid UK data watchdog clampdown
Tue, 16 Apr 2024 05:00:31 GMT
Firms such as Serco and Virgin Active pull facial recognition and fingerprint scan systems used to monitor staff attendance
Dozens of companies including national leisure centre chains are reviewing or pulling facial recognition technology and fingerprint scanning used to monitor staff attendance after a clampdown by the UK’s data watchdog.
In February, the Information Commissioner’s Office (ICO) ordered a Serco subsidiary to stop using biometrics to monitor the attendance of staff at leisure centres it operates and also issued more stringent guidance on the use of facial recognition and fingerprint scanning.
Continue reading...British PM says he will speak to Netanyahu to express solidarity and discuss how further escalation can be avoided
UK general election opinion poll tracker: Labour leading as election looms
David Cameron ruled out trying to become PM again in an interview this morning. (See 9.30am.) But Liz Truss has not done so. In an interview with LBC’s Iain Dale, being broadcast tonight, she did not entirely dismiss the possibility. This is from LBC’s Henry Riley.
Truss is giving interviews to publicise her memoir which is out this week. According to extracts sent out in advance, she also confirmed in her LBC interview that she wanted to see Donald Trump win the US presidential election. She said:
I don’t think [Joe] Biden has been particularly supportive to the United Kingdom. I think he’s often on the side of the EU. And I certainly think I would like to see a new president in the White House …
The thing I would say about Donald Trump is, because I served as secretary of state under both Trump and Biden, and Trump’s policies were actually very effective. If you look at his economic policies, and I met his regulatory czar, I travelled around the United States looking at what he’d done. He cut regulation, he cut taxes, he liberated the US energy supply. And this is why the US has had significantly higher economic growth than Britain.
Continue reading...Death anxiety and end-of-life planning are all in a day’s work for a care worker who helps shepherd clients off this mortal coil
There is little about Alua Arthur that emanates the deathly or morbid. The 45-year-old Los Angeles resident has a radiant, gap-toothed smile, a propensity for citrus-colored nail polish and an inclination to laugh before she finishes a sentence.
But not long ago, she was a Legal Aid worker struggling with depression, frequently taking breaks to travel around the world, attend music festivals, visit friends and enjoy short-lived romances with fellow searchers. While backpacking in Cuba, she boarded a bus and sat next to a woman around her age who revealed that she had been diagnosed with uterine cancer. What followed was an hours-long conversation that sent her world off its axis.
Continue reading...A recent auction of designs – including a Pinocchio-themed flume and Anything Can Happen Land – shows how much Disney has changed. But what might the next generation of attractions look like?
Sad to say, but you have just missed out on one of the greatest auctions of all time. Earlier this month in Beverly Hills, as part of its The Art of Disneyland collection, Heritage Auctions sold off a collection of artwork commissioned by Disney, for a number of rides and attractions that were initially conceived for Disneyland but never actually built.
As such, the lots amount to a parallel universe; one in which millions of visitors a year would have strolled through the bellies of giant crocodiles gazing at aquarium exhibits, travelled around on Steamboat Willie’s paddle boat and embarked on another Pinocchio-themed water flume that would have flung visitors through the mouth of Monstro the whale.
Continue reading...Olaf Scholz says European cars should have equal access to Chinese customers
The chancellor of Germany has urged industry bosses in China to play fair by not overproducing cheap goods or infringing copyright rules.
Speaking on a three-day visit to China, where he is travelling with leading business representatives and three government ministers, Olaf Scholz said he, in turn, would encourage the European Union not to be driven by self-interested protectionism, in which governments restrict international trade to help domestic companies.
Continue reading...Authorities continuing ‘intimidation’ including separating children from their parents, despite pledge to end collective punishment
China continues to unlawfully target the families of activists and dissidents, despite a pledge to end the practice of collective punishment, a Chinese human rights group has said in a report.
The persecution, which includes intimidation and harassment, forced evictions, travel bans, criminal proceedings against family members and preventing children from attending school, has affected people across China and the diaspora community for decades, the report by the Chinese Human Rights Defenders (CHRD) group said.
Continue reading...Some people in Ambelia camp waiting for treatment to wounds resulting from ethnic violence last year
Hundreds of displaced Sudanese people living in a refugee camp across the border in Chad have been unable to access vital medical care for injuries sustained during fierce battles in the Sudanese city of Geneina in the past year.
Some of those in the vast Ambelia camp near the city of Adré have permanent disabilities that could have been avoided had they undergone surgery, according to the refugees themselves and activists who are trying to arrange travel to Port Sudan in eastern Sudan, where they say medical facilities are relatively better than in Chad.
Continue reading...From Puerta del Sol plaza in Madrid to the Tuileries Garden in Paris, guides reshape stories continent tells about itself
Dodging between throngs of tourists and workers on their lunch breaks in Madrid’s Puerta del Sol plaza, we stop in front of the nearly 3-tonne statue depicting King Carlos III on a horse. Playfully nicknamed Madrid’s best mayor, Carlos III is credited with modernising the city’s lighting, sewage systems and rubbish removal.
Kwame Ondo, the tour guide behind AfroIbérica Tours, offers up another, albeit lesser-known tidbit about the monarch. “He was one of the biggest slave owners of his time,” says Ondo, citing the 1,500 enslaved people he kept on the Iberian peninsula and the 18,500 others held in Spain’s colonies in the Americas. As aristocratic families sought to keep up with the monarch, the proportion of enslaved people in Madrid swelled to an estimated 4% of the population in the 1780s.
Continue reading...From biking adventures to city breaks, get inspiration for your next break – whether in the UK or further afield – with twice-weekly emails from the Guardian’s travel editors. You’ll also receive handpicked offers from Guardian Holidays.
From biking adventures to city breaks, get inspiration for your next break – whether in the UK or further afield – with twice-weekly emails from the Guardian’s travel editors.
You’ll also receive handpicked offers from Guardian Holidays.
Continue reading... |
Imagine a world in which you can do transactions and many other things without having to give your personal information. A world in which you don’t need to rely on banks or governments anymore. Sounds amazing, right? That’s exactly what blockchain technology allows us to do.
It’s like your computer’s hard drive. blockchain is a technology that lets you store data in digital blocks, which are connected together like links in a chain.
Blockchain technology was originally invented in 1991 by two mathematicians, Stuart Haber and W. Scot Stornetta. They first proposed the system to ensure that timestamps could not be tampered with.
A few years later, in 1998, software developer Nick Szabo proposed using a similar kind of technology to secure a digital payments system he called “Bit Gold.” However, this innovation was not adopted until Satoshi Nakamoto claimed to have invented the first Blockchain and Bitcoin.
A blockchain is a distributed database shared between the nodes of a computer network. It saves information in digital format. Many people first heard of blockchain technology when they started to look up information about bitcoin.
Blockchain is used in cryptocurrency systems to ensure secure, decentralized records of transactions.
Blockchain allowed people to guarantee the fidelity and security of a record of data without the need for a third party to ensure accuracy.
To understand how a blockchain works, Consider these basic steps:
Let’s get to know more about the blockchain.
Blockchain records digital information and distributes it across the network without changing it. The information is distributed among many users and stored in an immutable, permanent ledger that can't be changed or destroyed. That's why blockchain is also called "Distributed Ledger Technology" or DLT.
Here’s how it works:
And that’s the beauty of it! The process may seem complicated, but it’s done in minutes with modern technology. And because technology is advancing rapidly, I expect things to move even more quickly than ever.
Even though blockchain is integral to cryptocurrency, it has other applications. For example, blockchain can be used for storing reliable data about transactions. Many people confuse blockchain with cryptocurrencies like bitcoin and ethereum.
Blockchain already being adopted by some big-name companies, such as Walmart, AIG, Siemens, Pfizer, and Unilever. For example, IBM's Food Trust uses blockchain to track food's journey before reaching its final destination.
Although some of you may consider this practice excessive, food suppliers and manufacturers adhere to the policy of tracing their products because bacteria such as E. coli and Salmonella have been found in packaged foods. In addition, there have been isolated cases where dangerous allergens such as peanuts have accidentally been introduced into certain products.
Tracing and identifying the sources of an outbreak is a challenging task that can take months or years. Thanks to the Blockchain, however, companies now know exactly where their food has been—so they can trace its location and prevent future outbreaks.
Blockchain technology allows systems to react much faster in the event of a hazard. It also has many other uses in the modern world.
Blockchain technology is safe, even if it’s public. People can access the technology using an internet connection.
Have you ever been in a situation where you had all your data stored at one place and that one secure place got compromised? Wouldn't it be great if there was a way to prevent your data from leaking out even when the security of your storage systems is compromised?
Blockchain technology provides a way of avoiding this situation by using multiple computers at different locations to store information about transactions. If one computer experiences problems with a transaction, it will not affect the other nodes.
Instead, other nodes will use the correct information to cross-reference your incorrect node. This is called “Decentralization,” meaning all the information is stored in multiple places.
Blockchain guarantees your data's authenticity—not just its accuracy, but also its irreversibility. It can also be used to store data that are difficult to register, like legal contracts, state identifications, or a company's product inventory.
Blockchain has many advantages and disadvantages.
I’ll answer the most frequently asked questions about blockchain in this section.
Blockchain is not a cryptocurrency but a technology that makes cryptocurrencies possible. It's a digital ledger that records every transaction seamlessly.
Yes, blockchain can be theoretically hacked, but it is a complicated task to be achieved. A network of users constantly reviews it, which makes hacking the blockchain difficult.
Coinbase Global is currently the biggest blockchain company in the world. The company runs a commendable infrastructure, services, and technology for the digital currency economy.
Blockchain is a decentralized technology. It’s a chain of distributed ledgers connected with nodes. Each node can be any electronic device. Thus, one owns blockhain.
Bitcoin is a cryptocurrency, which is powered by Blockchain technology while Blockchain is a distributed ledger of cryptocurrency
Generally a database is a collection of data which can be stored and organized using a database management system. The people who have access to the database can view or edit the information stored there. The client-server network architecture is used to implement databases. whereas a blockchain is a growing list of records, called blocks, stored in a distributed system. Each block contains a cryptographic hash of the previous block, timestamp and transaction information. Modification of data is not allowed due to the design of the blockchain. The technology allows decentralized control and eliminates risks of data modification by other parties.
Blockchain has a wide spectrum of applications and, over the next 5-10 years, we will likely see it being integrated into all sorts of industries. From finance to healthcare, blockchain could revolutionize the way we store and share data. Although there is some hesitation to adopt blockchain systems right now, that won't be the case in 2022-2023 (and even less so in 2026). Once people become more comfortable with the technology and understand how it can work for them, owners, CEOs and entrepreneurs alike will be quick to leverage blockchain technology for their own gain. Hope you like this article if you have any question let me know in the comments section
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Non-fungible tokens (NFTs) are the most popular digital assets today, capturing the attention of cryptocurrency investors, whales and people from around the world. People find it amazing that some users spend thousands or millions of dollars on a single NFT-based image of a monkey or other token, but you can simply take a screenshot for free. So here we share some freuently asked question about NFTs.
NFT stands for non-fungible token, which is a cryptographic token on a blockchain with unique identification codes that distinguish it from other tokens. NFTs are unique and not interchangeable, which means no two NFTs are the same. NFTs can be a unique artwork, GIF, Images, videos, Audio album. in-game items, collectibles etc.
A blockchain is a distributed digital ledger that allows for the secure storage of data. By recording any kind of information—such as bank account transactions, the ownership of Non-Fungible Tokens (NFTs), or Decentralized Finance (DeFi) smart contracts—in one place, and distributing it to many different computers, blockchains ensure that data can’t be manipulated without everyone in the system being aware.
The value of an NFT comes from its ability to be traded freely and securely on the blockchain, which is not possible with other current digital ownership solutionsThe NFT points to its location on the blockchain, but doesn’t necessarily contain the digital property. For example, if you replace one bitcoin with another, you will still have the same thing. If you buy a non-fungible item, such as a movie ticket, it is impossible to replace it with any other movie ticket because each ticket is unique to a specific time and place.
One of the unique characteristics of non-fungible tokens (NFTs) is that they can be tokenised to create a digital certificate of ownership that can be bought, sold and traded on the blockchain.
As with crypto-currency, records of who owns what are stored on a ledger that is maintained by thousands of computers around the world. These records can’t be forged because the whole system operates on an open-source network.
NFTs also contain smart contracts—small computer programs that run on the blockchain—that give the artist, for example, a cut of any future sale of the token.
Non-fungible tokens (NFTs) aren't cryptocurrencies, but they do use blockchain technology. Many NFTs are based on Ethereum, where the blockchain serves as a ledger for all the transactions related to said NFT and the properties it represents.5) How to make an NFT?
Anyone can create an NFT. All you need is a digital wallet, some ethereum tokens and a connection to an NFT marketplace where you’ll be able to upload and sell your creations
When you purchase a stock in NFT, that purchase is recorded on the blockchain—the bitcoin ledger of transactions—and that entry acts as your proof of ownership.
The value of an NFT varies a lot based on the digital asset up for grabs. People use NFTs to trade and sell digital art, so when creating an NFT, you should consider the popularity of your digital artwork along with historical statistics.
In the year 2021, a digital artist called Pak created an artwork called The Merge. It was sold on the Nifty Gateway NFT market for $91.8 million.
Non-fungible tokens can be used in investment opportunities. One can purchase an NFT and resell it at a profit. Certain NFT marketplaces let sellers of NFTs keep a percentage of the profits from sales of the assets they create.
Many people want to buy NFTs because it lets them support the arts and own something cool from their favorite musicians, brands, and celebrities. NFTs also give artists an opportunity to program in continual royalties if someone buys their work. Galleries see this as a way to reach new buyers interested in art.
There are many places to buy digital assets, like opensea and their policies vary. On top shot, for instance, you sign up for a waitlist that can be thousands of people long. When a digital asset goes on sale, you are occasionally chosen to purchase it.
To mint an NFT token, you must pay some amount of gas fee to process the transaction on the Etherum blockchain, but you can mint your NFT on a different blockchain called Polygon to avoid paying gas fees. This option is available on OpenSea and this simply denotes that your NFT will only be able to trade using Polygon's blockchain and not Etherum's blockchain. Mintable allows you to mint NFTs for free without paying any gas fees.
The answer is no. Non-Fungible Tokens are minted on the blockchain using cryptocurrencies such as Etherum, Solana, Polygon, and so on. Once a Non-Fungible Token is minted, the transaction is recorded on the blockchain and the contract or license is awarded to whoever has that Non-Fungible Token in their wallet.
You can sell your work and creations by attaching a license to it on the blockchain, where its ownership can be transferred. This lets you get exposure without losing full ownership of your work. Some of the most successful projects include Cryptopunks, Bored Ape Yatch Club NFTs, SandBox, World of Women and so on. These NFT projects have gained popularity globally and are owned by celebrities and other successful entrepreneurs. Owning one of these NFTs gives you an automatic ticket to exclusive business meetings and life-changing connections.
That’s a wrap. Hope you guys found this article enlightening. I just answer some question with my limited knowledge about NFTs. If you have any questions or suggestions, feel free to drop them in the comment section below. Also I have a question for you, Is bitcoin an NFTs? let me know in The comment section below
In the rapidly advancing landscape of AI technology and innovation, LimeWire emerges as a unique platform in the realm of generative AI tools. This platform not only stands out from the multitude of existing AI tools but also brings a fresh approach to content generation. LimeWire not only empowers users to create AI content but also provides creators with creative ways to share and monetize their creations.
As we explore LimeWire, our aim is to uncover its features, benefits for creators, and the exciting possibilities it offers for AI content generation. This platform presents an opportunity for users to harness the power of AI in image creation, all while enjoying the advantages of a free and accessible service.
Let's unravel the distinctive features that set LimeWire apart in the dynamic landscape of AI-powered tools, understanding how creators can leverage its capabilities to craft unique and engaging AI-generated images.
This revamped LimeWire invites users to register and unleash their creativity by crafting original AI content, which can then be shared and showcased on the LimeWire Studio. Notably, even acclaimed artists and musicians, such as Deadmau5, Soulja Boy, and Sean Kingston, have embraced this platform to publish their content in the form of NFT music, videos, and images.
Beyond providing a space for content creation and sharing, LimeWire introduces monetization models to empower users to earn revenue from their creations. This includes avenues such as earning ad revenue and participating in the burgeoning market of Non-Fungible Tokens (NFTs). As we delve further, we'll explore these monetization strategies in more detail to provide a comprehensive understanding of LimeWire's innovative approach to content creation and distribution.
LimeWire Studio welcomes content creators into its fold, providing a space to craft personalized AI-focused content for sharing with fans and followers. Within this creative hub, every piece of content generated becomes not just a creation but a unique asset—ownable and tradable. Fans have the opportunity to subscribe to creators' pages, immersing themselves in the creative journey and gaining ownership of digital collectibles that hold tradeable value within the LimeWire community. Notably, creators earn a 2.5% royalty each time their content is traded, adding a rewarding element to the creative process.
The platform's flexibility is evident in its content publication options. Creators can choose to share their work freely with the public or opt for a premium subscription model, granting exclusive access to specialized content for subscribers.
As of the present moment, LimeWire focuses on AI Image Generation, offering a spectrum of creative possibilities to its user base. The platform, however, has ambitious plans on the horizon, aiming to broaden its offerings by introducing AI music and video generation tools in the near future. This strategic expansion promises creators even more avenues for expression and engagement with their audience, positioning LimeWire Studio as a dynamic and evolving platform within the realm of AI-powered content creation.
The LimeWire AI image generation tool presents a versatile platform for both the creation and editing of images. Supporting advanced models such as Stable Diffusion 2.1, Stable Diffusion XL, and DALL-E 2, LimeWire offers a sophisticated toolkit for users to delve into the realm of generative AI art.
Much like other tools in the generative AI landscape, LimeWire provides a range of options catering to various levels of complexity in image creation. Users can initiate the creative process with prompts as simple as a few words or opt for more intricate instructions, tailoring the output to their artistic vision.
What sets LimeWire apart is its seamless integration of different AI models and design styles. Users have the flexibility to effortlessly switch between various AI models, exploring diverse design styles such as cinematic, digital art, pixel art, anime, analog film, and more. Each style imparts a distinctive visual identity to the generated AI art, enabling users to explore a broad spectrum of creative possibilities.
The platform also offers additional features, including samplers, allowing users to fine-tune the quality and detail levels of their creations. Customization options and prompt guidance further enhance the user experience, providing a user-friendly interface for both novice and experienced creators.
Excitingly, LimeWire is actively developing its proprietary AI model, signaling ongoing innovation and enhancements to its image generation capabilities. This upcoming addition holds the promise of further expanding the creative horizons for LimeWire users, making it an evolving and dynamic platform within the landscape of AI-driven art and image creation.
Sign Up Now To Get Free Credits
Upon completing your creative endeavor on LimeWire, the platform allows you the option to publish your content. An intriguing feature follows this step: LimeWire automates the process of minting your creation as a Non-Fungible Token (NFT), utilizing either the Polygon or Algorand blockchain. This transformative step imbues your artwork with a unique digital signature, securing its authenticity and ownership in the decentralized realm.
Creators on LimeWire hold the power to decide the accessibility of their NFT creations. By opting for a public release, the content becomes discoverable by anyone, fostering a space for engagement and interaction. Furthermore, this choice opens the avenue for enthusiasts to trade the NFTs, adding a layer of community involvement to the artistic journey.
Alternatively, LimeWire acknowledges the importance of exclusivity. Creators can choose to share their posts exclusively with their premium subscribers. In doing so, the content remains a special offering solely for dedicated fans, creating an intimate and personalized experience within the LimeWire community. This flexibility in sharing options emphasizes LimeWire's commitment to empowering creators with choices in how they connect with their audience and distribute their digital creations.
After creating your content, you can choose to publish the content. It will automatically mint your creation as an NFT on the Polygon or Algorand blockchain. You can also choose whether to make it public or subscriber-only.
If you make it public, anyone can discover your content and even trade the NFTs. If you choose to share the post only with your premium subscribers, it will be exclusive only to your fans.
Additionally, you can earn ad revenue from your content creations as well.
When you publish content on LimeWire, you will receive 70% of all ad revenue from other users who view your images, music, and videos on the platform.
This revenue model will be much more beneficial to designers. You can experiment with the AI image and content generation tools and share your creations while earning a small income on the side.
The revenue you earn from your creations will come in the form of LMWR tokens, LimeWire’s own cryptocurrency.
Your earnings will be paid every month in LMWR, which you can then trade on many popular crypto exchange platforms like Kraken, ByBit, and UniSwap.
You can also use your LMWR tokens to pay for prompts when using LimeWire generative AI tools.
You can sign up to LimeWire to use its AI tools for free. You will receive 10 credits to use and generate up to 20 AI images per day. You will also receive 50% of the ad revenue share. However, you will get more benefits with premium plans.
For $9.99 per month, you will get 1,000 credits per month, up to 2 ,000 image generations, early access to new AI models, and 50% ad revenue share
For $29 per month, you will get 3750 credits per month, up to 7500 image generations, early access to new AI models, and 60% ad revenue share
For $49 per month, you will get 5,000 credits per month, up to 10,000 image generations, early access to new AI models, and 70% ad revenue share
For $99 per month, you will get 11,250 credits per month, up to 2 2,500 image generations, early access to new AI models, and 70% ad revenue share
With all premium plans, you will receive a Pro profile badge, full creation history, faster image generation, and no ads.
Sign Up Now To Get Free Credits
In conclusion, LimeWire emerges as a democratizing force in the creative landscape, providing an inclusive platform where anyone can unleash their artistic potential and effortlessly share their work. With the integration of AI, LimeWire eliminates traditional barriers, empowering designers, musicians, and artists to publish their creations and earn revenue with just a few clicks.
The ongoing commitment of LimeWire to innovation is evident in its plans to enhance generative AI tools with new features and models. The upcoming expansion to include music and video generation tools holds the promise of unlocking even more possibilities for creators. It sparks anticipation about the diverse and innovative ways in which artists will leverage these tools to produce and publish their own unique creations.
For those eager to explore, LimeWire's AI tools are readily accessible for free, providing an opportunity to experiment and delve into the world of generative art. As LimeWire continues to evolve, creators are encouraged to stay tuned for the launch of its forthcoming AI music and video generation tools, promising a future brimming with creative potential and endless artistic exploration
Hannah Gutierrez-Reed’s punishment is most substantial criminal consequence yet over Alec Baldwin shooting cinematographer
The chief weapons handler on Rust was sentenced to 18 months in prison for the 2021 fatal, on-set shooting of the movie’s cinematographer Halyna Hutchins by the actor Alec Baldwin.
Hannah Gutierrez-Reed was found guilty of involuntary manslaughter in March for mistakenly loading a live round into the revolver Baldwin used in the film. The judge in the case said on Monday she had failed to take responsibility for her role in Hutchins’s death and sentenced her to prison.
Reuters contributed to this report
Continue reading...Amid the internal battle over the New York Times’s coverage of Israel’s war, top editors handed down a set of directives.
The post Leaked NYT Gaza Memo Tells Journalists to Avoid Words “Genocide,” “Ethnic Cleansing,” and “Occupied Territory” appeared first on The Intercept.
Alex Garland’s speculative and apolitical action film might be a box office hit but it’s a frustratingly weightless experience
The music video for MIA’s Born Free imagines a ginger genocide, with humvees of jackbooted, gas-masked stormtroopers raiding a high-rise housing complex to round up redheads. Even before the condemned are bussed out to the desert and used for target practice, the camerawork luxuriates in extreme content – needless collateral brutalization, a slow-mo closeup of a man smoking from a glass stem, a harsh coitus interruptus for a nude couple. All the while, a driving synth loop and kinetic cinematography keep things moving at a brisk, exciting clip befitting the high-energy banger at hand; one of the goons mugs through the fourth wall and lip-syncs a “whoo!” in time with the track.
The video has far more use for the edgy textures of state-sponsored violence than its messy realities, the intellectual engagement topping out at “ethnic cleansing is bad, and who knows, it could happen to you!” At nine minutes, this doesn’t pose such a pressing problem for the director Romain Gavras as it did on his 2022 feature Athena, wherein spectacular formal pyrotechnics gave way to the conclusion that riot police and proletarian protesters have something to learn about getting along. These atrocities may be ghastly, but that’s hardly the point. This stuff makes for cracking footage, every headshot worthy of a post on One Perfect Shot.
Continue reading...
Video:
00:29:37
Pablo Álvarez Fernández, one of ESA's five astronaut candidates currently undergoing basic astronaut training at the European Astronaut Centre in Cologne, Germany, shares his experiences in astronaut training, his favourite lessons, and his view on the future of space exploration. Also, stay tuned to hear his favourite space-related quote and movie!
This is Episode 5 of our ESA Explores podcast series introducing the ESA astronaut class of 2022, recorded in November 2023.
Music and audio editing by Denzel Lorge. Cover art by Gaël Nadaud.
Access all ESA Explores podcasts.
Non-fungible tokens (NFTs) are the most popular digital assets today, capturing the attention of cryptocurrency investors, whales and people from around the world. People find it amazing that some users spend thousands or millions of dollars on a single NFT-based image of a monkey or other token, but you can simply take a screenshot for free. So here we share some freuently asked question about NFTs.
NFT stands for non-fungible token, which is a cryptographic token on a blockchain with unique identification codes that distinguish it from other tokens. NFTs are unique and not interchangeable, which means no two NFTs are the same. NFTs can be a unique artwork, GIF, Images, videos, Audio album. in-game items, collectibles etc.
A blockchain is a distributed digital ledger that allows for the secure storage of data. By recording any kind of information—such as bank account transactions, the ownership of Non-Fungible Tokens (NFTs), or Decentralized Finance (DeFi) smart contracts—in one place, and distributing it to many different computers, blockchains ensure that data can’t be manipulated without everyone in the system being aware.
The value of an NFT comes from its ability to be traded freely and securely on the blockchain, which is not possible with other current digital ownership solutionsThe NFT points to its location on the blockchain, but doesn’t necessarily contain the digital property. For example, if you replace one bitcoin with another, you will still have the same thing. If you buy a non-fungible item, such as a movie ticket, it is impossible to replace it with any other movie ticket because each ticket is unique to a specific time and place.
One of the unique characteristics of non-fungible tokens (NFTs) is that they can be tokenised to create a digital certificate of ownership that can be bought, sold and traded on the blockchain.
As with crypto-currency, records of who owns what are stored on a ledger that is maintained by thousands of computers around the world. These records can’t be forged because the whole system operates on an open-source network.
NFTs also contain smart contracts—small computer programs that run on the blockchain—that give the artist, for example, a cut of any future sale of the token.
Non-fungible tokens (NFTs) aren't cryptocurrencies, but they do use blockchain technology. Many NFTs are based on Ethereum, where the blockchain serves as a ledger for all the transactions related to said NFT and the properties it represents.5) How to make an NFT?
Anyone can create an NFT. All you need is a digital wallet, some ethereum tokens and a connection to an NFT marketplace where you’ll be able to upload and sell your creations
When you purchase a stock in NFT, that purchase is recorded on the blockchain—the bitcoin ledger of transactions—and that entry acts as your proof of ownership.
The value of an NFT varies a lot based on the digital asset up for grabs. People use NFTs to trade and sell digital art, so when creating an NFT, you should consider the popularity of your digital artwork along with historical statistics.
In the year 2021, a digital artist called Pak created an artwork called The Merge. It was sold on the Nifty Gateway NFT market for $91.8 million.
Non-fungible tokens can be used in investment opportunities. One can purchase an NFT and resell it at a profit. Certain NFT marketplaces let sellers of NFTs keep a percentage of the profits from sales of the assets they create.
Many people want to buy NFTs because it lets them support the arts and own something cool from their favorite musicians, brands, and celebrities. NFTs also give artists an opportunity to program in continual royalties if someone buys their work. Galleries see this as a way to reach new buyers interested in art.
There are many places to buy digital assets, like opensea and their policies vary. On top shot, for instance, you sign up for a waitlist that can be thousands of people long. When a digital asset goes on sale, you are occasionally chosen to purchase it.
To mint an NFT token, you must pay some amount of gas fee to process the transaction on the Etherum blockchain, but you can mint your NFT on a different blockchain called Polygon to avoid paying gas fees. This option is available on OpenSea and this simply denotes that your NFT will only be able to trade using Polygon's blockchain and not Etherum's blockchain. Mintable allows you to mint NFTs for free without paying any gas fees.
The answer is no. Non-Fungible Tokens are minted on the blockchain using cryptocurrencies such as Etherum, Solana, Polygon, and so on. Once a Non-Fungible Token is minted, the transaction is recorded on the blockchain and the contract or license is awarded to whoever has that Non-Fungible Token in their wallet.
You can sell your work and creations by attaching a license to it on the blockchain, where its ownership can be transferred. This lets you get exposure without losing full ownership of your work. Some of the most successful projects include Cryptopunks, Bored Ape Yatch Club NFTs, SandBox, World of Women and so on. These NFT projects have gained popularity globally and are owned by celebrities and other successful entrepreneurs. Owning one of these NFTs gives you an automatic ticket to exclusive business meetings and life-changing connections.
That’s a wrap. Hope you guys found this article enlightening. I just answer some question with my limited knowledge about NFTs. If you have any questions or suggestions, feel free to drop them in the comment section below. Also I have a question for you, Is bitcoin an NFTs? let me know in The comment section below
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