This is our weekly newsletter that’ll cover interesting topics, resources and burning questions that you can discuss in the Slack community. Here’s the most interesting things we found this last week.
Non Fungible Tokens.
Non Fungible essentially means that it’s unique and it can’t be replaced by anything else. For example, Bitcoin is fungible, trade one for another bitcoin, and you’ll have exactly the same thing.
At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs.
NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.
The Gucci Ghost was sold for $3600. The Beeple sold an NFT for $69 Million, which, by the way, is $15 million more than Monet’s painting Nymphéas sold for in 2014.
The NFT craze is real 🧑🎨 This week we will dive deep into NFTs and discuss about them in our community. There will be some questions on the group chat for you to engage with your community members 🚀 However, we highly recommend engaging with community members on this topic!
This information has been taken from the Verge’s explanation on NFTs.
We’d love to hear your views! Be on a lookout for questions on the community slack channel in the upcoming week 🙋♂️
Top Things to Explore 🔎
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Podcasts 🎙 and Books 📚
- Hash Power with Patrick O’ Shaughnessy
A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. Too many BIG WORDS. Don’t worry. This brilliant compact podcast explains the ins and outs of the technicalities and fundamentals involved in cryptocurrency. Don’t miss this THREE episode only podcast that helps bring you closer to crypto.
- Design Thinking with SSIR
The Stanford Social Innovation Review brings this wonderful podcast applying the concepts of design thinking to fields across healthcare, race and wacky concepts like making the most energy efficient buildings possible.