Non-Fungible Tokens (NFT) Talk - SPIRAL
Transcript of Non-Fungible Tokens (NFT) Talk - SPIRAL
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NFTsASSISTANT DEANS, COLLEGE OF COMMUNICATION & DESIGN.
- DR. STEFANIE POWERS
- MIKE ARSENAULT
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NFTsCESAR SANTALO – DEAN, COLLEGE OF COMMUNICATION & DESIGN.
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NFTsHOW-TO AND INNOVATION
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Alex DuqueProfessor, Visual effects artist / 3D artist.
► INTRO
► PROVENANCE
► WHAT IS AN NFT
► A LITTLE BACK STORY
► HOW TO SETUP AN ACCOUNT
► MINTING AN NFT
► FUTURE CONSIDERATIONS
Overview
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Alex DuqueProfessor, 3D artist.
www.artstation.com/alx
www.linkedin.com/in/alex-duque
www.instagram.com/a_coffee_stain
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NFTsPROVENANCE?
► Visual effects/Cg artists generally
produce “fine art” for a company
► Traditionally Cg work has been
provided as a service or a product
► Our personal work is usually shared
freely via social media
► To turn our digital work to “fine art”
we usually have to turn our digital
work to physical.
► By doing so, provenance can be
established.
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Provenance“The history of ownership of a valued object or work of art or literature”
Merriam-Webster. (n.d.). Provenance. In Merriam-Webster.com dict ionary.Retrieved April 7, 2021, from https://www.merriam-webster.com/dict ionary/provenance
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PHYSICAL ART
► Verified Proof of ownership
► COA (Certificate of Authenticity)
► Ledger (record of sale)
► Can be traced back to origin.
Romero Britto
Acrylic on Canvas
13.75” x 14.75”
$3,195.00
Romero Britto – Superb Framed Original Acrylic Drawing, With COA. http://www.meierandsons.com/store/products/britto-romero-superb-framed-original-acrylic-drawing-with-coa
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DIGITAL ART
► Posted on social media, shared and
re-shared.
► Hard to verify Proof ownership
► No digital Certificate of Authenticity
(COA)
► No traceable ledger
Provenance
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DIGITAL ARTProvenance
► If turned into a physical version
► Can be curated by art gallery
► Can have a Certificate of
Authenticity (COA)
► If sold or auctioned. It becomes
part of a “Ledger” that can be
traced back.
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CRYPTO-ART NFTProvenance
► If turned into Crypto-art
► Unique digital contractCertificate of authenticity (COA)
► Can be traced back to the artist.provenance
► Can be one-of-a-kind or part of a series
scarcity
► Can be sold or auctionedvalue
► Can include Royalties back to the artistdesirable
► Includes a verifiable trackable ledger record of sale/transfer
provenance
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IN SHORT
Digital Art
No (COA)
Crypto-Art
Yes (COA)
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So… What is an NFT???
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What is an NFT?
► Fungibility Something Fungible is something that can be replaced with
something else of the same.
► Non Fungible token
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What is an NFT?
► Non Fungible token
► Fungibility Something NON FUNGIBLE is something unique, one-of-a-kind, no
two like it.
≠
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What is an NFT?
► What makes an NFT Unique?
► Unique ID
► Only one in the world
► No two IDs alike
► Its like a digital signature of authenticity
► Smart contract
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What is an NFT?
THE ARTWORK BECOMES PART OF THE ID
AND
THE ID BECOMES PART OF THE ARTWORK
“THEY ARE ONE IN THE SAME”
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:any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
Merriam-Webster. (n.d.). Cryptocurrency. In Merriam-Webster.com dict ionary. Retrieved April 9, 2021, from https://www.merriam-webster.com/dict ionary/cryptocurrency
How do you get that unique ID?► Through the Blockchain!
Cryptocurrency
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How do you get that unique ID?► Through the Blockchain!
Printed(Printing money)
FIAT CRYPTO
Dollars
USD
Pounds
GBP
Euros
EUR
Bitcoin
BTC
Etherium
ETH
Litecoin
LTC
Mined (Solving an algorithm)
$ €£ Ł₿
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How do you get that unique ID?► Block-chain!
Tons of transactions everyday0x495f947276749Ce646f68AC8c248420045cb7b5e
Each transaction has a unique ID
Each transaction is verified to be unique, and once verified. It becomes part of a
“public ledger”
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How do you get that unique ID?► Block-chain! https://etherscan.io/txsPublic Ledger Aka Spread sheet
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► Block-chain! - How its made
How do you get that unique ID?
0x495f947276749Ce
Block Checking IDs
Checking IDs
Checking IDs
Checking IDs
Block
Block
Block
0xa049d2664a0a082
0x2dc4ec0031a359c
0x5a0b54d5dc17e0a
World-Wide Crypto Transactions
Chain
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NFTs are created through Etherium Block-Chain
► Helps add additional information to the smart contract “ID”:
► Title
► Description
► Etc.
► Etherium’s non-fungible token standard ERC721
https://docs.opensea.io/docs/2-adding-metadata
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► Crypto-Art!
► Unique ID
► Only one in the world
► No two IDs alike
► Its like a digital Certificate Of Authenticity (C.O.A.)
► By creating an NFT through the ETH block-chain, it gets a
Unique, Traceable ID, that is linked to the artwork. (C.O.A.)
NFTs are created through Etherium Block-Chain
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THE ARTWORK BECOMES PART OF THE ID
AND
THE ID BECOMES PART OF THE ARTWORK
“THEY ARE ONE IN THE SAME”
► Crypto-Art gets a unique ID thanks to the block chain
NFTs are created through Etherium Block-Chain
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Ok cool so it gets a unique ID.. so what?
► Verifiable proof of ownership → Can be traced back through the ID
► Uniqueness and scarcity (Only one in the world) → Makes it valuable
► Linked to a Crypto Currency → Can get a monetary value attached to it
► Can be sold or auctioned
► Can give you royalties back
► Can be anything digital → Or digital (+)
► Extra perks!
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Important!► Downloading the “image”, “gif”, “wav”, “pdf”, etc…
Is not the same as downloading the NFT.
NFT
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EvolutionAnd some examples.
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Bitcoin► Colored Coins circa 2013.
► House
► Car
► Air miles
► Shares of a company
► Each coin could represent the cost of a physical Asset
► Example:
Through smartphone app
► Those assets “Colored coins” could be transferred /redeemed
through the bitcoin blockchain
I go to a electronics smart vending machine,
scan Qr with my smartphone, vending machine
sees I have a colored coin that represents the
cost of a pair of Beats headphones.
Vending machine dispenses headphones.
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Etherium► Smart contract functionality circa 2015.
► Explore concept of digital scarcity
► Programmable information inside the smart contract
► Breeding (cattributes)
► Associated value ($) with each Kitty
► Introduced concept of auctioning a digital contract► Basically an advanced Tamagotchi
► CryptoKitties circa 2017
► Example: www.cryptokitties.co/kitten-class/breeding/introduction
► Because your Kitty lives in the Blockchain, it has a value ($)
associated with it depending on the cost of ETH at the time.
For example, 1ETH was worth $301 USD on Oct 1, 2017
1ETH was worth $2.075 USD on Apr 9, 2020
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Examples► Practical Examples of NFTs
► Special edition
► CryptoKitties by DapperLabs
► CryptoPunks by LarvaLabs
► List of punks
► Punk 7804
► NBA TopShot by LarvaLabs
► Trading cards through ETH
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Examples► Practical Examples of NFTs
► MyCryptoHeroes by double jump.tokyo
► Block chain RPG
► Cryptovoxels by Nolan consulted Limited
► Vr NFT gallery
► Vr NFT gallery1
► Decentraland
► Vr Metaverse (Like Secondlife)
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Examples► Practical Examples of NFTs
► Laina (Overly attached Girlfriend) 200 ETH $414.000
► foundation.app/laina
► Chris Torres (NyanCat) 300 ETH $621.000
► foundation.app/NyanCat
► Beeple (Everydays: The First 5000 Days) 33.300 ETH $69’000.000
► niftygateway.com/profile/beeple► Christies Auction data
► Beeple’s Opensea wallet address
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Examples► Practical Examples of NFTs
► Gavin Shapiro (Flamingos)
► niftygateway.com/collections/gavinshapiro2
► Filip Hodas (Dead Memes)
► niftygateway.com/collections/hoodass
► Rafael Grassetti (GodOfWar)
► foundation.app/grassetti
► Collection
► Flamingos
► collection
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Other possibilities
► Music
► Documents
► Social media profiles / tweets
► Video game stuff (accessories/drops/loot/character builds/etc)
► Executables/programs/apps
► Anything digital really…
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Account setupSetting yourself up to be able to collect or create NFTs
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NFT Galleries
► Opensea.io
► SuperRare.co
► Foundation.app
► Niftygateway.com
► cryptovoxels.com
Requires a digital wallet
► Mintable.app
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Digital Wallet
1. Chrome / Firefox / Edge / iOS / Android
2. Metamask To store Crypto ETH aka “Digital wallet“1. (Chrome / Firefox) extension
3. Wyre / Coinbase To transfer from fiat to crypto (Gas fees)
https://metamask.io/
https://www.sendwyre.com
https://www.coinbase.com
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Metamask.iohttps://metamask.io/
https://youtu.be/YVgfHZMFFFQ
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Metamask.ioAccount setup how-to
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Metamask.ioHo to create and setup.
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Minting
► Opensea.io
► SuperRare.co
► Foundation.app
► Niftygateway.com
► cryptovoxels.com
Minting is the process of turning your artwork into an NFT, it requires a digital wallet.
(Metamask)
► Mintable.app
https://opensea.io/collection/ipulse
iPulse NFT gallery
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Future considerations/ discussions.
1. Ethical / Legal implications.
1. Taking someone else's work and calling it yours and monetizing
from it.
2. Taking someone else's work A and work B and putting it together
and calling it yours. Is it really yours?
For example when electronic music “mixing” came along,
same concept.
2. Environmental “Climate” implications
1. Minting NFT’s take processing power and therefore energy
consumption. So there is that. However, one can also say that
those computers would other wise be processing something else.
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Thank you!Go create some digital Art!. Have a cup of Joe, some good music and “happy little trees”
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QuestionsRaise your hand and I’ll send you a request to unmute yourself. Or use the chat to type.