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NFT

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  1. Create, sell, collect digital items secured with blockchain

    There is nothing stopping an artist from minting more art, and it will devalue their artwork. NFTs record the date they were minted, but on marketplaces like OpenSea it isn't really possible to tell when it was minted, and hence isn't really done as far as I have seen, especially if advertised as 'limited edition'. ERC-721 (NFTs) do not have a hard-cap limit on the total supply. Marketplaces like Rarible however...
  2. Ebay for cryptogoods. Buy and sell items on the blockchain.

    There is nothing stopping an artist from minting more art, and it will devalue their artwork. NFTs record the date they were minted, but on marketplaces like OpenSea it isn't really possible to tell when it was minted, and hence isn't really done as far as I have seen, especially if advertised as 'limited edition'. ERC-721 (NFTs) do not have a hard-cap limit on the total supply. Marketplaces like Rarible however...
  3. IPFS is the permanent web. A new peer-to-peer hypermedia protocol.

    The URI 99.999% of the time are stored on the InterPlanetary File System (IPFS), which is a decentralized peer-to-peer network that ensures that such content will not disappear so easily, if at all.
  4. Like DNS, but for Ethereum wallet addresses

    Imagine if the original Mona Lisa wasn't created physically, but instead digitally. Let us say that URI to the artwork in question is denoted X, and that anyone can manually point their web browser at X to see the original in all of its glory. Someone can also save X and create a direct copy X', and host it on some other web service. All original minted NFTs pointed to the original X (note that this original,...