WHEN I WAS at school, every few years there was a new collectable trend that was the talk of the playground. Whether it was Pogs, Beanie Babies or Pokémon cards, the outcome was always the same: after a flurry of interest, and prices going crazy, they ended up stuffed into the back of the cupboard. So it’s fascinating to see the same thing happening today—online—as the world is going crazy for NFTs.
NFTs are “non-fungible tokens”, and are designed to make collectables work on the internet. Built on top of the same technology that makes cryptocurrencies like Bitcoin work, if you own an NFT, it’s possible to use complex maths to prove that it belongs to you, and only to you. This means that even if files can be copied or shared, ultimately there is proof of who it really belongs to.
NFTs can, in theory, be created from any sort of a digital file, such as a song or a photograph. You could even turn an Excel spreadsheet into an NFT if you wanted to. But it’s in digital art where the idea has really taken off, as the internet has been swamped with thousands of NFT works, including the ubiquitous cartoon “Bored Ape” images that people are trading like rare Pokémon cards.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
EVERY SECOND COUNTS: TIPS TO WIN THE RACE AGAINST TIME
Do you want to save 1.5 seconds every day of your life? According to the dishwasher expert at the consumer organisation Choice, there’s no need to insert the dishwashing tablet into the compartment inside the door.
May Fiction
An escaped slave's perspective renews Huckleberry Finn and the seconds tick down to nuclear Armageddon in Miriam Sallon’s top literary picks this month
Wine Not
In a time of warning studies about alcohol consumption, Paola Westbeek looks at non-alcoholic wines, how they taste and if they pair with food
Train Booking Hacks
With the cost of train travel seemingly always rising, Andy Webb gives some tips to save on ticket prices
JOURNEY TO SALTEN, NORWAY, UNDER THE MIDNIGHT SUN
Here, far from the crowds, in opal clarity, from May to September, the sun knows no rest. As soon as it’s about to set, it rises again
My Britain: Cheltenham
A YEAR IN CHELTENHAM sees a jazz festival, a science festival, a classical music festival and a literature festival. Few towns with 120,000 residents can boast such a huge cultural output!
GET A GREEN(ER) THUMB
Whether you love digging in the dirt, planting seeds and reaping the bounty that bursts forth, or find the whole idea of gardening intimidating, this spring offers the promise of a fresh start.
Under The GRANDFLUENCE Suzi Grant
After working in TV and radio as an author and nutritionist, Suzi Grant started a blog alternativeageing.net) and an Instagram account alternativeageing). She talks to Ian Chaddock about positive ageing”
Sam Quek: If I Ruled The World
Sam Quek MBE is an Olympic gold medalwinning hockey player, team captain on A Question of Sport and host of podcast series Amazing Starts Here
Stand Tall, Ladies
Shorter men may be having their moment, but where are the tall women?
