NFT Guys, you must have heard the words NFT or Blockchain recently That is, Jack Dorsey is selling his first tweet, a lot of parties are selling digital artwork depicts. These are being sold through NFTs. Now, I’m talking about the NFT , not NEFT that is used in banking deals. Because NFT has emerged as an important word in the realm of technology. It is quite unique but still not many people know about this. So, let’s dive depth into the NFT or the Non-Fungible Tokens. And if you experience the video, punched like. And subscribe to the channel.You might feel peculiar to talk about NFT, but if you look at Blockchain implementation of which was Cryptocurrency or Bitcoin, just like that NFT is it’s second implementation. And the profit of this implementation is you can sell unique, expensive, valuable, rare and one of a kind things. What’s the significance of one of a kind? Its pretty simple. There’s only one article of a certain thing existing in the world. It means, the best interests of the a hundred bucks is a hundred horses, and if I bring to notes of 50 bucks each, they likewise quality a hundred bucks. But, There is only one Taj Mahal, in the whole world. There existed one the Mona Lisa painting made by Leonardo DaVinci. Although you can create a duplicate of that decorate, click its image, but there will be only one Mona Lisa. Just like there will be only one Taj Mahal. You is impossible to experience one India Gate, and one Gateway of India.There is only one portion of these things existing. To collect such materials and decide their ownership, NFT was drawn. That is, Non-Fungible Tokens. That conveys, we took a piece of art that is unique and then I earmarked a clue to that segment. That obliges the token a certificate of owned. Which conveys, whoever holds that token, is the rightful owner of that asset. That’ asset’ could be anything. It can be a song, it can be a painting someone shaped in MS Paint, or literally anything. And yes, this token is being stored in Blockchain. This is the best thing. What did they do? They took one thing and ascribed a digital clue to it. And then placed that token multitude digitally in Blockchain ledger. Basically, it is being stored just like Ethereum. They took a record just like Ethereum. But thing is the way the Blockchain runs, decides direction the ownership. I’ll try to explain it in easy speech. Imagine somebody took a painting, and named a token count to it, and collected it in the Blockchain’s ledger. And the nature Blockchain technology functions is Decentralized.Its multiple follows can be seen on variou computers all around the world. Which helps in defining that this particular artefact is assigned to this particular token. That is the basic concept. And its benefit is you can make peer-to-peer deals. That means you can transfer the ownership certificate from one person to the other. So, mostly it’s game is a lot like cryptocurrency, in short the method bitcoin or other cryptocurrency cultivates where it is only mentioned in the ledger which detail has how much cryptocurrency, its the same case here. Now, it would be mentioned that who is the owner of this particular token and the person or persons affiliated to the clue is the rightful owner of the artefact to which the token was assigned. That is the basic concept. It was developed because you had to go to a server in order to make a trade but now that middlemen server is no longer prevailing.And the people can trade with each other instantly. That was the basic concept. As of now it is a part of Ethereum blockchain, but there is a specific blockchain for NFT in drudgeries and will be available soon, maybe. But the most interesting thing is, that the people are taking it very seriously. People are buying different draws, digital wreak, digital art, or digital cover although you can see their photographs in busines but the owner of the real photograph will be decided by the token. Jack Dorsey, the founder of Twitter, sold the ownership of his first tweet. In these terms, a lot of parties are selling their artworks to other people. There can be some issues regarding it in future or maybe not. Neither I would recommend anyone to buy an NFT. Because this is a very different and strange thought, and a completely different thing. NFT was originally reached to be disposed of the’ middleman’ and help people craft things instantly with each other. Basically, it’s a lot like the barter system I made something which I want to sell it to you, and you will get all the rights to it, This is how NFT correlates with the Barter system.But its impact on the environment that is something we have to notice. For speciman, like we talked about Ethereum, its negative impact on the atmosphere, especially carbon emission is something that shouldn’t be ignored. Because we are all aware, that the action cryptocurrency is mined in Ethereum consume huge amounts of energy. This increases carbon release and it has a huge carbon footprint. And affects negatively on sort and environment. So, it is a very big question whether or not is it safe for the environmental issues. Other than that, the reason why it was attained was to save time and force to make a transaction. But Right now its under Ethereum and its electricity habit is too much. It is very interesting to note that NFT has a lot of positive but too a whole lot of negative impacts. Another thing to note is how much beings are investing in NFTs. An master referred Beeple Crap got his digital art sold for $ 69 million last week.That is a pretty big number. All that is still okay. But someone bought an age-old feline meme from 2011 for 0.5 million. People are doing very different kinds of things with NFTs there are a lot of different abstractions running in Non-Fungible token. So, it raised a different thing in the market, and now we have to wait and see how things turn up in the future. Even though people are interested in it now, but will it bide the same in future? And can you really render the certificate of possession through this? As we have seen a company gets their artefacts patented or copyrighted and they brace it in some situations but not all.So does it work in a standard way, and what about it’s legal issues in future? All this will make itself known in the future. And it was something aged, but it came into trend recently. But it is an interesting concept, and we are also seeing an interesting implementation of Blockchain. But we have to remember that it has a huge carbon footprint. And its negative impact on nature and climate is also very huge. And what do you guys think about NFTs do let me know in the comments. If you enjoy the video, then like it. Subscribe to the channel. Thank you for watching the video, I’ll see you in the next one. Goodbye !.