Story: Working with a startup client
In May 2022, I have an opportunity to work with a Metaverse business client(still ongoing). In June 2022, I am working with NFT related business client(still ongoing as well). I read all the documents which the client provides. I understand the concept, but I don’t understand how it works as a business.
A non-fungible token (NFT) is financial security consisting of digital data stored in a blockchain, a form of a distributed ledger. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. – Wikipedia
As a description, this is understandable. In the document, a client mentions that they solve OpenSea’s problem, but I don’t know clearly what is wrong with OpenSea.
OpenSea is the world’s first and largest web3 marketplace for NFTs and crypto collectibles. Browse, create, buy, sell, and auction NFTs using OpenSea today. – OpenSea.io
I searched the basics, what is a NFT?, and related technology of NFT.
NFT Explained In 5 Minutes | What Is NFT? – Non Fungible Token | NFT Crypto Explained | Simplilearn
©Simplilearn
In June 24 2022, 1 BTC = $27,323.68CAD. I feel that it looks like a FX(Foreign Exchange). Is it too late to participate?
What is attractive NFT? I don’t need digital art or someone’s tweet. Holding cryptocurrency when we can be afforded, then we will sell them a decade later. It sounds like an ordinal investment though.
What is OpenSea? The Marketplace For NFT Artwork
©How It Happened
When I read a client’s document, I found the word, OpenSea and Polygon. I heard these names in Bloomberg Technology, but I don’t know about them. I took a look OpenSea. I did not feel any value in these NFTs.
ETHEREUM vs POLYGON – Which Should You Choose for NFTs
©Aprilynne Alter
– Ethereum = blockchain (main chain)
Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. “Gas limit” refers to the maximum amount of gas (or energy) that you’re willing to spend on a particular transaction. – Investopedia
– Polygon = Ethereum add-on (side chain)
No gas fee, no action, less secure.
She looks like Gen-Z and adapts to the new technology. Smart!
Related websites
OpenSea is the world’s first and largest web3 marketplace for NFTs and crypto collectibles. Browse, create, buy, sell, and auction NFTs using OpenSea today.
Ethereum is a technology that’s home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It’s open to everyone, wherever you are in the world – all you need is the internet.
Polygon is a decentralised Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.
Coinbase is the easiest place to buy and sell cryptocurrency. Sign up and get started today.
Solana is a decentralized blockchain built to enable scalable, user-friendly apps for the world.
Conclusion: NFT = Commodity?
I expect that blockchain technology changes our life efficiently. NFT is one of usage, but I don’t have much curiosity right now. I don’t want to possess much stuff even digital in my life. I want to keep less stuff and keep flexibility. Anyway, I work with a client who involves in the crypto industry. So, I should know the basic knowledge.
Decentralized is a keyword of blockchain. I was wondering how these companies make money. After all, a transaction(or gas fee) costs a user. From an user standpoint, do we feel any difference between bank and cryptocurrency?
I cannot conclude my opinion. I don’t shut down the door to learning the trend. I am willing to learn the trend even shallow. Keep learning in life.
