Explaining NFTs As Simple as Possible in Under 60 Seconds #Shorts

While NFTs are a relatively new technology for many, the major groundwork for how NFTs function has existed and been used by people for a considerably decent amount of time. If you have ever bought a character skin in a game like Fortnite or Counter-Strike, you have essentially experienced what it is like to buy an NFT and why there is value in owning “digital goods”. The ability to have self-expression and “show-off” your cool skins to your friends are the very same appeals people have with NFTs. Not to mention all the real world benefits that will be attached to NFTs like free burritos from chipotle if you own the gold burrito NFT! #Shorts

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Gary Vaynerchuk is one of the world’s leading marketing experts, a New York Times bestselling author, and the chairman of VaynerX, a modern day communications company and the active CEO of VaynerMedia, a contemporary global creative and media agency built to drive business outcomes for their partners. He is a highly popular public speaker, and a prolific investor with investments in companies such as Facebook, Twitter, Tumblr, Venmo, Coinbase, Slack, and Uber. Gary is a board/advisory member of Bojangles’ Restaurants, MikMak, Pencils of Promise, and is a longtime Well Member of Charity:Water. He’s also an avid sports card investor and collector. He lives in New York City.

30 gedachten over “Explaining NFTs As Simple as Possible in Under 60 Seconds #Shorts”

  1. We as gamers want micro transactions to disappear, but Naah the non gamers are pushing that in down our throats with this fancy word “nfts”. Hopefully this trend dies soon and somehow I already see it happening with the defaming of meta.

  2. But it's not… 99% of those items he said are not NFTs. But they should be.

  3. At first I didn't understand what an NFT is. But as I got to study, there's reasons why this is regulated and why it can be useful.

    Non-fungible is easy to understand. You can't trade it. Fungible is tradable. One Bitcoin is equal to another bitcoin. $1 traded for $1 is still the same thing, making it fungible.

    A Mona Lisa Art and an Apple can not be fungible. Both have their said value and can't automatically be traded. Mona Lisa is valued based off of the hour of work, quality, cost, fees, and taxes it took to present it and form it to the public (modern society). An apple can be bought for the same price. You can grow apples, but you can't grow a Mona Lisa painting.

    So this is how to make NFT's sound easier to understand.

  4. An item, owned by more than 1 person at the same time isn’t a NFT…
    Example skins in games… you don’t solely own that skin…
    The NFT logic is stupid…
    The value of a NFT depends on silly factors…
    One of the stupidest factor can be “who owned that item previously”.
    Like how TF does it make the item better if it was owned by a celebrity…
    ppl be crazy…

  5. Nfys cool put them in you universe in some tiny ass box uhm nobody uses nuts anymore outside of the metaverse/mark zuckerbucks

  6. Nft is like a is "a golden burrito and if you have it it's free for life'? What? WTF you taking. Can't be more worthless explanation. Tell people why it was value and why they dumb monkey nft sold for crazy price. That would explain it.

  7. @garyvee please give me an example of nfts being applied to an age old industry like Agriculture

  8. Lol and the NFT market died like everyone knew it would.

  9. And in a year you'll be playing a better game and not care about the old game and the value of the thing you bought will be zero.

  10. Don’t care didn’t ask, stealing the deed to your house

  11. I have 7 collections and upload them one by one on Twitch every day. In one year, I uploaded 2500 and only sold 2. So… I'm starting to think you and everybody in the NFT world are just lucky and it's all just BS. but not giving up.

  12. I just failed my art exam!!!!!11!1!!
    That means my nfts are expensive because the uglier the art, the more expensive!!!

  13. The internet doesn’t make you stupid.
    It just exposes your stupidity to everyone else.

  14. Inaccurate explanation but it gets close enough that hopefully more people will start to get it.

  15. Never have i ever had a gorilla profile pic and bragged about it.

  16. That’s not what an NFT is lmao what the fuck is this 😂 You can tokenize video game skins so that players can have actual ownership of the skin, and possibly trade it or sell it for real $$$ instead of spending money in-game and receiving 0 ownership

  17. NFTs are basically just receipts. Think of it like buying a product, but just getting the receipt product. The receipt states you purchased it, but you don't physically have it.

  18. NFTs are basically just receipts. Think of it like buying a product, but just getting the receipt of it. The receipt states you've purchased said product, but you don't physically have it.

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