TECHNOLOGY

NFT: THE MOST VALUABLE CRYPTOCURRENCY TODAY

Welcome to the e-arts industry!

25.12.2021
BY JEMMA UTOMO
SHARE THE STORY

NFT or Non-Fungible Token is booming, especially for artists and digitech experts who follow the trends. It is a digital asset based on data units traded in an online marketplace. The transaction is using cryptocurrency. By using blockchain technology, NFT is different from bitcoin. Users can own NFT if they have digital ownership records of physical assets. 


Technically, NFTs are digital assets that represent various forms of assets in the real world, such as photo art, paintings, music, games and videos, and other creative works. All digital assets registered as NFTs have ownership tokens with unique identity codes, so they cannot be freely duplicated. 


Today, we still see many cases where Indonesian artists are underestimated. Their artworks will be easily accessed and hijacked by irresponsible people. With the NFT, the artists and their works can be more appreciated. Blockchain technology gives NFT the ability to certify digital assets that cannot be duplicated. NFTs can be tracked on the blockchain as separate proof of ownership of the copyright to the owner. 


Access to the NFT file is not limited to fellow NFT buyers. Whoever the buyer wants to buy the desired artwork is free to explore all the available artwork. Artists can claim their work as copyright and sell copies of their work as part of the royalties. NFT allows them to sell as many copies of their work as possible, and each copy is assigned a unique code. In the future, these cryptocurrencies will be converted into conventional currencies.

 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

A post shared by NFT (@nft)


Indonesia has its own NFT marketplace. The Superlative Secret Society (SuperlativeSS) is one of the works of the nation's children in the NFT sector. Although new, SuperlativeSS has grown into a large global community.


Its followers are still dominated by foreigners, but recently SuperlativeSS has been trying to expand its connections by holding events in the capital city with the mission of introducing NFT and its products to the Indonesian people. One of the first and largest NFT marketplaces and currently the most popular is called OpenSea.


Syahrini succeeded in making the world's first hijab NFT

Syahrini's NFT has been sold on the biggest crypto marketplace in the world, Binance. Titled "Metaverse Tour", it seems to be Syahrini's first step to enter the metaverse world. 


There are 18 thousand NFTs that can be purchased from December 14, 2021. These NFTs are categorized into three groups, there are #Huss-Huss-Sanah with 3,240 NFT #MajuMundurCantik 1,380 NFT, and the least #CetarMembahana 5 NFT.


Syahrini said on her Instagram that her first NFT was the result of a collaboration with NFT King Pro, Binance, and Anak Gaul South Jakarta. 


"I want to thank all those who support and join me in My Metaverse. My first NFT is now sold out in just a few hours after it was released," said Syahrini. 

 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

A post shared by NFT (@nft)


Syahrini said the price of one of her NFT, which has been sold, is 20 BUSD or almost $20 (around Rp 287 thousand). Syahrini seems not only to want to trade NFT on Binance but also wants to be active in the metaverse.


According to Binance, Syahrini, who has 35 million followers on Instagram, has announced that she will also do some activities in the metaverse, such as touring in BSC (Binance Smart Chain) games like in Glory Planet, RARA, XWG, and more. 


The term "metaverse" first emerged from science fiction writer Neal Stephenson in the novel Snow Crash, released in 1992. Metaverse became a trend today after Mark Zuckerberg changed the name Facebook to Meta. Zuckerberg describes the metaverse he created as a virtual environment that users can enter, more than just looking at the screen.


This Metaverse technology will involve a number of developments from a combination of virtual reality (VR) and several other technologies. The Metaverse technology presented by Meta is called a world without boundaries, where people can interact virtually with each other, have meetings, work, and play.


This virtual world can be accessed using virtual reality headsets, augmented reality glasses, smartphones, and several other devices. Quoted from the Associated Press, users can go to virtual concerts, travel online, and buy or try on digital clothes through a metaverse.


In addition, the metaverse is also referred to as one of the steps for change for the work-from-home system during the pandemic. Workers can meet their co-workers virtually instead of just looking at the screen during an online meeting with a video call.


In addition, there is also a Metaverse type that uses blockchain technology. In this type of metaverse, users can buy virtual land and other digital assets using cryptocurrencies like Syahrini's NFT. The Latest's Technology Analyst, Victoria Petrock, said this would involve various aspects of online life, such as shopping and social media.

 

 

#THE S MEDIA #Media Milenial #NFT #cryptocurrency