LogFAQs > #958495288

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Topic	NFT of White Man being Auctioned will be, eh, Auctioned...
PunishedOni 09/28/21 11:33:10 AM #21:	Nichtcrawler X posted... I still need to understand the concept of NFTs first. You pay money for your wallet's ID to be next to a url (which currently points to an image or video) in a giant text file. It confers no legal ownership rights ReturnOfFa posted... I understand how virtual coin takes up resources, but I'm confused how NFTs take up resources. Isn't it just making a JPG to sell?? An nft is basically a cryptocurrency transaction with extra metadata (the url which currently points to the object you are "buying") so it had all the energy costs of a normal crypto currency transaction --- hi im chelsea ^__^ You have entered the lair of SOMA - the Sega Online Machine Agent. Turn back now, or prepare to be digitized! <cite>PunishedOni posted [p:958495288] in NFT of Whi... [t:79682146]...</cite> <quote>Nichtcrawler X posted... </cite> <quote>I still need to understand the concept of NFTs first.</quote>You pay money for your wallet's ID to be next to a url (which currently points to an image or video) in a giant text file. It confers no legal ownership rights ReturnOfFa posted... </cite> <quote>I understand how virtual coin takes up resources, but I'm confused how NFTs take up resources. Isn't it just making a JPG to sell??</quote>An nft is basically a cryptocurrency transaction with extra metadata (the url which currently points to the object you are "buying") so it had all the energy costs of a normal crypto currency transaction --- hi im chelsea ^__^ You have entered the lair of SOMA - the Sega Online Machine Agent. Turn back now, or prepare to be digitized!</quote> ... Copied to Clipboard!
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