we heard the Garyvee is talking about ‘Tokenisation of Culture and it’s a big f****** deal’. You can check it out here from Real Vision
Why use NFTs? First of all, it’s ‘Non-fungible’ or unique, you cannot replace it with something else. Money is fungible, you can convert it or trade it back into, well yeah, money. Mona Lisa painting is Non-fungible, you cannot convert or trade it to another Mona Lisa, there is no another Mona Lisa. You can buy all the Mona Lisa t-shirt, poster, mugs, souvenirs BUT there is only 1 Mona Lisa. NFTs gives ownership of whatever work you create and THAT can’t be copied. You wouldn’t want your effort in creating something to be copied right? Yes, you can right-click and save the image or print as your wallpaper, but the ownership doesn’t belongs to you. Here in Pentas community we like to say that owning NFTs is like a ‘bragging rights’, ie. Morpheus is flexing: ‘This is NFT’s OG Cryptopunk and I own it. Here’s the contract address as a proof, thank you.’ NFTs store information inside the blockchain, a public ledger where no one can tamper with it. Once it is inside the block, it will be forever there for everyone to see. Blockchain is not geographical limiting, it’s borderless, it’s global. Let’s put that in perspective. An artist create something using he/she heritage, culture as a based, mint the ownership and place it in a borderless trillion dollar industry where flexing is a norm. Blockchain and decentralisation bringing the upper echelon of appreciating fine arts to the masses. Perpetual royalty, NFTs gives the original creator a percentage forever as long as the NFT is sold. For as long as there is a buy and sell transaction, doesn’t matter if it’s already pass hands 1000 times, the original creator will still get the percentage on each transaction. How does that sound? Conventionally or traditionally, when an artist create a masterpiece, they will have to share it with middlemen, ie. publication, marketing agency, auction house etc. But with NFTs, artist are in full control of their work.
Tuan Mulo create this sublime piece with his own style and narrative, it’s about ‘The Ibans’ or ‘Sea Dayaks’ native to the island of Borneo in South East Asia. This is a perfect example of how can a culture, a heritage be transform digitally and into something of a value.
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