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Another way to prevent being harmed by these technology is by educating people on the pros and cons of digital cloning. By doing so, it empowers each individual to make a rational decision based on their own circumstances. [49] Furthermore, it is also important to educate people on how to protect the information they put out on the Internet.
Crypto art has been around for over half a decade, but for many people outside of the crypto world, these digital assets, known as non-fungible tokens or NFTs, have seemingly come out of nowhere.
A cryptocurrency wallet is a device used to store and manage crypto holdings. It safeguards private keys, which are essential for accessing and controlling your coins.
A crypto wallet is a place where investors hold their cryptocurrency. It stores the virtual assets much like a traditional wallet holds cash. There are two types, a hot wallet and a cold wallet.
The first known "NFT", Quantum, [25] was created by Kevin McCoy and Anil Dash in May 2014. It consists of a video clip made by McCoy's wife, Jennifer. McCoy registered the video on the Namecoin blockchain and sold it to Dash for $4, during a live presentation for the Seven on Seven conferences at the New Museum in New York City.
The crypto art blockchain project was an inspiration for the ERC-721 standard for NFTs and the modern crypto art movement, which has since become a part of the cryptocurrency and decentralized finance ecosystems on multiple blockchains.
Crypto investor Justin Sun bought a duct-taped banana for $6.2 million in a Sotheby's auction. Sun ate the banana at a news conference where he compared the conceptual artwork to NFTs.
Pieces of digital art range from captured in unique displays and restricted from duplication to popular memes available for reproduction in commercial products. Repositories for digital art include pieces stored on physical media, galleries on display on websites, and collections for download for free or purchase.
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