Non-Fungible Tokens
2 years, 8 months ago

Non-Fungible Tokens

Live Law  

WHAT IS AN NFT? Opensea, Rarible, SuperRare and Nifty Gateway are some of the most common NFT Marketplaces where NFTs can be created, listed and traded. Creating the NFT Opensea allows users to create NFTs of various formats including images, videos, audio as well as three-dimensional models up to 100 MB in size. Since the artworks underlying the NFTs created by the AAA Team are digital photographs, they fall under the definition of an "artistic work" under Section 2 of the Copyright Act, 1957. Despite the various legal uncertainties plaguing NFTs, the AAA Team found the process of issuing NFTs to be very simple and straightforward, thanks to the efficiency of the enterprises operating NFT marketplaces and cryptocurrency wallets.

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History of this topic

Cryptocurrency market suffers significant drop as Bitcoin experiences 3.35% decline
1 year, 10 months ago

Cryptocurrency market suffers significant drop as Bitcoin experiences 3.35% decline

India TV News  

As of February 22nd, Bitcoin, which is the cryptocurrency with the largest market capitalization, saw a decline of 3.07% and was trading at $23,791.57. Now, Uniswap is allowing users to trade NFTs on its platform using its native tokens. To use Uniswap's new NFT trading feature, users must first connect their Ethereum wallets to the platform. They can then browse …

Treasury remains committed to NFT despite crypto crash
2 years, 5 months ago

Treasury remains committed to NFT despite crypto crash

The Telegraph  

Ministers are pressing on with plans to create a UK-backed non-fungible token, despite a crash in cryptocurrencies and the exit of key Treasury personnel backing the controversial project. A spokesman said: “We are firmly committed to putting the UK at the forefront of crypto-asset technology and innovation by capitalising on the freedoms gained by leaving the European Union.” Rishi Sunak, …

Confused About Which NFTs Are Virtual Digital Assets? Finance Ministry's CBDT Clears the Air
2 years, 5 months ago

Confused About Which NFTs Are Virtual Digital Assets? Finance Ministry's CBDT Clears the Air

News 18  

The Central Board of Direct Taxes, which is part of the Ministry of Finance’s revenue division, has said that only NFT trades without a concurrent sale of the underlying physical asset will be subject to the tax rates laid forth for virtual digital assets. In the notification, CBDT said: “The Central Government hereby specifies a token which qualifies to be …

Should Creators Consider Selling Their Art Online As NFTs?
2 years, 6 months ago

Should Creators Consider Selling Their Art Online As NFTs?

ABP News  

Non-fungible tokens, or NFTs, have been taking the world by storm, offering creators a unique and arguably better way to monetise their work. That can be an NFT that you can sell.” He added, “Now, suppose you create another drawing of an apple that looks similar but has an additional leaf at the top, then that would become another NFT.” …

Dutch police seize NFT's for the first time ever
2 years, 8 months ago

Dutch police seize NFT's for the first time ever

NL Times  

Police cybercrime investigators in Oost-Nederland seized cryptocurrency and non-fungible tokens as part of its investigation into the widespread trade in private data. It marks the first time that a Dutch investigative service seized NFTs, the police said in a statement. "Because NFTs represent value, they can be taken as the proceeds from criminal offenses, as normally happens with expensive cars …

NFTs Don’t Work the Way You Might Think They Do
2 years, 9 months ago

NFTs Don’t Work the Way You Might Think They Do

Wired  

It’s been impossible to avoid hearing about NFTs in recent months. The extremely technical nature of how NFTs, blockchains, and cryptocurrencies work means that it’s easy to simplify the explanation of the tech to the point of being misleading. NFTs Aren’t Authoritative Tokens of Ownership The most persistent misleading claim about NFTs is also the one that’s closest to being …

Non-fungible tokens: What is it and how does it work? Experts try to explain
2 years, 11 months ago

Non-fungible tokens: What is it and how does it work? Experts try to explain

India Today  

If you have read the news about Vodafone set to sell the world’s first-ever SMS as NFT then there are good chances that you are browsing to know what NFT is and why there is a sudden hype around it. NFT gives them a chance to showcase their work and make money from it,” Kashyap says as tries to convince …

What are NFTs and why is Bollywood going gaga over them
3 years, 1 month ago

What are NFTs and why is Bollywood going gaga over them

India Today  

Many in India are only beginning to get a grasp on cryptocurrencies like Bitcoin and Dogecoin. Designer Manish Malhotra, actor Sunny Leone, Vishal Malhotra, music producers Ritviz and Nucleya, all seem to be carrying the torch for NFTs in India. What we can understand right now is what these NFTs are, what value they hold in the online world and …

Salman Khan Joins NFT Craze: Here's How Bhai's Fans Can Become Owners of His Artwork
3 years, 2 months ago

Salman Khan Joins NFT Craze: Here's How Bhai's Fans Can Become Owners of His Artwork

News 18  

Bollywood actor Salman Khan has revealed that he is soon going to roll out his own Non-Fungible Tokens. For Salman, NFTs can be a profitable venture as he paints, has his money tied up in various TV and film production ventures, is associated directly with the Being Human chain and owing to his Bollywood celebrity status, his digital assets will …

NFTs Explained: What Is This Digital Asset That's Making So Many People Millionaires?
3 years, 2 months ago

NFTs Explained: What Is This Digital Asset That's Making So Many People Millionaires?

News 18  

There’s a lot of talk about NFTs these days. Even Twitter founder Jack Dorsey’s first ever tweet was sold for $2.9 million as an NFT earlier this year. However, NFTs can and have been created in sets like trading cards where there’s 50 or hundred of the same exact NFT that are up for sale. How to Create NFTs So …

What is NFT and Why it is Gaining Popularity
3 years, 4 months ago

What is NFT and Why it is Gaining Popularity

News 18  

In present times, there are plenty of cryptocurrencies like Bitcoin, Ethereum etc. In the digital world, NFTs are known for their quality of “one-of-a-kind” assets. The digital objects available on the internet like images, videos, music, text and even tweets, can be turned into an NFT through a unique process. They do it by creating a unique digital certificate and …

This New Self-Destructing Website Lets You Create a Unique NFT, But You Can't Tokenize It
3 years, 8 months ago

This New Self-Destructing Website Lets You Create a Unique NFT, But You Can't Tokenize It

News 18  

Want to join into the NFT gold rush, but can’t make art? ‘Tokenize This’ generates a unique URL that shows an image that isn’t very much different from some of the other NFT artworks being sold online. The creator of the website, Ben Grosser, explains it is “A generator of unique digital objects that can only be viewed once.” “Tokenize …

NFTs are Confusing Everyone, But the Newest Internet Token is Raking in the Memes
3 years, 9 months ago

NFTs are Confusing Everyone, But the Newest Internet Token is Raking in the Memes

News 18  

What is an NFT? The first NFT album was ‘Kings of Leon’s ‘When You See Yourself.’ After art and auction houses, news organizations and galleries So what really, really is an NFT? James Murphy, CEO of Future Fallout, writes that ‘just like a concert ticket symbolises the ownership of the space of a seat in the concert arena, and a …

Explained: What Is Non-Fungible Token aka NFT and Why Is It So Popular Suddenly?
3 years, 9 months ago

Explained: What Is Non-Fungible Token aka NFT and Why Is It So Popular Suddenly?

News 18  

Non-fungible tokens, a type of digital asset, have exploded in popularity this year, with NFT artworks selling for millions of dollars and musicians such as the Kings of Leon rock group embracing them for their latest album. While anyone can view the NFTs, the buyer has the status of being the official owner – a kind of digital bragging rights. …

What are NFTs: How to use NFT and how do they work
3 years, 9 months ago

What are NFTs: How to use NFT and how do they work

India Today  

Non-fungible tokens, or NFTs, are unique crypto assets. How are non-fungible tokens used: Non-fungible tokens can be used for digital assets or goods that are different from each other to prove their worth and rarity. How do NFTs work: Non-fungible tokens can be created on contract-enabled blockchains with non-fungible token tools and support. Non-fungible tokens and their smart contracts allow …

NFTs Boom as Collectors Shell Out to ‘Own’ Digital Art
3 years, 9 months ago

NFTs Boom as Collectors Shell Out to ‘Own’ Digital Art

Wired  

It started with CryptoKitties. Each image was associated with a unique string of digits—a cryptocurrency “non-fungible token,” or NFT—that could be traded on the Ethereum blockchain platform as a title deed granting the holder ownership of a particular kitty. Its end point is an auction that started on Thursday, in which a token associated with a digital collage of 5,000 …

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