Category: Technology

In recent years, Non-Fungible Tokens (NFTs) have taken the art world by storm. These unique digital assets have become the latest craze, with many artists, musicians, and celebrities creating and selling NFTs to fans and collectors. But where did NFTs come from, and how did they evolve into the phenomenon they are today?

What is an NFT?

The concept of NFTs can be traced back to the early days of the internet, where people started to create unique, digital collectibles such as virtual trading cards and in-game items. These items were often tied to online gaming platforms or social networks and were meant to be collected, traded, and sold.

However, it wasn’t until the rise of blockchain technology that NFTs really took off. In 2009, Bitcoin introduced the world to the concept of a decentralized, digital ledger called the blockchain, which could securely and transparently track the ownership of digital assets.

A Smart Contract Powers Every NFT

Fast forward to 2017, and the blockchain platform Ethereum introduced the concept of smart contracts, which allowed developers to create self-executing contracts that could automatically enforce the rules and regulations of a contract. This development paved the way for the creation of NFTs, as it allowed developers to create unique, digital assets that could be bought, sold, and traded just like physical assets.

Since then, NFTs have exploded in popularity, with more and more artists, musicians, and other creatives exploring the potential of this new technology. NFTs have been used to sell digital art, virtual real estate, and even tweets, with some NFTs selling for millions of dollars at auction.

At MarfaMeta, we regard the invention of the smart contract as the single greatest innovation that could exist for art collectors. The issue of provenance has been an eternal thorn in the side of collectors. How can the authenticity of the work be guaranteed? This was once a matter which profited forgery criminals and forensic scientists alike. Now, the provenance of an NFT is indisputable. The lineage of ownership is publicly available and permanently recorded on the blockchain.

How to Verify NFT Ownership and Provenance

Tracking the ownership from artist or gallery to the current owner is as easy as entering a couple of details into a blockchain-tracking website. On the Polygon chain, Polygonscan works well, is free, and is full of details regarding the NFT work and the underlying smart contract.

In conclusion, NFTs have come a long way since their early days as virtual collectibles. Today, NFTs are revolutionizing the way we think about ownership and value in the digital world, and they’re set to play a big role in the future of the art world and beyond. Whether you’re an artist, a collector, or simply someone interested in the future of technology, NFTs are definitely worth paying attention to.

In today’s digital world, the way we store, access, and share data has changed dramatically. From centralized data storage systems to decentralized ones, the evolution of data management has taken a new turn with the advent of IPFS (InterPlanetary File System).

IPFS is a decentralized, peer-to-peer file system that aims to replace the current internet’s HTTP protocol with a new, distributed method of sharing and storing information. It’s a new, more efficient, and more resilient way to share and access data. Unlike the current internet, where data is stored on centralized servers, IPFS uses a decentralized network of nodes to store and access data, making it more secure and resistant to censorship and downtime.

How IPFS Works

1. When you add a file to the IPFS network, it is divided into smaller pieces, called blocks, and given a unique identifier called a cryptographic hash.
2. The blocks are then distributed across the network of nodes. This means that multiple nodes can have copies of the same file, making it more resilient and less susceptible to data loss.
3. When you want to access a file, you request it by its hash. The IPFS network will then find the closest node with a copy of the file and retrieve it for you.

One of the biggest benefits of IPFS is that it can store and retrieve large files, such as video or audio files, much more efficiently than traditional methods. This is because IPFS allows you to retrieve the file from multiple nodes in parallel, rather than having to download the entire file from a single server.

Love May Not Be Forever, but IPFS is

Another advantage of IPFS is its ability to make content immutable, meaning that once a file is added to the network, it can never be altered or deleted. This makes it ideal for storing important documents and records, as well as for creating a permanent, tamper-proof archive of web pages and other content.

For example, Sotol and Rainbow’s primitivesRising collections are stored on IPFS. The immutable nature of the storage system is enticing for any art owner. Imagine if all art could be stored this way: never to change or be changed again!

New Advantages for All

IPFS has the potential to revolutionize the way we store, access, and share data on the internet. By providing a more efficient, resilient, and secure way to store and access data, IPFS has the potential to make the internet faster, more reliable, and more resistant to censorship and downtime.