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	<title>blockchain &#8211; Technology for Learners</title>
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	<title>blockchain &#8211; Technology for Learners</title>
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	<item>
		<title>Leveraging Technology for Effective Charity Marketing: A Digital Approach</title>
		<link>https://technologyforlearners.com/leveraging-technology-for-effective-charity-marketing-a-digital-approach/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=leveraging-technology-for-effective-charity-marketing-a-digital-approach</link>
		
		<dc:creator><![CDATA[Lucy Mitchell]]></dc:creator>
		<pubDate>Thu, 04 Apr 2024 21:50:53 +0000</pubDate>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Augmented Reality]]></category>
		<category><![CDATA[blockchain]]></category>
		<category><![CDATA[Virtual Reality]]></category>
		<guid isPermaLink="false">https://technologyforlearners.com/?p=10619</guid>

					<description><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2024/04/Charity-Marketing-min-150x150.png" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Charity Marketing" decoding="async" />In today&#8217;s digital age, technology plays a pivotal role in almost every aspect of our lives, including the way charities market themselves. Gone are the days when traditional methods like flyers and cold calling were the primary means of reaching potential donors.&#160; With the advent of sophisticated digital tools and platforms, charities now have a [&#8230;]]]></description>
										<content:encoded><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2024/04/Charity-Marketing-min-150x150.png" class="attachment-thumbnail size-thumbnail wp-post-image" alt="Charity Marketing" decoding="async" /><figure style="width:520px;height:350px;" class="wp-block-post-featured-image"><img fetchpriority="high" decoding="async" width="555" height="379" src="https://technologyforlearners.com/wp-content/uploads/2024/04/Charity-Marketing-min.png" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Charity Marketing" style="height:350px;object-fit:cover;" srcset="https://technologyforlearners.com/wp-content/uploads/2024/04/Charity-Marketing-min.png 555w, https://technologyforlearners.com/wp-content/uploads/2024/04/Charity-Marketing-min-300x205.png 300w" sizes="(max-width: 555px) 100vw, 555px" /></figure>


<p>In today&#8217;s digital age, technology plays a pivotal role in almost every aspect of our lives, including the way charities market themselves. Gone are the days when traditional methods like flyers and cold calling were the primary means of reaching potential donors.&nbsp;</p>



<p>With the advent of sophisticated digital tools and platforms, charities now have a plethora of innovative ways to connect with supporters and raise awareness for their causes. Let&#8217;s delve into some of the key technologies that are revolutionizing charity marketing.</p>



<h2 class="wp-block-heading"><strong>Social Media Platforms</strong></h2>



<p>Social media has emerged as a powerful tool for charities to engage with their audience on a more personal level. Platforms like Facebook, X/Twitter, Instagram, and LinkedIn allow organizations to share compelling stories, showcase their impact, and interact with supporters in real time. Through targeted advertising and influencer partnerships, charities can reach a wider audience and attract new donors who are passionate about their cause.</p>



<h2 class="wp-block-heading"><strong>Content Marketing</strong></h2>



<p>In the digital realm, compelling content reigns supreme, and charities are capitalizing on this by crafting engaging material that deeply connects with their audience. Whether it’s through blog posts, videos, infographics, or podcasts, charities employ diverse content formats to inform, inspire, and spur people into action. Through strategic optimization for search engines and social media algorithms, charities enhance their visibility and draw organic traffic to their online platforms.&nbsp;</p>



<p>In the process of expanding your audience in health and social care, collaborating with <a href="https://www.elevenagency.co.uk/" target="_blank" rel="noopener">Eleven Agency</a>, a renowned firm specializing in digital marketing strategies, can provide valuable insights and support to amplify your message effectively.</p>



<h2 class="wp-block-heading"><strong>Email Marketing Automation</strong></h2>



<p>Email continues to stand as one of the most potent communication channels for charities to cultivate relationships with donors and keep them up to date with their latest initiatives. With the help of <a href="https://optinmonster.com/31-best-email-marketing-automation-tools/" target="_blank" rel="noopener">email marketing automation tools</a> like Mailchimp, Constant Contact, and HubSpot, charities can segment their audience, personalize their messages, and send targeted campaigns based on donor preferences and behavior. This not only saves time and resources but also ensures that communications are relevant and timely.</p>



<h2 class="wp-block-heading"><strong>Crowdfunding Platforms</strong></h2>



<p>Crowdfunding platforms like GoFundMe, Kickstarter, and Indiegogo have democratized fundraising, allowing charities to tap into the power of collective generosity. By creating compelling campaigns and sharing them on social media, charities can mobilize supporters to donate to specific projects or causes. These platforms also provide valuable data and analytics insights that charities can use to optimize their fundraising strategies and improve donor engagement.</p>



<h2 class="wp-block-heading"><strong>Virtual Reality (VR) and Augmented Reality (AR)</strong></h2>



<p>Immersive technologies like VR and AR have the potential to revolutionize charity marketing by providing donors with immersive experiences that evoke empathy and inspire action. Charities can use VR to transport donors to the front line of their work, allowing them to see the impact of their donations firsthand. Similarly, AR can be used to create interactive experiences that educate people about social issues and encourage them to get involved.</p>



<h2 class="wp-block-heading"><strong>Blockchain Technology</strong></h2>



<p>Blockchain technology offers unprecedented transparency and security in charity transactions, addressing concerns about fraud and mismanagement. By leveraging <a href="https://www.techtarget.com/searchcio/feature/Top-9-blockchain-platforms-to-consider" target="_blank" rel="noopener">blockchain-based platforms</a>, charities can provide donors with real-time visibility into how their donations are being used, from the moment they’re received to the impact they create on the ground. This fosters trust and accountability, which are crucial for long-term donor relationships.</p>



<p>In conclusion, technology has transformed the way that charities market themselves, enabling them to reach wider audiences, engage supporters more effectively, and raise funds more efficiently. By embracing digital tools and platforms, charities can amplify their impact and drive positive change in the world.&nbsp;</p>



<p>However, it&#8217;s essential to approach technology implementation thoughtfully, keeping the needs and preferences of donors at the forefront. Ultimately, the goal of charity marketing technology should be to foster meaningful connections and inspire people to contribute to creating a better, more equitable world.</p>
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		<item>
		<title>Best Blockchain Worth Considering in 2023</title>
		<link>https://technologyforlearners.com/best-blockchain-worth-considering-in-2023/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=best-blockchain-worth-considering-in-2023</link>
		
		<dc:creator><![CDATA[Will Fastiggi]]></dc:creator>
		<pubDate>Wed, 01 Feb 2023 16:22:31 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[blockchain]]></category>
		<category><![CDATA[Ethereum]]></category>
		<guid isPermaLink="false">https://technologyforlearners.com/?p=6151</guid>

					<description><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2023/02/Ethereum-min-150x150.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="" decoding="async" />Blockchains are a pretty complex topic. There&#8217;s a lot to learn before you can say you know anything at all about them, and even more to learn before you can say you&#8217;re an expert on them. Thankfully, though, they are also quite interesting, and there are many resources out there that can help you understand [&#8230;]]]></description>
										<content:encoded><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2023/02/Ethereum-min-150x150.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="" decoding="async" />
<figure class="wp-block-image aligncenter is-resized"><img decoding="async" src="https://lh5.googleusercontent.com/bUWnD7QFke9-k2SFZezdyNH6WKjlwwdMHkRjqGbe7n5TnxbWMPf9vTVNpiN9xeEzpRQQFgr3xByblPobWmaDHlKKIG9rSwkb2PD4OBfNWDndIinEwoAQKkYYqF9DTrMY50wrzkEjkwHgus49WgI5lw" alt="" width="507" height="285"/></figure>



<p>Blockchains are a pretty complex topic. There&#8217;s a lot to learn before you can say you know anything at all about them, and even more to learn before you can say you&#8217;re an expert on them. Thankfully, though, they are also quite interesting, and there are many resources out there that can help you understand the basics of what they are and how they work.&nbsp;</p>



<p>Blockchain is one of the most revolutionary technologies that has emerged in recent years. Everyone from governments, to banks, to startups are exploring how this technology can be used to improve efficiency and security. While the full impact of blockchain is still being explored, there are a number of blockchains which have emerged as frontrunners in the space.</p>



<p>Blockchains are distributed ledgers which record transactions in a publicly distributed ledger. The first and most famous blockchain is the Bitcoin blockchain, but there are many others that have been implemented as well.&nbsp;</p>



<p><strong>What is a Blockchain?</strong></p>



<p>The Blockchain was created to track cryptocurrency transactions. It is a peer-to-peer network of nodes that processes and confirms transactions. There is no central authority or government regulation. It&#8217;s all done through a network of miners (people who run high-performance computers) who compete against each other to solve complex mathematical problems using the nodes on their systems. When a problem is solved, a block of cryptocurrency is given out as an incentive to the miner who solved the problem.</p>



<p>To understand which blockchains are the most popular and widely used, you must understand what makes one blockchain more desirable than another. In order to do this, you must first understand how blockchains operate.&nbsp;</p>



<p>However, not all blockchains are cryptocurrencies, and not all cryptocurrency blockchains have tokens that can be exchanged for goods and services (like Bitcoin or Ethereum).&nbsp;<a href="https://www.kucoin.com/trade/XRP-USDT" target="_blank" rel="noopener">XRP USDT</a>&nbsp;is one of the unique ones on this list because it&#8217;s based on an existing blockchain (Ripple), yet has no use case that&#8217;s explicitly tied to an existing product or service.&nbsp;</p>



<p>Rather, Ripple&#8217;s goal is to act as a bridge between any other existing blockchain and its own technology in order to allow for transactions between them.&nbsp;</p>



<p><strong>Top Blockchains in 2023</strong></p>



<p>Let&#8217;s take a look at some of the more popular blockchains that you may hear about in the near future.</p>



<p><strong>Ethereum</strong></p>



<p><a href="https://www.kucoin.com/price/ETH" target="_blank" rel="noopener">Ethereum</a>&nbsp;is a blockchain with a built-in Turing-complete programming language. This means that it can run applications and code, making it the first decentralized computer. In addition to being able to run applications, Ethereum also provides a cryptocurrency token called ether.&nbsp;</p>



<p>By having this built-in programming language and cryptocurrency, Ethereum is very flexible and capable of many different use cases. In fact, the technology behind Ethereum has been able to spawn hundreds of other cryptocurrencies and platforms that can do everything from providing games to serving as an ICO platform.</p>



<p><strong>IBM Blockchain</strong></p>



<p>IBM is a blockchain company that provides enterprise-level services for creating and managing blockchain networks. IBM is currently working on a variety of different blockchain solutions for various enterprises—the full list can be found here . The list includes a significant number of large corporations, which means IBM is creating some truly innovative and promising products that could be implemented in many industries.</p>



<p>IBM Blockchain Platform delivers a complete solution offering for permissioned blockchain networks with tools for developers, system administrators, operations management, monitoring, compliance, performance tuning and analytics.&nbsp;</p>



<p><strong>Hyperledger Fabric</strong></p>



<p>Hyperledger Fabric extends blockchain technology beyond cryptocurrency and payments by offering new features that allow users to customize their deployment based on their specific business or organizational needs.</p>



<p>Hyperledger Fabric is one of the most popular blockchain frameworks for enterprise use, with a combination of performance, modularity, and confidentiality that make it stand out from other similar projects. Its modular architecture allows organizations to extend it with plug-ins to suit their needs and allows them to easily build applications on top of it. While it was designed for enterprises, it can also be used to develop smart contracts, oracles and other blockchain applications.</p>



<p><strong>Hyperledger Sawtooth</strong></p>



<p>Hyperledger Sawtooth is an enterprise blockchain platform for building, deploying, and running distributed ledgers. It comes with a REST API, command line tools and a modular architecture that enables pluggable consensus and privacy systems. The platform is designed to handle high transaction volume as well as accommodate complex smart contracts.</p>



<p>Hyperledger Sawtooth was mainly developed by Intel in collaboration with the Hyperledger project community. Released in 2018, it is available under the Apache 2.0 open source license.</p>



<p><strong>R3 Corda</strong></p>



<p>R3 Corda is a blockchain that allows companies to create their own blockchain networks by using a distributed ledger. This blockchain is designed with business in mind, being able to connect to other blockchain technologies and allowing companies to use it as a platform to build apps on top of it.&nbsp;</p>



<p>Being able to connect to other blockchains makes it a good choice for companies who want to participate in cryptocurrencies like Bitcoin or Ethereum and trading pairs like ETH/BTC and&nbsp;<a href="https://www.kucoin.com/trade/XRP-USDT" target="_blank" rel="noopener">XRP/USDT</a>&nbsp;but also want to keep their data separated from the other blockchain.</p>



<p><strong>Tezos</strong></p>



<p>Tezos is a network that contains rules, or protocols, for how to govern itself. It was built by the nonprofit Tezos Foundation and released in September 2017. The new rules are written as smart contracts on the network, as opposed to being enforced by miners or human governance. This makes it decentralized and censorship-resistant.&nbsp;</p>



<p>In addition to its main use cases of securing transactions and data, the technology is also being used to create decentralized applications (DApps) and Internet-of-Things (IoT) platforms.</p>



<p><strong>EOSIO</strong></p>



<p>EOSIO is a free, open-source software that provides a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This platform is designed for businesses to build blockchain applications in a way similar to web-based enterprises. EOSIO has been adopted by some high profile companies such as BitFinex and many others.</p>



<p>It&#8217;s based on the Ethereum platform, so it has a lot of its functionality built in already, including smart contracts, but it&#8217;s also highly customizable, which makes it easy to create apps with specific needs or applications with their own custom rules.&nbsp;</p>
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			</item>
		<item>
		<title>NFTs Simply Explained</title>
		<link>https://technologyforlearners.com/nfts-simply-explained/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=nfts-simply-explained</link>
					<comments>https://technologyforlearners.com/nfts-simply-explained/#respond</comments>
		
		<dc:creator><![CDATA[Will Fastiggi]]></dc:creator>
		<pubDate>Wed, 19 Jan 2022 15:33:20 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Education]]></category>
		<category><![CDATA[Async Art]]></category>
		<category><![CDATA[BakerySwap]]></category>
		<category><![CDATA[Beeple]]></category>
		<category><![CDATA[blockchain]]></category>
		<category><![CDATA[cryptocurrencies]]></category>
		<category><![CDATA[CrytoKitties]]></category>
		<category><![CDATA[digital assets]]></category>
		<category><![CDATA[Enjin Marketplace]]></category>
		<category><![CDATA[Ethereum]]></category>
		<category><![CDATA[Everydays – The first 5000 days]]></category>
		<category><![CDATA[Flow]]></category>
		<category><![CDATA[Foundation]]></category>
		<category><![CDATA[fungibility]]></category>
		<category><![CDATA[Jack Dorsey]]></category>
		<category><![CDATA[KnownOrigin]]></category>
		<category><![CDATA[MakersPlace]]></category>
		<category><![CDATA[Metarift]]></category>
		<category><![CDATA[MythMarket]]></category>
		<category><![CDATA[NFT]]></category>
		<category><![CDATA[Nifty Gateway]]></category>
		<category><![CDATA[Non-fungible token]]></category>
		<category><![CDATA[OpenSea]]></category>
		<category><![CDATA[Pak]]></category>
		<category><![CDATA[Polkadot]]></category>
		<category><![CDATA[Portion]]></category>
		<category><![CDATA[Rarible]]></category>
		<category><![CDATA[recreational investing]]></category>
		<category><![CDATA[Sina Estav]]></category>
		<category><![CDATA[smart contracts]]></category>
		<category><![CDATA[SuperRare]]></category>
		<category><![CDATA[Tezos]]></category>
		<category><![CDATA[Tron]]></category>
		<category><![CDATA[Twitter]]></category>
		<category><![CDATA[Wax]]></category>
		<guid isPermaLink="false">http://technologyforlearners.com/?p=3630</guid>

					<description><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-150x150.jpeg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="NFTs text image" decoding="async" />What are NFTs? An NFT stands for a non-fungible token.&#160; (“Non-fungible” like a one-of-a-kind piece of artwork means that it is unique and cannot be replaced.)&#160; NFTs are digital collectibles for the modern age that represent a wide range of assets (JPEGs, GIFs, tweets, songs, computer games).&#160; Despite their rather abstract concept, NFTs are indeed [&#8230;]]]></description>
										<content:encoded><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-150x150.jpeg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="NFTs text image" decoding="async" />		<div data-elementor-type="wp-post" data-elementor-id="3630" class="elementor elementor-3630" data-elementor-post-type="post">
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<h2><strong>What are NFTs?</strong></h2>
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<p></p>
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<p>An NFT stands for a <a href="https://www.moonpay.com/learn/nft" target="_blank" rel="noopener">non-fungible token</a>.  (“Non-fungible” like a one-of-a-kind piece of artwork means that it is unique and cannot be replaced.)  NFTs are digital collectibles for the modern age that represent a wide range of assets (JPEGs, GIFs, tweets, songs, computer games).  Despite their rather abstract concept, NFTs are indeed assets and they make real money.  As with all collectables, the rarer people consider the item to be, the more they are willing to pay.</p>
<p> </p>
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<p>Although any digital asset can arguably be “owned” insofar as one might right click and save an image, for example, this only makes a copy.  A true collector will only want the original.</p>
<p> </p>
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<p>Digital assets that acquire NFT status are originals – not copies, and they can be proven as such.  They have an electronic fingerprint by being attached to a digital token that qualifies them as the original item.  The non-fungible token on a blockchain thus points to a digital asset of value that a buyer or collector could cherish.</p>
<p> </p>
<p></p>
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<p>This is what makes NFTs so special – the historical problem of copying and thus counterfeiting original art is solved – as long as the investor does not mind owning an asset that is 100% digital.  By providing an indelible ledger – with transactions automatically written and recorded – Blockchain technology (to be explained shortly) ensures all NFTs are originals.</p>
<p> </p>
<p></p>
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<p><a href="https://technologyforlearners.com/nfts-simply-explained/first-ever-tweet/" rel="attachment wp-att-363"><img decoding="async" class="aligncenter size-medium wp-image-3631" src="https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet-300x127.jpeg" alt="first-ever tweet" width="300" height="127" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet-300x127.jpeg 300w, https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet-1024x436.jpeg 1024w, https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet-330x140.jpeg 330w, https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet-690x293.jpeg 690w, https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet-1050x447.jpeg 1050w, https://technologyforlearners.com/wp-content/uploads/2022/01/first-ever-tweet.jpeg 1188w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
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<p>For example, the first-ever tweet on Twitter shown here was sold to Sina Oracle, the CEO of Bridge Oracle for 2.9 million dollars.  Although anyone can easily view this tweet online, Sina Estav now owns the NFT associated with that tweet as “signed and verified” by co-founder and former CEO of Twitter, Jack Dorsey.  In other words, Sina Estav’s ownership of the first ever tweet is evidenced with a unique data signature attached to it – giving Estav exclusive “bragging rights”.</p>
<p> </p>
<p></p>
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<p>Provided that a digital work becomes collectible and tradable, it is possible for creators to make lifetime commissions from the NFTs produced while still retaining the copyrights and reproduction rights for any work produced.  This is because of so-called ‘smart contracts’ which ensure the seller gets paid automatically when their NFTs switch hands to the new owner.</p>
<p> </p>
<p></p>
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<p>NFTs would have no value and zero spending power without a digital record known as the blockchain.</p>
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<h2><strong>What are blockchains?</strong></h2>
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<p>A blockchain is a public ledger which records every single transaction that takes place on it.  As all transactions on the blockchain are public and viewable, the ledger provides an indelible record and does not need an accountant to oversee the numbers.</p>
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<p><a href="https://technologyforlearners.com/nfts-simply-explained/blockchain/" rel="attachment wp-att-3632"><img loading="lazy" decoding="async" class="aligncenter size-medium wp-image-3632" src="https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-300x224.png" alt="blockchain" width="300" height="224" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-300x224.png 300w, https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-1024x767.png 1024w, https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-330x247.png 330w, https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-690x516.png 690w, https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-1050x786.png 1050w, https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain-774x580.png 774w, https://technologyforlearners.com/wp-content/uploads/2022/01/blockchain.png 1280w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
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<p><a href="https://technologyforlearners.com/nfts-simply-explained/blockchain/" rel="attachment wp-att-3632"> </a></p>
<p> </p>
<p>A <a href="https://www.moonpay.com/learn/blockchain" target="_blank" rel="noopener">blockchain</a> has an “auto-leger” aspect which enables people to make business transactions from anywhere for anything without providing any sensitive information like names and credit card information.  This anonymity afforded, and the consequent protection from theft, makes cryptocurrency and NFTs very appealing.</p>
<p> </p>
<p><a href="https://technologyforlearners.com/nfts-simply-explained/blockchain/" rel="attachment wp-att-3632"> </a></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>It is impossible to create a counterfeit NFT because the record of the NFT is indelibly displayed on the blockchain.  Any NFT can be looked up and verified on the blockchain.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>The Internet has thus created a way of making a digital asset valuable by ensuring that the asset cannot be replicated.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h2><strong>A few noteworthy examples of NFTs:</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h3><em>Metarift</em></h3>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p><a href="https://technologyforlearners.com/nfts-simply-explained/metarift/" rel="attachment wp-att-3633"><img loading="lazy" decoding="async" class="aligncenter size-medium wp-image-3633" src="https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift--300x300.jpeg" alt="metarift" width="300" height="300" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift--300x300.jpeg 300w, https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift--150x150.jpeg 150w, https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift--330x330.jpeg 330w, https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift--690x690.jpeg 690w, https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift--580x580.jpeg 580w, https://technologyforlearners.com/wp-content/uploads/2022/01/Metarift-.jpeg 1000w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Metarift is a looping video GIF showing a group of reflective spheres cocooned within an infinity symbol.  Created by the artist who goes by the pseudonym, Pak, this NFT sold for $904,413.</p>
<h3> </h3>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<h3></h3>
<h3><em>Everydays – The first 5000 days</em></h3>
<p> </p>
<h3></h3>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p><a href="https://technologyforlearners.com/nfts-simply-explained/everydays_the_first_5000_days/" rel="attachment wp-att-3634"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-3634" src="https://technologyforlearners.com/wp-content/uploads/2022/01/Everydays_the_First_5000_Days.jpeg" alt="Everydays" width="270" height="270" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/Everydays_the_First_5000_Days.jpeg 270w, https://technologyforlearners.com/wp-content/uploads/2022/01/Everydays_the_First_5000_Days-150x150.jpeg 150w" sizes="(max-width: 270px) 100vw, 270px" /></a></p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>The artist, Beeple, made a collage of digital art (one for every day since May 2007) called, Everydays – The first 5000 days.  The NFT associated with this digital artwork sold for over $69 million.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h3><em>CrytoKitties</em></h3>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p><a href="https://technologyforlearners.com/nfts-simply-explained/cryptokitties/" rel="attachment wp-att-3635"><img loading="lazy" decoding="async" class="aligncenter size-medium wp-image-3635" src="https://technologyforlearners.com/wp-content/uploads/2022/01/CryptoKitties-300x156.jpeg" alt="CrytoKitties" width="300" height="156" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/CryptoKitties-300x156.jpeg 300w, https://technologyforlearners.com/wp-content/uploads/2022/01/CryptoKitties.jpeg 310w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
<p></p>
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<p><a href="https://technologyforlearners.com/nfts-simply-explained/cryptokitties/" rel="attachment wp-att-3635"> </a></p>
<p> </p>
<p>Representing a series of NFTs worth millions of dollars, a CrytoKitty is unique and can be “bred” with others, leading to the creation of new kitties containing unique digital DNA.  The CrytoKitties series became so popular in 2017 that the Ethereum blockchain, which stored these NFTs, was temporarily brought to a halt.</p>
<p> </p>
<p><a href="https://technologyforlearners.com/nfts-simply-explained/cryptokitties/" rel="attachment wp-att-3635"> </a></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h2><strong>What are the different parts of an NFT?</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Every non-fungible token consists of two parts.  There is the token itself that is stored on the blockchain, and then there is its associated asset, whether it is a piece of digital artwork, a video or any other type of digital asset.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>Unlike cryptocurrencies, NFTs are defined by their unique properties rather than any innate value.  The value of NFTs, as with any collectible, is decided by what people are willing to pay for them.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>It is the token and not the digital asset, that determines the uniqueness of the NFT.  Likewise, it is the NFT, not the digital asset, that is stored and indelibly recorded on the blockchain.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>It is possible, however, that an unscrupulous person could mint a copyrighted digital asset as an NFT and sell it.  If you were to buy such an NFT, and the government later seized the digital asset under copyright law, your NFT on the blockchain would be of no use or value.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h2><strong>What does ‘fungibility’ mean?</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Fungibility refers to an item’s uniqueness or lack thereof.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>A fungible item can be replaced by another identical item.  For example, a one-dollar bill is fungible because it can simply be replaced with another one-dollar bill – irrespective of when that dollar bill was printed.  Likewise, any cryptocurrency is fungible; Bitcoin is fungible because one Bitcoin always equals one Bitcoin.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Each NFT is unique – there is not anything like it anywhere in cyberspace, the cloud, or in local storage.  This is thanks to the digital signature assigned to it on the blockchain.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h2><strong>Where to buy and invest in NFTs?</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>A key point to understand is that there is a difference between an NFT marketplace and the role that the blockchain plays for NFTs.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Where the NFT marketplace is a one-stop shop to buy, sell and display your NFTs, a blockchain is basically the database that records all transactions taking place in this shop.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>The list of NFT marketplaces is continually growing.  Some of the most well-known NFT marketplaces include: <a href="https://niftygateway.com/" target="_blank" rel="noopener">Nifty Gateway</a> (popular with celebrities), <a href="https://superrare.com/" target="_blank" rel="noopener">SuperRare</a> (renowned for exclusivity), <a href="https://async.art/" target="_blank" rel="noopener">Async Art</a> (for programmable art), <a href="https://makersplace.com/" target="_blank" rel="noopener">MakersPlace</a> (great for collaboration), <a href="https://opensea.io/" target="_blank" rel="noopener">OpenSea</a> (known for its variety of NTFs), <a href="https://rarible.com/" target="_blank" rel="noopener">Rarible</a> (community-owned), <a href="https://foundation.app/" target="_blank" rel="noopener">Foundation</a> (with a mission to constantly innovate art), <a href="https://myth.market/" target="_blank" rel="noopener">MythMarket</a> (gaming-focused), <a href="https://www.bakeryswap.org/#/home" target="_blank" rel="noopener">BakerySwap</a> (an NFT supermarket and crypto hub), <a href="https://knownorigin.io/" target="_blank" rel="noopener">KnownOrigin</a> (focusing on art-centric authenticity), <a href="https://enjin.io/products/marketplace" target="_blank" rel="noopener">Enjin Marketplace</a> (strong game presence using its own blockchain) and <a href="https://portion.io/" target="_blank" rel="noopener">Portion</a> (makes it possible to manage physical and digital collections in one place).</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>All of these marketplaces offer a page for minting new NFTs and this process is just as straightforward as uploading a picture to the Internet and adding a caption.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<h2><strong>How do you buy or create NFTs?</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>You must start with a crypto wallet for your NFTs and profits to live in.  It is not possible to purchase cryptocurrency or NFTs without having some kind of crypto wallet.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>A crypto wallet holds proof of your digital cash as well as storing the public and private keys required to buy any cryptocurrency or NFT, providing digital signatures to authorise each transaction.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p><img loading="lazy" decoding="async" class="aligncenter size-medium wp-image-3636" src="https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-300x200.jpeg" alt="Crypto_Wallet" width="300" height="200" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-300x200.jpeg 300w, https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-1024x682.jpeg 1024w, https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-330x220.jpeg 330w, https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-296x197.jpeg 296w, https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-690x460.jpeg 690w, https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-1050x700.jpeg 1050w, https://technologyforlearners.com/wp-content/uploads/2022/01/Crypto_Wallet-869x580.jpeg 869w" sizes="(max-width: 300px) 100vw, 300px" /></p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Just as there are various blockchains, there are many different wallets, and they are not all compatible with each other or the marketplaces.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>These wallets that interact with the blockchain to enable transactions can take the form of an online app, website or even physical device that you carry around with you.  The priority with these wallets is to protect your keys the same way you would protect your passwords, since these keys are what allow you to buy or trade your cryptocurrency or NFTs.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h2> </h2>
<h2><strong>What blockchains are there?</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h3><a href="https://ethereum.org/en/" target="_blank" rel="noopener"><em>Ethereum</em></a></h3>
<p>Ethereum is where NFTs were born.  More than just a blockchain, Ethereum is a solid development platform.  However, the technology Ethereum uses is outdated and does not handle scaling very well.  Ethereum was brought to a screeching halt, for example, by the mass buying and selling of CrytoKitties.  There are also concerns about its energy efficiency; TechCrunch pointed out in March 2021 that each NFT transaction burns as much energy as two American households in a single day.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<h3><a href="https://www.onflow.org/" target="_blank" rel="noopener"><em>Flow</em></a></h3>
<p>Having learnt from Ethereum’s mistakes, Flow has very fast transactions which are also low cost.  Specifically built with NFTs in mind, especially those to do with games, Flow also enables developers to create applications called dApps.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h3><a href="https://on.wax.io/wax-io/" target="_blank" rel="noopener"><em>Wax</em></a></h3>
<p>Wax is the blockchain most focused on video games and virtual worlds.  This blockchain prides itself as having a carbon-neutral system.  In their own words, Wax ‘don’t need supercomputers to wage an energy-sucking battle to complete a single transaction. It’s a lean, green NFT minting machine.’</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h3><a href="https://tron.network/" target="_blank" rel="noopener"><em>Tron</em></a></h3>
<p>Unlike most blockchains, which are confined to the use of certain countries, Tron is international, as art its users.  The Tron blockchain ecosystem allows users to freely publish, store, and own data.</p>
<h3> </h3>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<h3></h3>
<h3><a href="https://polkadot.network/" target="_blank" rel="noopener"><em>Polkadot</em></a></h3>
<p>Polkadot has a mission to build bridges between multiple blockchains.  This means, regardless of which cryptocurrency you use or which blockchain you use to mint NTFs, you can exchange information and transactions across independent blockchains.</p>
<p> </p>
<h3></h3>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h3><a href="https://tezos.com/" target="_blank" rel="noopener"><em>Tezos</em></a></h3>
<p>Tezos is as secure as Ethereum but uses a fraction of the energy processing NFTs.  Tezos has a lively community and a very high NFT engagement in all areas of buying, selling, minting and trading.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>While each blockchain tends to be its own universe, which is closed to the users of other systems, any of these examples provided are good options for getting into the NFT scene.  You simply need to decide the sort of people you would like to do business with (e.g., artists or gamers), your preferred cryptocurrency, the type of wallet you intend to use, and ensure the NFTs themselves are all compatible.</p>
<p> </p>
<h2> </h2>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<h2></h2>
<h2><strong>Why invest in NFTs?</strong></h2>
<p> </p>
<h2></h2>
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<p></p>
<p> </p>
<p>The demand for NFTs is driven, in the first instance, by collectors.  The opportunity to own anything that is one of a kind has always been regarded as valuable to some extent.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>Artists themselves are also drawn to the world of NFTs.  In fact, NFTs can be seen to have originated with the need of artists to protect themselves and their work from theft and plagiarism.</p>
<p> </p>
<p></p>
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<p></p>
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<p>Previously, artists’ work did not have a fraction of the reach that their artwork had, and there was no control over who shared their work – this limited the monetary compensation an artist might have received had their work received the credit was due.  The digital world thus needed to change in order to give legal rights to artists as well as a say in how their artwork could be used.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>Giving an artist’s work a unique means of identification, by connecting the artwork to a blockchain, an artist can see everywhere his or her artwork goes and, most importantly, it can be traced back to its origin.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>Another reason people have been attracted to NFTs is because of the recent phenomenon known as ‘recreational investing’.  For those with time on their hands and money to spend, NFTs represent an entertaining way to spend money.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<h2><strong>Important Points to Consider Before Investing in NFTs</strong></h2>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>The NFT world is currently highly unregulated – which creates both opportunities (conditions are ripe for relatively easy money to be made) as well as potential problems (there are plenty of dubious sales pitches).</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p><a href="https://technologyforlearners.com/nfts-simply-explained/nfts/" rel="attachment wp-att-3637"><img loading="lazy" decoding="async" class="aligncenter size-medium wp-image-3637" src="https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-300x200.jpeg" alt="NFTs" width="300" height="200" srcset="https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-300x200.jpeg 300w, https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-330x220.jpeg 330w, https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-296x197.jpeg 296w, https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-690x460.jpeg 690w, https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs-869x580.jpeg 869w, https://technologyforlearners.com/wp-content/uploads/2022/01/NFTs.jpeg 1024w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>The reason this market is so profitable at the moment is because of how new it is – governments do not yet know how to tax NFTs.  In spite of the energy consumed by the NFT business, creators are unlimited in how many NFTs they can mint and are putting them up for sale across multiple marketplaces.  Collectors, in turn, are busily buying up those NFTs considered exclusive and scarce digital assets.  Investors are further fuelling the demand by buying and holding a diverse range of NFTs with the view to flip them at a profit.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>While money can certainly be made by selling NFTs, it is important to understand that NFTs cost money to be stored or sold on the blockchain.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>Moreover, although it is impossible to counterfeit an NFT, a potential investor cannot easily tell if the sales pitch is accurate or not.  Persuasive sales pitches can frame a digital artwork as a highly valuable asset when in fact it is worthless.  Investors eager to get on the NFT bandwagon should be careful to check exactly where an NFT has originated and if its creator is going to be worth investing in.</p>
<p> </p>
<p></p>
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<p></p>
<p> </p>
<p>Another point to consider is that the intangibility of NFTs creates a whole range of incidental factors that could threaten their security (e.g., theft of digital keys or possible server problems).  That being said, as with investment in any valuable asset, you simply need to learn how to take care and ensure you have security safeguards in place.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>NFT artwork carries more of a personal touch than say, the stock market.  The investor should be prepared therefore to get emotionally invested to some extent in the digital artwork itself.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>This can actually have a positive impact for the digital artists / creators (and in turn the investors) because when an artist realises that others are emotionally invested in their work, it becomes a motivator to produce more exclusive pieces of art.  This leads to a positive upward investment spiral, fuelling the minting, buying and selling of ever-increasing numbers of NFTs for the artist.  Obviously, if you are one of the first people to discover a successful and upcoming artist in the NFT world, all the better.  Your investments serve as an incentive for the artist to keep going.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>Remember, as far as you can, form a positive attachment to artists who you predict will be successful.  For example, give likes, leave comments, share their work far and wide.  All of these actions serve to help will help them to produce higher-quality work faster.  Just as you would with any other collectible, once you believe the market conditions will earn your artwork a higher price than that which you paid, it is simply a matter of selling the NFT to make a profit.</p>
<p> </p>
<p></p>
<div class="wp-block-spacer" aria-hidden="true"> </div>
<p></p>
<p> </p>
<p>By successfully selling an artist’s work, that too further encourages the artist.  Smart contracts for the artist’s work enable them make additional profit each time an NFT attached to their artwork is sold.</p>
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<h2><strong>How to get started with buying and selling NFTs?</strong></h2>
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<p>Start small.  Set aside a dedicated fund to start investing in NFTs and carefully research which NFTs are worth your time.  Begin by seeing if you can buy just one NFT for a relatively small amount and then sell for a hundred or so dollars more.  Then see if you can buy several NFTs to sell for this same markup.  Develop your confidence in the process before making bigger purchases.  Then follow the classic formula of buying a high volume of NFTs at relatively low prices.</p>
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<p>Most NFT market places function like an auction (similar to eBay).  After you place a bid, you wait to see of you have won.  Some NFT marketplaces also allow you the option of buying straightway at a fixed price instead of having to bid.</p>
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<p>You should be looking for NFT bargains (creators who are also just coming onto the scene).  If the creator is to have a successful future, you could be taking advantage of their modest beginnings and you can wait to see their value increase over time.  As the name of the creator gets bigger, the popularity surrounding the kind of NFT they create increases, which means you can flip the NFT and make a profit on what you have bought.</p>
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<p>An interesting point to consider is that it is not necessarily the talent of the creator which is key to their success – it is reach and exposure.  Digital creators who are able to capture people’s attention are the most prolific.</p>
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<p>Some of the best NFTs to invest in right now include digital art, sports cards and domain names.  Good luck!</p>								</div>
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		<title>Why Businesses Must Embrace Blockchain In 2021 &#038; Beyond</title>
		<link>https://technologyforlearners.com/why-businesses-must-embrace-blockchain-in-2021-beyond/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=why-businesses-must-embrace-blockchain-in-2021-beyond</link>
					<comments>https://technologyforlearners.com/why-businesses-must-embrace-blockchain-in-2021-beyond/#respond</comments>
		
		<dc:creator><![CDATA[Will Fastiggi]]></dc:creator>
		<pubDate>Tue, 23 Nov 2021 00:14:32 +0000</pubDate>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[blockchain]]></category>
		<guid isPermaLink="false">http://technologyforlearners.com/?p=3542</guid>

					<description><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2021/11/blockchain-3019121_1280-150x150.png" class="attachment-thumbnail size-thumbnail wp-post-image" alt="" decoding="async" />Technology is a game-changer for businesses as it leads to growth and innovation. Not surprisingly, organisations of all sizes and scales are keen to invest in the latest technologies. The options are endless, from the Internet of Things to Artificial Intelligence, Augmented Reality, Virtual Reality, and industrial automation. Blockchain is another technology worth considering as [&#8230;]]]></description>
										<content:encoded><![CDATA[<img width="150" height="150" src="https://technologyforlearners.com/wp-content/uploads/2021/11/blockchain-3019121_1280-150x150.png" class="attachment-thumbnail size-thumbnail wp-post-image" alt="" decoding="async" /><p>Technology is a game-changer for businesses as it leads to growth and innovation. Not surprisingly, organisations of all sizes and scales are keen to invest in the latest technologies. The options are endless, from the Internet of Things to Artificial Intelligence, Augmented Reality, Virtual Reality, and industrial automation. Blockchain is another technology worth considering as it can serve immense benefits to companies across all domains. While the technology was initially known as the driving force behind cryptocurrencies, it has come a long way.</p>
<p>The digital distributed ledger has widespread real-world applications in the business context. Organisations have been testing the way it can help. They have found ones that can improve existing processes and facilitate new business models. Blockchain technology is valuable because it can share data fast and securely among entities. None of the entities have the responsibility for facilitating the transactions or safeguarding the data because of the distributed system. Let us explain why businesses must embrace this technology in 2021 and beyond.</p>
<p><strong>Access to core advantages</strong></p>
<p>Before understanding the specific use cases of blockchain for businesses, it is crucial to know more about its advantages. Essentially, these are the ones that are available to every organisation that embraces this technology. These include <a href="https://www.wsj.com/articles/blockchain-and-the-promise-of-an-open-decentralized-internet-1519409624" target="_blank" rel="noopener">decentralization</a>, cryptographic security, and immutability. The technology also enables entities to verify information and exchange value without depending on a third-party authority. The fundamental functions of the technology are record keeping and transacting. But companies can leverage it in diverse ways to match the objectives and commercial requirements of organizations. Beyond these core advantages, a business owner needs to understand specific ones that apply in their case.</p>
<p><strong>Transparency and security </strong></p>
<p>The most significant benefit of Blockchain technology is that it offers transparency and democratizes data access without compromising security. Data lies in an interlinked network on the public ledger. It means that no one has monopolies of information, and it is impossible to change data in the ledger single-handedly. Instead, all changes and transactions on the chain are recorded, and every user can view them as they happen. It means that your business database remains secure at all times, even if some users on the chain are compromised. An organisation couldn&#8217;t ask for more in the era of cyberthreats when security is a critical concern.</p>
<p><strong>Cost-savings</strong></p>
<p>As organisations struggle to cut operational costs in the new normal, embracing blockchain is a surefire way to achieve the goal. The technology reduces costs by removing intermediaries from existing processes. Further, it limits the administrative effort of keeping records and reconciling transactions. Less effort means you need fewer people for the job, and it translates into significant cost savings. Since there are no data gatekeepers or middlemen, companies can trace products and transactions to their roots. Product tracking can keep businesses a step ahead as they can find bottlenecks in inventory and supply chains quickly and easily. It is easy to eliminate these bottlenecks and prevent excesses and shortages in the long run.</p>
<p><strong>Versatility</strong></p>
<p>Blockchain technology is versatile and serves any business that runs upon trust and credibility. Companies operating in investment, banking, insurance, and money transfer services can derive immense benefits from its applications. Real estate businesses can also rely on it for smart contracting, while healthcare organizations can leverage it for maintaining patient records. The higher education sector is investing in <a href="https://www.unblocktalent.com/" target="_blank" rel="noopener">Blockchain resources</a> in current times for recording and maintaining student credentials. This form of data storage has endless use cases. Even governments can use it for authenticating digital voting and making the process more trustworthy.</p>
<p><strong>Transformed business ecosystems</strong></p>
<p>Blockchain technology can serve as the foundation of new platforms and applications for businesses. These platforms and applications have capabilities to enhance processes and reduce costs. More importantly, they can drive trust within the organisation and with partners and customers in the long run. Likewise, business ecosystems can adopt incentive mechanisms within themselves to encourage sustainable behaviours among team members. It is easier to track and monitor people and processes and identify ones that follow specific improvement goals. The new and improved ecosystem can take an organisation one step ahead towards its growth goals.</p>
<p><strong>Collaboration </strong></p>
<p>Another reason that<strong> </strong>makes blockchain worth embracing is that it facilitates collaboration within an organisation. Everyone has access to a distributed database, and they can be on the same page. Collaboration extends outside the realms of the company too. Multiple organizations can combine complementary capabilities which enables them to save time and other resources. Collaborating on an industry level has more advantages, such as helping companies split the costs and curb the risks of innovation. At the same time, every business that shares the technology can access its insights and benefits.</p>
<p><strong>Momentum for innovation </strong></p>
<p>Innovation is the need of the hour for businesses as they need to find ways to achieve more with less. But innovation does not depend on top-down leadership alone. It is a holistic effort, where every team member needs access to the same information and data resources. It is the only way they can do their bit to take the company a step closer to digital transformation. Blockchain applications make it possible by ensuring enterprise-wide engagement, which creates momentum for innovation. They open up processes and <a href="https://www.forbes.com/sites/glennllopis/2013/05/06/10-things-inspire-teams-to-optimally-perform/" target="_blank" rel="noopener">motivate people to give their best</a> as they feel a part of the inner circle that runs the business. The top management does not have to worry about the security of distributed data. It is possible even as everyone has access to corporate data.</p>
<p>Companies of all sizes and from diverse domains are taking notice of the unending benefits of blockchain. More and more are now embracing this technology for unlocking its wide-reaching possibilities. From banking and finance to insurance, healthcare, manufacturing, to supply chain and beyond, all verticals can derive the benefits it offers. Missing out on these advantages means you may fall behind the competition. The best time to embrace it is now, when trust, transparency, and cost-savings are more important than ever. So you must go ahead with the investment sooner rather than later.</p>
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