Yiannis Sakellis
visual artist
NFTs
Non Fungible tokens
A Game of Skulls
a memento of mortality - a proof of eternity
Digital transfers and editing of laser engraving, manual printing on paper and gold leaf, these digital assets from the collection
A Game of Skulls, on sale on Foundation.app marketplace, are made initially with traditional art techniques and are later transferred and edited into a digital form and into a non-fungible tokens, a combination of both digital and analogue techniques to create unique digital assets.
visit the collection:
https://foundation.app/@sakellisy
NFT stands for 'non-fungible token'. When something is fungible, like a dollar bill, it is equivalent to, and can thus be exchanged for, any other dollar bill. In contrast, a non-fungible token is a unique asset in digital form that cannot be exchanged for any other NFT. This means that every NFT is a 'one-of-a-kind' item. NFTs are transferred from one owner to another using blockchain technology, which creates a digital trail from seller to buyer that verifies the transaction. This encodes the unique ownership rights to the buyer (new owner).
The physical world counterpart would be a unique collectible asset such as a piece of art, for which you might have a certificate of ownership attesting to its authenticity. The NFT with its blockchain technology replaces the need for certificates of ownership.
NFTs became a popular investment in 2021, even though they’ve been around since 2014. As cryptocurrency investing exploded, so did the idea of taking certain digital assets and selling them to investors to buy online.
source: seeking Alpha