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In: Economics
I’ve been trying to understand this all day and every time I think I’m getting close I get lost again and feel like an idiot.
As far as I understand Nft users:
1) steal art, or the artist who has decided to do this, makes art.
2) use the blockchain to create a limited amount of a digital thing that would otherwise be infinite
3) sell big bc exclusive
4) kill the environment because of electrical consumption
What I’m really struggling with is the concept of tokens and hashes. How do they add a token? Are they crypto mining for ownership and hoping a token that matches something about the arts footprint is uncovered? Are the hashes and mining just to produce of more of the digital copy of the art?
(I’m not even fully sure what a hash is please help. I only learned what a blockchain was this morning)
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