Hashed Out V5: The NFT 101 Edition

Welcome to the fifth issue of Hashed Out, a bimonthly newsletter from Argot (www.argotagency.io) that serves as a guide for those looking to learn the basics of the web3 space. In time, our vision is to create a forum where web3 enthusiasts and newcomers can come together to explore the new digital world. Hashed Out seeks to provide you with all the resources and insights you need to go from web3 virgin to web3 virtuoso. 

As the sherpa for your expedition into the new digital great beyond, we promise to make the complicated feel simpler, connect you to the most important data and resources from the builders, researchers, and creators that are shaping web3, and respond to your needs as we grow together.

In This Issue- Table of Contents

• NFTs 101: A Beginner’s Guide to the World of NFTs

• Editorial: Embracing the Digital Renaissance with NFTs

• NFT 101: The Case Studies

• Connections- Curated Links for the Curious

• The News Drop- Web3 News You Can Use

• The Wrap- Key takeaways for the TLDRers & A Look Ahead

Ok Hashers, are you ready to get started learning smart contracts and DApps? I know I am! Let’s go!

NFTs 101: A Beginner's Guide to the World of NFTs

Estimated Read Time: 4 minutes

Introduction

In the web3 world’s fast-pace of changing digital innovation, Non-Fungible Tokens (NFTs) have emerged with revolutionary potential, challenging traditional notions of ownership and creativity. If you are familiar with web3, NFTs may likely have been your first point of contact.  They were covered frequently between 2018 and 2021, when artistic NFTs connected to communities like Crypto Kitties or The Bored Ape Yacht Club were selling for astronomical prices. Digital speculation is just a small part of the NFT story. Whether you're an art enthusiast, a tech aficionado, or simply curious about the latest buzz, understanding NFTs opens doors to a digital universe where uniqueness (and even utility) reigns supreme.

NFTs 101: The Case Studies

Estimated Read Time: 4 Minutes

Introduction

This week in our case study we are featuring four different NFT success stories that capture the different approaches taken in the NFT art and entertainment sector.

Editorial: Embracing the Digital Renaissance with NFTs

Estimated Read Time: 5 minutes

Introduction

As we enter the web3 era the ways in which information flows and is stored and how we define creativity is quickly changing.  This innovative change brings along with it boundless opportunity.  One of the web3 technologies most ripe for creative adoption is Non-Fungible Tokens (NFTs).

In this piece I look to make a case for embracing NFTs, highlighting the value they bring in creating work efficiency, enhanced security and transferability of our most important records, and offer a new world of creative opportunities.

Connections- Curated Links for the Curious

Learning About NFTs

1. Investopedia’s Guide to NFTs

   • Comprehensive overview of what NFTs are, how they work, and their key characteristics.

2. CoinDesk’s NFT Explainer

   • Detailed explanation of NFTs, including their technology, use cases, and market trends.

3. NFTs 101 by Binance Academy

   • Educational article that covers the basics of NFTs, their creation, and applications.

4. NonFungible.com – NFT Market Overview

   • Insights and analytics on the NFT market, including trends and key metrics.

How to Mint an NFT

5. OpenSea’s NFT Creation Guide

   • Step-by-step guide on how to create and mint your own NFTs on the OpenSea platform.

6. Rarible’s How to Mint an NFT

   • Instructions on creating and minting NFTs using the Rarible platform.

7. Mintable’s NFT Minting Guide

   • Comprehensive tutorial on how to mint NFTs on Mintable, including setup and publishing.

8. Foundation’s Artist Guide to NFTs

   • A resource for artists looking to mint and sell their NFTs on Foundation.

Investing in NFTs

9. NFT Investing in Real Estate Guide by Forbes

   • Guide to using NFTs in real estate.

10. Cointelegraph’s NFT Investment Strategies

    • Strategies and tips for investing in NFTs, along with market analysis.

NFTs and Culture

11. Rolling Stone’s NFT Impact on Music and Art

• Articles discussing the impact of NFTs on the music industry and the broader cultural landscape.

  • Article #1

  • Article #2 

12. ArtNet’s NFTs and Art Market

• Analysis of how NFTs are changing the art market and artist interactions.

Did you miss out on the previous issues of Hashed Out? See them all here!

The Wrap

For those requiring a TLDR or just want a fast recap here it is:

TL;DR: NFTs 101

NFTs 101 introduces Non-Fungible Tokens (NFTs) as unique digital assets stored on a blockchain. Unlike cryptocurrencies, each NFT is distinct and represents ownership of specific items like digital art, collectibles, or virtual real estate. The article covers the basics of NFTs, including their creation, use cases (from art to gaming), and how they differ from fungible assets. It explains the technology behind NFTs, their benefits (e.g., digital ownership and provenance), and potential drawbacks (e.g., environmental impact and market volatility). The future of NFTs is explored, highlighting their expanding role in various industries and potential for innovation.

TL;DR: Editorial on NFTs

The editorial argues for the significance of NFTs in transforming digital ownership and engagement. It emphasizes how NFTs offer unique value by providing verifiable ownership and authenticity for digital assets, which traditional systems struggle to achieve.

NFTs enable creators and brands to connect directly with audiences, create new revenue streams, and engage customers in innovative ways. The piece highlights successful NFT use cases and stresses the importance of embracing this technology for its potential to reshape industries, enhance digital interactions, and open up new possibilities for creators and consumers alike.

Key Features of NFTs:

• Non-Fungible/Unique: Eliminates single points of control, distributing power across the network.

• Indivisible Transactions are visible to all network participants, enhancing trust.

• Scarcity: Once recorded, data cannot be altered, ensuring transaction integrity.

• Transerable: Vital for transaction validation and network agreement without central authority.

Types of NFTs/Use Cases:

• Art and Music

• Collectibles

• Rewards Programs

• Digital Representation of Documents

• Digital Representation of Real Property and Assets

• Gaming Assets

A Look Ahead

Ok, it’s about time to roll the credits! Where do we go from here? In our next edition we will be covering the basics of DAOs (Decentralized Autonomous Organizations) as a new model of organizational governance.

We have a few new initiatives that will hopefully be launching soon, so keep your eyes open!

One last call, if you haven’t already, hit the subscribe button below to stay in the know. We have a lot of great stuff ready to be released and we would love for you to join our community and grow with us.

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I hope that you enjoyed this edition of Hashed Out. There is much more to come and your feedback is invaluable to how we will grow. If you have questions or comments drop us a line.

[email protected]

Ok Hashers, that’s The Wrap. Many thanks!

(Cue awesome exit music of your choice)

Dr. Scott