![]() ![]() There have been artists talking about how their work has been stolen and NFT-ized, and Giphy has tweeted that it was looking into user content being used by NFT sites. While NFTs are supposed to validate ownership, there’s no guarantee that the person creating an NFT owns the artwork they’re selling. He says that he won’t be making any money off the auctions themselves, he just wanted to help get the creators set up so they could get “proper recognition” after “10 plus years without. ![]() “Honestly there was no real agenda” when it came to the selection of memes, he told The Verge, saying that the original meme creators had contacted him independently. While the memes are mostly from the same era, Torres says that it’s not on purpose. If you (understandably) still have questions, you can read through our NFT FAQ. There’s also a lot of discussion about the massive electricity use and environmental impacts of NFTs. NFTs have been making headlines lately, some selling for millions of dollars, with high-profile memes like Nyan Cat and the “deal with it” sunglasses being put up for auction. ![]() An NFT can either be one-of-a-kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file. NFT stands for “non-fungible token,” and it can technically contain anything digital, including drawings, animated GIFs, songs, or items in video games. NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain. ![]()
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