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What is NFT and What You Need to Know About it

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What Is NFT

By Kenneth Horsfall

What is an NFT? An NFT is a non-fungible token (NFT), a non-interchangeable unit of data stored on a blockchain, a form of digital ledger that can be sold and traded.

Types of NFT data units may be associated with digital files such as photos, videos, and audio because each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin.

NFT ledgers claim to provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain. NFTs do not restrict the sharing or copying of the underlying digital files, do not necessarily convey the copyright of the digital files, and do not prevent the creation of NFTs with identical associated files.

NFTs have been used as a speculative asset, and they have drawn increasing criticism for the energy cost and carbon footprint associated with validating blockchain transactions as well as their frequent use in art scams and claimed structure of the NFT market to be a Ponzi scheme.

An NFT is a unit of data stored on a digital ledger called a blockchain, which can be sold and traded. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. An NFT (and, if applicable, the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets. The extra-legal nature of NFT trading usually results in an informal exchange of ownership over the asset that has no legal basis for enforcement, often conferring little more than use as a status symbol.

How Is an NFT Different from Cryptocurrency?

NFTs function like cryptographic tokens, but, unlike cryptocurrencies such as Bitcoin or Ethereum, NFTs are not mutually interchangeable, hence not fungible.

While all Bitcoins are equal, each NFT may represent a different underlying asset and thus may have a different value. NFTs are created when blockchains string records of cryptographic hash, a set of characters identifying a set of data, onto previous records, therefore, creating a chain of identifiable data blocks.

This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership. However, data links that point to details such as where the art is stored can be affected by link rot.

NFTs are different. Each has a digital signature that makes it impossible for NFTs to be exchanged for or equal to one another (hence, non-fungible). One NBA Top Shot clip, for example, is not equal to EVERYDAYS simply because they’re both NFTs. (One NBA Top Shot clip isn’t even necessarily equal to another NBA Top Shot clip, for that matter.)

How Does an NFT Work?

NFTs exist on a blockchain, which is a distributed public ledger that records transactions. You’re probably most familiar with blockchain as the underlying process that makes cryptocurrencies possible.

Specifically, NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.

An NFT is created or “minted” from digital objects that represent both tangible and intangible items, including:

  • Art
  • GIFs
  • Videos and sports highlights
  • Collectibles
  • Virtual avatars and video game skins
  • Designer sneakers
  • Music

Even tweets count. Twitter co-founder Jack Dorsey sold his first-ever tweet as an NFT for more than $2.9 million.

Essentially, NFTs are like physical collector’s items, only digital. So instead of getting an actual oil painting to hang on the wall, the buyer gets a digital file instead.

They also get exclusive ownership rights. That’s right: NFTs can have only one owner at a time. NFTs’ unique data makes it easy to verify their ownership and transfer tokens between owners. The owner or creator can also store specific information inside them. For instance, artists can sign their artwork by including their signature in an NFT’s metadata.

Early History of NFT (2014–2017)

The first known “NFT”, Quantum, was created by Kevin McCoy and Anil Dash in May 2014, consisting of a video clip made by McCoy’s wife, Jennifer. McCoy registered the video on the Namecoin blockchain and sold it to Dash for $4, during a live presentation for the Seven on Seven conference at the New Museum in New York City. McCoy and Dash referred to the technology as “monetized graphics”.

A non-fungible, tradable blockchain marker was explicitly linked to a work of art, via on-chain metadata (enabled by Namecoin). This is in contrast to the multi-unit, fungible, metadata-less “coloured coins” of other blockchains and Counterparty.

In October 2015, the first NFT project, Etheria, was launched and demonstrated at DEVCON 1 in London, Ethereum’s first developer conference, three months after the launch of the Ethereum blockchain. Most of Etheria’s 457 purchasable and tradable hexagonal tiles went unsold for more than five years until March 13, 2021, when renewed interest in NFTs sparked a buying frenzy. Within 24 hours, all tiles of the current version and a prior version, each hardcoded to 1 ETH ($0.43 at the time of launch), were sold for a total of $1.4 million.

The term “NFT” only gained currency with the ERC-721 standard, first proposed in 2017 via the Ethereum GitHub, following the launch of various NFT projects that year. The standard coincided with the launch of several NFT projects, including Curio Cards, CryptoPunks (a project to trade unique cartoon characters, released by the American studio Larva Labs on the Ethereum blockchain) and rare Pepe trading cards.

Increased Public Awareness of NTF (2017–Present)

The 2017 online game CryptoKitties was monetized by selling tradable cat NFTs, and its success brought some public attention to NFTs.

The NFT market experienced rapid growth during 2020, with its value tripling to $250 million. In the first three months of 2021, more than $200 million were spent on NFTs.

In the early months of 2021, interest in NFTs increased after a number of high-profile sales and art auctions.

Copyright of NFT

Ownership of an NFT does not inherently grant copyright or intellectual property rights to the digital asset a token represents. While someone may sell an NFT representing their work, the buyer will not necessarily receive copyright privileges when ownership of the NFT is changed and so the original owner is allowed to create more NFTs of the same work. In that sense, an NFT is merely proof of ownership that is separate from copyright.

According to legal scholar Rebecca Tushnet, “In one sense, the purchaser acquires whatever the art world thinks they have acquired. They definitely do not own the copyright to the underlying work unless it is explicitly transferred.”

To be continued…

My name is Kenneth Horsfall and I’m the creative director and founder of K.S. Kennysoft Studios Production Ltd, fondly called Kennysoft STUDIOs, a Nigerian Video and Animation Production Studio. I am also the founder and lead instructor at Kennysoft Film Academy and can be reached via director@kennysoftstudio.com

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Google Pumps $37m into Africa to Boost AI Research, Digital Skills, Others

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Google AI Community Centre

By Aduragbemi Omiyale

About $37 million is being invested in Africa by Google to ensure the continent is not left behind in technology, with $7 million earmarked for Artificial Intelligence (AI) education in Ghana, Nigeria, Kenya, and South Africa to support academic institutions and nonprofits building localized AI curricula, online safety training, and cybersecurity programs.

In addition, two new $1 million grants from Google.org aim to bolster AI research capacity across the continent.

One grant goes to the African Institute for Data Science and Artificial Intelligence (AfriDSAI) at the University of Pretoria to support applied AI research and training. The other supports the Wits Machine Intelligence and Neural Discovery (MIND) Institute in South Africa, which will fund MSc and PhD students to conduct foundational AI research and help shape Africa’s role in the global AI landscape.

Also, the tech giant is providing $25 million for an AI Collaborative for Food Security, which will bring together researchers, and nonprofit organizations to co-develop AI tools for early hunger forecasting, crop resilience, and tailored guidance for smallholder farmers.

The goal is to help make food systems across Africa more adaptive, equitable, and resilient in the face of increasing climate and economic shocks.

Further, the company is providing $3 million for Masakhane Research Foundation to support the development of high-quality datasets, machine translation models, and speech tools that make digital content more accessible to millions of Africans in their native languages.

To further empower innovation, Google is launching a catalytic funding initiative to support AI-driven startups tackling real-world challenges. This platform will combine philanthropic capital, venture investment, and Google’s technical expertise to help more than 100 early-stage ventures scale AI-based solutions in agriculture, healthcare, education, and other vital sectors. Startups will also receive mentorship, access to tools, and technical guidance to support responsible development.

Google has also launched an AI Community Centre in Accra for AI learning, experimentation, and collaboration in Africa. The facility will host training sessions, community events, and workshops focused on responsible AI development.

Its programming will span four pillars: AI literacy, community technology, social impact, and arts and culture — providing a platform for a diverse ecosystem of developers, students, and creators to engage with AI in ways that are grounded in African priorities.

To help meet the rising demand for AI and digital skills, Google is rolling out 100,000 Google Career Certificate scholarships for students in higher learning institutions across Ghana.

These fully funded, self-paced programs will focus on AI Essentials, Prompting Essentials, and other high-growth fields like IT Support, Data Analytics, and Cybersecurity — enabling more learners to access job-ready training and build careers in AI and the digital economy.

“Africa is home to some of the most important and inspiring work in AI today. We are committed to supporting the next wave of innovation through long-term investment, local partnerships, and platforms that help researchers and entrepreneurs build solutions that matter,” the Senior Vice President for Research, Labs, and Technology and Society at Google, Mr James Manyika, said.

Also, the Vice President of Engineering and Research at Google, Mr Yossi Matias, stated, “This new wave of support reflects our belief in the talent, creativity, and ingenuity across the continent. By building with local communities and institutions, we’re supporting solutions that are rooted in Africa’s realities and built for global impact.”

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How This AI Alert by Airtel is Transforming Mobile Security in Africa

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AI Alert by Airtel Odeshi

These days, people rely heavily on their mobile phones for talking, texting, banking, social media, and storing important personal information. Because of this, scammers and spammers often target phone users.

Mobile fraud, like fake SMS messages and scams, is becoming more common and putting millions at risk of losing money or having their private details stolen.

Airtel’s new AI-powered Spam Alert Service offers a smart and timely way to fight back, marking a major step forward in protecting mobile users in Africa.

A brief look at mobile fraud and spam

Mobile fraud and spam are problems around the world, but they hit harder in places where mobile phone use is growing fast, and safety measures haven’t caught up.

A 2024 report from GSMA Mobile Economy shows that more than 20% of mobile users globally have experienced some kind of mobile fraud, with spam texts being one of the most common.

In Nigeria, the Nigerian Communications Commission (NCC) has noted a sharp rise in scam messages and fake calls, leading to yearly losses in the hundreds of millions of dollars.

These spam texts often include fake links, harmful ads, or tricks to steal personal details. Many people get caught without knowing, which can lead to stolen bank money, identity theft, or damaged devices.

Older spam blockers only work on certain phones or apps, leaving many people, especially those using basic phones, without protection.

 Why Airtel’s AI Spam Alert Service stands out

Airtel, a top telecom company in Africa, has launched a new and free service called the AI Spam Alert Service. It’s the first of its kind in Africa and aims to protect mobile users from spam text messages as they come in.

What makes this service different is that it doesn’t read or check the actual message content. Instead, it uses advanced artificial intelligence to quickly study the sender’s behaviour using over 250 signs or patterns, all within a fraction of a second.

Some of those parameters, according to Airtel, includes:

  • How frequently the sender changes SIM cards.
  • The volume and frequency of messages sent by the message initiator to different recipients.
  • The geographical spread of the recipient numbers, whether messages are targeted locally or dispersed nationwide.
  • Whether the sender receives replies or only sends messages.
  • A cross-reference of numbers previously reported for spam activity.

The AI completes this analysis in just 2 milliseconds, faster than the blink of an eye, allowing real-time alerts to subscribers as suspected spam messages arrive.

How Airtel’s Spam Alert Service improves mobile safety and trust

Airtel’s new AI-powered spam alert system is set to make a big difference in mobile security across Nigeria and the rest of Africa. Instead of depending on users to block spam themselves, the service works directly through the network to stop suspicious messages before they reach people’s phones.

This kind of technology helps users feel safer and more confident using mobile networks—especially as more people rely on their phones for banking and other money-related services.

A 2025 report by McKinsey Digital shows that many Africans worry about mobile security when using digital financial tools. By reducing the risk of spam and fraud, Airtel is not only protecting its users but also helping to build a safer digital space where more people can take part in the growing mobile economy.

According to Airtel, within two months of its launch, the spam alert service system has identified 9,667,008 messages as potential spam.

Why this is a game changer

By building a service that is first-of-its-kind in Africa, Airtel is leading the way in offering spam alerts, powered by AI directly on its network, for over 150 million subscribers across the continent.

In addition, the service is quick, spotting suspicious sender activity in just milliseconds without reading users’ messages.

Finally, the service is free and requires no app downloads or extra setup. Airtel says the turns on automatically, making it easy for everyone to stay protected, even those using basic phones.

By sending signals to users before problems happen, Airtel boosts trust and encourages more people to safely use mobile money and other digital services.

Scammers are always finding new ways to trick consumers through the ubiquitous mobile phones, so increased demand for security improvements is, understandably, shifting to telecom companies. Airtel’s AI Spam Alert Service is a strong and timely move toward better, smarter protection for users. As more people start using the service, it should help cut down fraud, keep personal information safe, and make mobile use more enjoyable.

As African economies continue to grow more digital, users of telecom services will need more secure and reliable ways to communicate, and Airtel is leading the way towards that safe future.

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MTN $150m Data Centre Will Unlock Productivity, Drive Diversification—FG

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mtn data centre

By Aduragbemi Omiyale

The $150 million data centre established in Lagos by MTN Nigeria has been described by the federal government as a gamechanger because of it aligns with its digital economy agenda.

The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, speaking during the unveiling recently in Ikeja, Lagos, said the facility supports the $1 trillion economy the current administration aims to build.

“An investment like this, the one we are here to launch, offers a platform for our young people to thrive. Enterprise-grade infrastructure like this, on our soil, gives startups, developers, and digital creators the ability to build and scale from Nigeria to the world.

“With this facility, MTN is reinforcing its position as Nigeria’s digital backbone. The data centre, named after the late Sifiso Dabengwa, a former CEO of MTN Nigeria and later Group Chief Operating Officer before his passing in September last year is being hailed as Nigeria’s largest prefabricated modular data centre

“It will deliver 4.5 MW in phase 1, with an additional 4.5 MW to be delivered in phase 2, which is expected to be completed soon,” he stated.

Mr Tijani noted that the MTN Data Centre would contribute to growing Nigeria’s economy by “unlocking productivity, hiring enterprise, and driving diversification through technological innovation and inclusion.”

The chief executive of the Nigerian Communications Commission (NCC), Mr Aminu Maida, represented by the Deputy Director for New Media and Information Security Department, Mr Babagaba Digima, praised MTN’s leadership in digital innovation.

“The commission remains committed to creating an environment that supports innovation while ensuring the highest standards of cybersecurity, data protection, and robust internet infrastructure. We will continue to work closely with operators to ensure that the deployment of critical infrastructure meets the high standards our digital economy deserves,” he stated.

Also, the Governor of Lagos State, Mr Babajide Sanwo-Olu, represented by the Secretary to the State Government (SSG), Mrs Bimbola Salu-Hundeyin, said the facility “not only signifies MTN’s unwavering commitment to investing in Nigeria’s digital infrastructure but also reinforces the strategic importance of Lagos as a technology and innovation hub for the nation.”

“As we all know, data is the new oil, and cloud technology is the engine that drives it. With its Tier III facilities, MTN is raising the bar for secure, scalable, and efficient enterprise services, critical enablers for businesses, public services, and national as well as multinational corporations alike,” Mr Sanwo-Olu stated.

Also speaking, the chief executive of MTN Nigeria, Mr Karl Toriola, said, “We are committed to building locally managed, globally competitive digital platforms that will enable businesses to scale faster and engage more people in wide-ranging research and development.

“At MTN, we believe everyone, particularly Nigerians and Africans, deserves the benefits of a modern, connected life. We continue to push boundaries to make the humanly impossible, conceivable, feasible, and ultimately possible.”

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