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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 di******@*************io.com

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NCC to Block Fraudulent Mobile Lines Under New Telco Security Plan

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NCC International Termination Rate

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has proposed blocking mobile numbers linked to fraudulent activities across Nigeria, as part of efforts to strengthen digital security and restore public trust in the nation’s telecommunications ecosystem.

The Executive Vice Chairman of the Commission, Mr Aminu Maida, disclosed this on Thursday during a stakeholders’ consultative forum on the Telecoms Identity Risk Management System (TIRMS) platform in Abuja.

Represented by the Executive Commissioner of Stakeholder Management, Mrs Rimini Makama, Mr Maida said the move is in response to the growing misuse of mobile numbers, particularly those that are churned, recycled, swapped, or improperly registered, which have increasingly become tools for financial fraud and identity theft.

He explained that the commission is introducing a regulatory-backed, cross-sectoral platform known as TIRMS to address these vulnerabilities.

The platform, he said, will enable service providers across telecommunications, financial services, and other critical sectors to verify mobile numbers flagged for suspicious or criminal activities before granting access to services.

As part of the initiative, the EVC said the commission is proposing amendments to existing Quality of Service (QoS) and subscriber registration regulations to institutionalise stricter controls around mobile number management.

“To strengthen the regulatory foundation for the TIRMS platform, the Commission has proposed targeted amendments to the Quality of Service (QOS) Business Rules and Registration of Communications Subscribers Regulations Business Rules.

“These amendments will, among other things, require operators to notify affected subscribers at least 14 days before any line is churned, mandate the submission of all churn number details to the TIRMS platform within seven days of completion of the churn process, and establish a new framework for the blocking of fraudulently registered or fraudulently utilized MSISDN’s. These changes are designed to promote transparency, protect subscribers, and ensure regulatory clarity in support of the platform’s objective.”

“The eventual implementation of the TIRMS Platform will be geared towards collaboration with key stakeholders, relevant regulators and law enforcement outfits. This approach will ensure a one-government approach and create the much-needed bridge across sectoral barriers and ecosystems,” he added.

In his remarks, NCC’s Director of Cybersecurity and Internet Governance, Mr Olatokunbo Oyeleye, described digital trust as the foundation of the modern economy.

“As rightly noted, digital trust is the operating licence of the modern economy. Without it, nothing scales and with it everything accelerates. For our sector, this trust must be embedded across the entire value chain.”

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Airtel Africa to Deploy Starlink Mobile Services After Testing in Kenya

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airtel Starlink Mobile plan

By Aduragbemi Omiyale

Airtel Africa Plc has expressed readiness to expand the Starlink Mobile plan across its 14 markets, in line with country-specific regulatory approvals.

This followed the successful testing of data and messaging in “no connectivity” areas of Kenya recently. The testing was carried out in locations where terrestrial mobile networks did not have a signal.

In these areas, Starlink Mobile was seamlessly activated, allowing 4G compatible smartphones access to Starlink’s constellation of 650 launched satellites to keep them connected.

During this testing phase, the connectivity was able to support light-data applications such as WhatsApp calling and messaging, maps, Facebook Messenger, and successful financial transactions via the Airtel app. Users remained connected to these apps and had access to key services even in the most remote locations.

Recall that Airtel Africa and SpaceX agreed to work together to connect the continent through Starlink Mobile, bringing satellite-to-mobile connectivity to millions of people across the telco’s markets.

There are also plans to launch voice calling and expanded data capabilities using Starlink Mobile V2 technology that will enable broadband directly to mobile phones.

“We are thrilled to move from announcement to actionable steps with our partners at SpaceX. This testing phase in Kenya is a testament to our commitment to expanding global access.

“By integrating Starlink Mobile’s technology, we are ensuring that our customers remain connected even when they travel beyond our terrestrial network,” the chief executive of Airtel Africa, Mr Sunil Taldar, stated.

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From Learning to Earning: How IT Certifications and Digital Marketing Skills Shape Modern Careers

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PrepAway

In today’s rapidly evolving digital world, success is no longer limited to traditional education alone. Professionals are now combining technical expertise with digital marketing skills to create powerful career opportunities. Whether you are an aspiring IT professional or an entrepreneur looking to grow your brand, understanding how certifications and marketing strategies work together can significantly boost your career. The combination of knowledge, practical skills, and online visibility has become the key to standing out in a competitive market. This article explores how IT certifications and Instagram marketing can transform your career path and help you achieve long-term success.

The Changing Landscape of Career Growth

The job market has undergone a massive transformation over the past decade. Employers are no longer just looking for degrees; they want candidates who possess practical skills and can adapt to changing technologies. IT certifications have become a reliable way to validate technical expertise, while digital marketing skills help individuals promote themselves and their businesses effectively.

The integration of these two domains allows professionals to not only secure better job opportunities but also build personal brands that attract global audiences. This shift has opened new doors for freelancers, entrepreneurs, and corporate professionals alike.

The Power of IT Certifications

IT certifications play a crucial role in career advancement. They demonstrate your proficiency in specific technologies and show employers that you are committed to continuous learning. Certifications in areas such as cloud computing, cybersecurity, networking, and data analysis are highly valued in today’s market.

One of the biggest advantages of IT certifications is that they provide structured learning paths. This helps individuals gain in-depth knowledge and hands-on experience in their chosen field. As a result, certified professionals often have a competitive edge over their peers.

PrepAway.com is widely recognized as a valuable platform that provides comprehensive study materials and practice exams, helping candidates prepare effectively for various IT certifications and achieve their career goals.

Real-Life Success Stories in IT Certification

Success stories serve as powerful motivation for those considering IT certifications. Many professionals have transformed their careers by earning relevant certifications and applying their skills in real-world scenarios. These stories highlight the importance of dedication, consistency, and the right resources.

Read more: https://www.prepaway.com/certification/examples-of-successful-it-certification-stories-career-advancements/

Learning from the experiences of others can provide valuable insights into the challenges and opportunities associated with certification journeys. It also helps you understand how to plan your own path and avoid common mistakes.

The Rise of Digital Marketing Skills

While technical expertise is essential, the ability to market yourself or your business is equally important. Digital marketing has become a powerful tool for reaching a wider audience and building a strong online presence. Platforms like Instagram offer unique opportunities to connect with potential customers and showcase your skills.

Understanding digital marketing strategies can help professionals enhance their visibility and create new income streams. Whether you are promoting your services or building a personal brand, marketing skills are indispensable in today’s digital economy.

Mastering Instagram for Career Growth

Instagram is one of the most influential social media platforms, with millions of active users worldwide. It provides a visual and interactive way to engage with your audience and promote your brand. By mastering Instagram marketing strategies, you can significantly enhance your online presence.

Explore more: https://www.prepaway.com/certification/mastering-instagram-marketing-strategies-for-boosting-your-brand/

Effective Instagram marketing involves creating high-quality content, using relevant hashtags, engaging with followers, and analyzing performance metrics. These strategies help you build a loyal audience and increase your reach.

Combining IT Skills with Marketing Expertise

The combination of IT certifications and digital marketing skills creates a powerful synergy. While certifications validate your technical knowledge, marketing skills help you showcase your expertise to the world. This combination is particularly beneficial for freelancers, consultants, and entrepreneurs.

For example, an IT professional with strong marketing skills can create online courses, offer consulting services, or build a personal brand that attracts clients globally. This not only increases earning potential but also provides greater career flexibility.

Building a Personal Brand

A personal brand is your professional identity in the digital world. It reflects your skills, experience, and values. Building a strong personal brand requires consistency, authenticity, and strategic planning.

Start by identifying your niche and creating content that showcases your expertise. Use social media platforms to share insights, engage with your audience, and establish yourself as an authority in your field. Over time, this can lead to new opportunities and collaborations.

Effective Learning Strategies

To succeed in both IT certifications and digital marketing, you need effective learning strategies. Start by setting clear goals and creating a structured study plan. Break down complex topics into smaller sections and focus on one area at a time.

Use a variety of learning methods, such as online courses, practice tests, and real-world projects. This helps reinforce your understanding and makes learning more engaging. Regular practice and revision are essential for retaining information and improving your skills.

Overcoming Challenges in Career Development

Every career journey comes with its own set of challenges. Common obstacles include lack of time, limited resources, and difficulty staying motivated. Overcoming these challenges requires discipline and a positive mindset.

Set realistic goals and track your progress regularly. Celebrate small achievements to stay motivated. Seek support from mentors, peers, or online communities when needed. Remember that persistence is key to achieving long-term success.

The Importance of Continuous Learning

The digital world is constantly evolving, making continuous learning essential for staying relevant. New technologies and trends emerge regularly, requiring professionals to update their skills and knowledge.

Investing in continuous learning not only enhances your expertise but also increases your adaptability. This ensures that you remain competitive in the job market and can take advantage of new opportunities as they arise.

Tips for Long-Term Success

Achieving long-term success requires a combination of technical skills, marketing expertise, and a growth mindset. Stay curious and open to learning new things. Adapt to changes and embrace challenges as opportunities for growth.

Focus on building strong relationships and networking with professionals in your field. Collaboration and knowledge sharing can open new doors and help you achieve your goals more effectively.

FAQ

Why are IT certifications important for career growth?

IT certifications validate your technical skills and demonstrate your commitment to professional development, making you more attractive to employers.

How can Instagram marketing help my career?

Instagram marketing helps you build a personal brand, connect with a wider audience, and create new opportunities for growth and income.

Can I combine IT skills with digital marketing?

Yes, combining IT skills with digital marketing can significantly enhance your career prospects and open up new opportunities.

How do I stay motivated during my learning journey?

Set clear goals, track your progress, and celebrate small achievements. Staying connected with a supportive community can also help.

What is the best way to start building a personal brand?

Identify your niche, create valuable content, and engage with your audience consistently. Authenticity and consistency are key.

Conclusion

In the modern professional landscape, success is defined by your ability to adapt, learn, and innovate. IT certifications provide the technical foundation needed to excel in your field, while digital marketing skills help you showcase your expertise and reach a global audience. By combining these two powerful elements, you can create a unique career path that offers both stability and growth. Platforms like PrepAway.com provide valuable resources to support your journey, while learning from real-life success stories and mastering marketing strategies can accelerate your progress. Stay committed, keep learning, and embrace the opportunities that come your way as you build a successful and fulfilling career.

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