Technology
What is NFT and What You Need to Know About it
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 [email protected]
Technology
Can Nigeria Build Enough Solar Panels? TechCartel Breaks Down the New Taxes on Imported Tech
There was a time when a solar panel on a Nigerian rooftop was a luxury, the kind of thing you saw at a hotel or a church with generous donors. That time has passed. Across the country, solar panels have become a defining feature of the skyline, appearing on rooftops and office blocks in nearly every neighborhood. Once viewed as a luxury, solar has transitioned into a fundamental necessity for millions of households and businesses. For many, it serves as the foundation of their daily power needs.
The Federal Government has now moved to change how those panels get into the country, and the implications are landing on an energy market that has quietly built its entire informal infrastructure around imported solar hardware.
According to a detailed breakdown published by TechCartel, one of Nigeria’s most closely watched tech publications for consumer technology, the government is not staging an overnight ban. What it is staging is a structured financial squeeze: higher import taxes on finished solar panels, lower duties on raw materials for local manufacturers, and a 2036 target for 100 percent local production.
The policy timeline started earlier than most people noticed. In March 2025, the Minister of State for Technology, Uche Nnaji, announced a Solar Import Phase-out Roadmap. The stated motivation was the import bill, which crossed ₦200 billion in a single year. By January 2026, the Rural Electrification Agency reported that local manufacturing capacity had grown from 120 MW to 300 MW. On April 1, 2026, the Minister of Finance signed the 2026 Fiscal Policy Measures, formally introducing Import Adjustment Taxes on finished solar goods. A Green Tax Surcharge follows on July 1, 2026.
For anyone who opened an import Form M before April 1, there is a 90-day window to clear goods at the old rate. After that, the new cost structure kicks in. The Secure Energy Project estimates a 15 to 25 percent rise in solar panel prices by late 2026.

Can Nigerians Still Afford to Power Themselves?
To understand why this policy lands differently in Nigeria than it would elsewhere, you have to understand what the grid has done to Nigerian electricity habits. Years of erratic supply, multi-hour daily outages, and voltage fluctuations that destroy electronics did not produce a population waiting patiently for the government to fix things. It produced a population that fixed things itself.
First came generators, petrol then diesel then gas. Then came inverters with lead-acid batteries, then lithium batteries, and then solar panels added on top to charge them without spending on fuel. The 1 kWh solar generator, once considered a niche product, is now a completely ordinary fixture in small households and one-room businesses. Some call them power stations, and that name has started to feel accurate. Provisions shops, phone repair kiosks, tailoring studios, and barbing salons run on them every single day. They are small enough to sit on a balcony, affordable enough for a two-month savings plan, and powerful enough to run lights, DC fans, and a phone charger without touching a NEPA bill.
The scale goes well beyond individual homes. Petrol stations that once ran generators round the clock have converted their canopy roofs into solar arrays, running hybrid systems where solar handles daytime load and the generator only kicks in at night. Pharmacies, internet cafés, printing shops, and cold rooms powering perishables now run on solar. The solar transition in Nigeria has been market-driven and it has moved fast.
That context is what makes the arithmetic in TechCartel’s breakdown so pointed. Nigeria’s local solar manufacturing capacity stands at 300 MW as of April 2026. The country’s estimated demand for energy stability is 3.7 GW. The gap is over 3,400 MW. Local manufacturers currently price their panels about 16 percent above imported alternatives. As import taxes rise, that gap will narrow, but the timeline is vital. If local capacity grows faster than analysts expect, the transition could be orderly.
The government’s $425 million commitment to eight new manufacturing plants, and the 150 percent capacity growth achieved in a single year, suggest the industrial ambition is real. Nigerian-assembled panels are already being exported to Ghana and Burkina Faso, which signals a manufacturing base serious enough to serve regional demand. The 2036 target is a decade away, but the trajectory is being built now.
For Nigerians planning a solar installation in the coming months, the window is clear. The Form M grace period runs 90 days from April 1. The Green Tax Surcharge begins July 1. Any installation completed before that first wave of cost increases arrives will avoid the opening price shock. After that, the cost of running your own power in Nigeria, already a choice made out of necessity, gets a little harder to justify on a budget.
Technology
NITDA Warns of Dangerous AI Malware Targeting Banks, Government Agencies
By Adedapo Adesanya
The National Information Technology Development Agency (NITDA) has warned of an active, Artificial Intelligence (AI)-powered malware named DeepLoad targeting financial institutions and government agencies
The organisation warned that the new harmful malware is targeting Nigerian government agencies, financial institutions, businesses, and individuals.
In a tweet on its verified X handle, NITDA revealed that once the virus is executed, DeepLoad silently installs itself, harvests stored user credentials and sensitive data from browsers, evading antivirus software by leveraging AI.
NITDA further stated that upon infection, the malware can result in unauthorised access to bank accounts, mobile money services, and payment cards.
It reiterated that the malware also steals saved passwords, personal information, and documents.
It explained that these thefts enable criminals to impersonate victims for financial gains, disruption of public/private organisations’ workflow via document theft, and ultimately a threat to national security via the compromise of classified governance networks.
The agency outlined that the malware targets public and private institutions, Banks and Financial institutions, Critical infrastructure operators, and individual citizens using online banking and email.
The agency cautioned against pasting links and commands from untrusted websites into your computer or phone’s browser, as legitimate websites do not ask for such.
Technology
Meta Strengthens Teen Safety Online
By Modupe Gbadeyanka
The parent company of Facebook, WhatsApp, and Instagram, Meta, has strengthened its teen safety online with an expansion of its AI-powered age assurance measures.
This is part of efforts to create safer, age-appropriate experiences for young people across its platforms. Through a combination of AI, product design, and parental support tools, Meta continues to strengthen how it identifies teens, protects them by default, and supports families in navigating digital environments.
Strengthening underage enforcement with advanced AI
Meta requires users to be at least 13 years old to use its platforms and continues to invest in advanced technologies to uphold this policy at scale. As part of these efforts, the company is further enhancing its AI-driven systems to more effectively identify and take action on accounts that may belong to underage users.
These advancements include:
Contextual AI analysis across profiles: Meta’s systems analyse a wide range of signals—including posts, comments, bios and captions—to identify contextual indicators such as references to school environments or age-related milestones. This capability is being expanded across additional surfaces within Meta’s apps, strengthening enforcement more consistently and proactively.
Advanced visual analysis technology: Meta is introducing AI that can interpret general age-related cues within photos and videos. This technology estimates age ranges based on broad characteristics and does not use facial recognition or identify individuals. When combined with behavioural and textual signals, it significantly enhances detection accuracy.
Expanded enforcement and verification processes: Accounts identified as potentially underage are subject to age verification requirements. Where age cannot be confirmed, accounts may be removed to maintain platform integrity.
Improved reporting and flagging tools: Meta is making it easier for people to report suspected underage accounts through simplified reporting flows available both in-app and via the Help Centre, helping surface potential violations more efficiently.
AI-supported review systems: To improve consistency and speed, Meta is supplementing human review teams with AI models that apply standardised evaluation criteria to reports, enabling faster and more reliable enforcement outcomes.
Stronger circumvention safeguards: Meta is also enhancing its ability to detect and prevent repeat attempts by users who may try to bypass age restrictions by creating new accounts.
While many of these AI-driven systems are already in use globally, certain advanced capabilities continue to be rolled out progressively across additional markets.
Expanding Teen Account protections
Meta continues to expand its Teen Account framework, which is designed to provide built-in protections that limit unwanted contact and reduce exposure to inappropriate content. Since its introduction, hundreds of millions of teens have been enrolled in these protections across Instagram, Facebook, and Messenger.
These protections include automatically placing teens under 18 into age-appropriate experiences, including a default 13+ content setting designed to limit exposure to sensitive content.
Building on this progress, Meta is further scaling its proactive detection technology that identifies users who may be teens—even if they have entered an adult birthdate—and automatically places them into age-appropriate settings. This technology, already rolled out in several markets, is being expanded to additional regions to make these protections available more broadly over time.
Supporting parents with tools and guidance
Meta continues to support parents as key partners in helping teens navigate online experiences safely. The company is introducing new notifications and guidance designed to help parents better understand how to verify their teen’s age and encourage open conversations about the importance of providing accurate information online.
These efforts build on existing resources available through Meta’s Family Centre, which provides tools and educational materials to help families manage their digital experiences more effectively.
Meta also maintains age verification requirements for users who attempt to change their age in ways that may bypass protections, using a combination of ID verification and facial age estimation tools.
Advocating for industry-wide solutions
Meta continues to emphasise that age assurance is a complex, industry-wide challenge that requires broader collaboration. The company supports approaches where age verification is conducted at the operating system or app store level, enabling developers to deliver consistent, age-appropriate experiences across apps.
In addition to AI-based detection, Meta uses age estimation based on user activity and signals, as well as user reports, to help determine whether someone may be misrepresenting their age.
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