Trade without dazzling .. The "NFT" billions of encrypted in a deferred investment - Al -Ittihad newspaper

Investigation - Amir Al -Alfi and Moataz Club

Are you ready to pay 69 million dollars for a digital panel that you can store on your phone or your computer? Before you think about the answer, you are here inside the world of encrypted sales or what is known as NFT which is not replaceable symbols..What is its story? From the question and the answer, “Al -Ittihad” opens this file, which is followed by the writer of the lines of this investigation throughout the year 2021, to monitor the NFT indicators that were destroyed by more than 23 billion dollars, according to the summary of the report submitted by the DAPPRADAR platform specialized in this technical field that has become the obsessionHis trade occupies Pal people who pay millions for him in the form of electronic digital contracts that revolve around paintings, cats, monkeys, sports games and artworks that some may describe as uncomfortable, as well as a short text message price of about 120 thousand dollars, all of which record the attendees in the virtual world book.

What is the NFT? The NFT is an abbreviation of Non-Fungible Token, or what can be simplified with "non-replaceable symbols", which are digital images, artworks, videos or audio clips that can be coded to issue a ownership certificate of its own, and it is available and prove their origin fromDuring a digital database known as "blockchain" and supports cryptocurrencies, such as "Bitcoin" and "Ethereum".These encrypted symbols cannot be replaced because you simply become desirable for unique digital origin.That is, these digital symbols become different from what is known in economics...You can exchange $ 10 in 5 papers..This is the case with any currency.According to the trader, these digital assets are difficult to manipulate because they are documented by the "blockchain" technology through records spread on thousands of computers around the world.

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Digital art follows the NFT in the world circles is an objective equivalent to what is known as "digital art", which prompted artists such as Graims and Steve Oki to earn millions of dollars;Thanks to that technique.Through these non -replaceable symbols, you can buy a digital panel that includes a set of pictures, such as the work that came under the title of everydeys: The First 5000 days or «All days: the first 5000 days», which was signed by the artist Mike Winkman, famous for the name of Bebo.People collected 5000 photos inside one digital panel since May 2007, to be sold via the "Internet" at an auction of the famous Christiese house of about 69.3 million dollars in March 2021 amid a follow -up of 22 million people and bidders from 11 countries.There are many things that accompanied this record for the Pepyl plate that is the first time that a major auction house presented a digital work for sale with an unnecessary symbol, which is the third highest price that any artist earns alive at the time of writing these lines, after Jeff Kunz and David Hawkni.It is also the first time that the encoded currency has been used for payment in exchange for an artistic work in an auction, which may rise with the ceiling of expectations for some to be the future of art and market it in new groups of the recipient audience.The NFT scene was not the unique in the world's follow -up to this digital painting, as Jack Dorsi, the founder of the micro -blogging site «Twitter», sold his first tweet written in March 2006: “I just prepare my account on Twitter”, for 2.9 million dollars in March 2021 during a public auction for charity.

Monuments, cats and games are limited to artistic works in noisy colors that are dominated by red and blue, but also include cartoon fees for a group of monkeys known under the name Bored Ape Yacht Club, and it is sold by millions of dollars.But a few days ago, the opposite of one of the pictures of the digital monkey group was that it was sold for 3000 dollars instead of 300 thousand dollars due to the error of writing a tenth mark that cost its owner a lot, as the listing price was about 0.75 Ether instead of 75.From monkeys to cats, the NFT is located, as the "Nian cat" with the cartoon cartoon is sold with a bodies of candy and flying, and it leaves a trace of rainbow colors, as it appears in the short video on YouTube at a price of more than $ 580,000.It was not limited to cats and monkeys, but the enthusiasts of electronic games are on a date with the NFT after Game Titan Ubisoft announced its new system to start its journey with this world by buying some of the elements that competitors need in exchange for paying digital currencies.Before that, the obsessed with the American basketball world was NBA and retained the most prominent video footage that monitors the players' struggle over the registration of their dribbling and throwing within the round network of up to more than one billion dollars until August 2021.The Wikipedia World List witnessed the entry of the founder of the "Wikipedia" website, Jimmy Wales, as Christie's auction House launched a personal computer that he was using at the launch of the electronic encyclopedia about 20 years ago, specifically in 2001, as well as the first page of the famous site when he wrote «Hello, World!».The PC of the famous site founder has reached its cost of about 187.500 dollars, while the first page Lukeepidia was valued at 750.000 dollars.According to the sale, the page will be interactive, and it will allow the buyer to "re -create a Wikipedia building experience", then "return to its basic state using a timer", according to Christie's, while Wales indicates that part of the auction proceeds will finance his WT project..Social, which is a "non -central and non -commercial social network without advertisements, tracking, data collection and misleading information".

The top of the famous words Collins, which allows his services to recipients through his website, revealed his annual list of the word of the year that his visitors searched for, and it consisted of 3 letters: the NFT, to become at the forefront at the top of 10 words in 2021.The NFT was among the 3 words to express technological terms that have become widespread in the new millennium that we live in, so the curiosity was present among those who ask to know other meanings, such as Metaverse and Crypto, and it revolves in the orbit of the three -dimensional virtual world and currency encryption.Over the course of 2021, attention prevailed in several regions of the world to search for the word NFT through the "Google" website, whose indicators reveal the top of China, Singapore, Venezuela, Hong Kong and the Philippines, while the topics related to this phrase were words including monkeys, encryption, metaphors, Mike Winsman, the owner of the paintingWhich was sold for about $ 69 million, in addition to the question about how to sell and buy the NFT..Reading Al -Mashhadiri Ahmed Esmat, Director of the Alexandria Media and Media Technology and Digital Transformation Forum, that 2021 is the year of unprecedented increase of NFT, documenting during his conversation with Al -Ittihad to the third quarter numbers that witnessed the size of a trade estimated at 10.7 billion dollars, and "this is a large number compared to the rate of appearance in 2017, it is a great enlargement".In a simple attempt to understand, Esmat reads the scene and indicates that he was and still had a Corona virus in 2021, which led to the influence of several areas, including arts, as well as the closure of many museums and exhibitions, and therefore there is a trend for those interestedIt is available through its markets like Opensea, and it is the largest market for that commercial technology.Proof of ownership and its authenticity of the acquisition prompted the adventurers to enter this digital world, as Esmat explains in his talk about the reason for some to buy, buy and acquire via the NFT, summarizing the matter in "the idea that every person will have a unique matter.".

An economic bubble? At the same time, Esmat touched on the example of the interest of technological companies and major countries such as China to enter this track, considering that «such things make people have a form of conviction of the subject, in addition to the idea of development and the fact that it is unique and encourages them toThat is, expected that the NFT will enter the world of "metaphors", a term presented by Mark Zuckerberg, known as wide fame after the inauguration of the Facebook site and the name of his company this year has changed to "Mita"..With a question, Esmat considered the matter a "economic bubble", he stressed that "there is no conclusive answer because the issue is still recent", and he was keen to present the opinions he reached through his research on this matter, pointing out that there is an opinion that the NFT is it“The future of monetary transactions, and the human being becomes the only owner, dominant and beneficiary, and another opinion that sees that they have many problems, including cryptocurrencies that depend on mining that causes high carbon emissions, and this is against the global trend of climate change.”.Esmat continues that the second part of the equation is that it is a rear door for money laundering and escaping from paying taxes, and a field to earn great profits, so it appears attractive to those looking for a quick profit and they invest in it, but they are deceptive to them, according to the opinions that discuss this matter.Beware of Wahmafi, the conclusion of his speech, Esmat presented his advice to the seller and the buyer to protect against fraud and fraud, saying: “We have to be careful of phantom stores and markets, learn about the correct links of websites, and to ensure the accuracy of the sales and purchase account data, especially the brokers, and this gives a kind of reassurance fromDuring finding websites that have specific requirements and fees that should be familiar with, knowing, which will be paid and identify market indicators, numbers, sales and product price on other stores ».

"YouTube Jeddah" Rami Abdel -Hay, the famous content maker of "YouTube Grandfather", decided to go to the heart of the Emirates capital, to be among those present at the "Bluechen World Festival in Abu Dhabi", so Al -Ittihad met him to start his talk about the NFT and the value of things sold through it, asThey attribute it to several matters, including the name of the artistic employer, such as Pebl, who sold his digital painting by 69.3 million dollars, in addition to the person's interest in paying a fee for obtaining this thing, and according to the markets' view of their prices, whether high or low.The content maker who has more than 29 million views of his YouTube channel since 2012 and the number of subscribers exceeds more than 500 thousand accounts, it is believed that the inquiry about the extent of interest in investment in the NFT is similar to a question about the feasibility of investing in the "Internet", considering that the matter isIt is linked to several axes related to the value of the artwork and its owner, and the change of opinions between the refusal on the pretext of "money laundering", and others support "their belief in technology", and their goal is "improving society", to conclude that point that the interest of the NFT can be determined through "how people deal with it".On the other hand, "YouTube's grandfather" laminated the hand of talking to comment about the criticisms directed at it about the harmful effects of the NFT on the environment, saying: "I do not have specific details, but the Ethereum as a currency the first thing that appeared was consuming huge amounts of electricity more than the current time."The attention of attention is currently in the formation of the use of improved technology that does not harm the world climbing.And set the example of those interested in the world of buying and selling via the NFT, explaining that they have awareness of the need to pay the costs of the damage to the environment as a result of these carbon fingerprints transactions.

Expectations and advice on his expectations regarding the spread of sale and purchase of this digital technology in the Middle East, considered that «the matter is a matter of time while looking at the different cultures in terms of less appreciation for content makers, painters and artists, and in my opinion that the NFT and (blockchain) solve these matters, as you have compensationBest material and your business is reserved through these technologies, and with time people will find that this technology will improve their lives. ”According to his point of view.He adds: “The blockchain and the NFT are somewhat similar to (the Internet) 20 years ago, and it returns to repeat,” providing advice that it is necessary to learn and know it with it.At the end of his speech, he warns against falling into the trap.The outstanding study, the economy expert specialized in digital currencies, believes that understanding this world and its various techniques, such as the NFT, needs knowledge and extensive study, stressing that despite his scientific specialization in this field for several years, he does not come to all its dimensions. “So what about the average person? ”.Raouf, who spoke to "Al -Ittihad", said that "it is like a number on a paper currency to become a bond that determines your ownership in the virtual world, and people currently do not understand the matter.".He talked about the investment feasibility of these digital technologies and what is related to selling and buying them..

Raouf expects, in his question, that there will be assessments of this virtual world, in that these stores are good or cannot be dealt with again.It is also expected that the investment in such technologies will be present, and a mining process will take place in relation to those digital currencies, and "there will be part of the purchase even even $ 100, and it will be a concrete currency in the future".Raouf explains the reason for the high sales numbers in the virtual world to millions of dollars, by saying: “They are new technologies, so people can not appreciate their real value now.” He considered that their rates of trading are exaggerated..Another thing is noticed by Raouf, so his comment was about what the entities that issue these currencies are explained, and he explains: “Countries issue regular currencies, while digital currencies depend on individuals and technology companies.”.He adds: «Who will control and occupy these digital currencies..The state or individuals and owners of technology companies? ”, Following another question:“ Who will accept this currency and its publications? ”.A new question that Raouf has been asked to summarize by saying: “Will he accept the world or reject these digital sales?”, To conclude with an answer to decompositionIt was rejected ».