Steemit Crypto Academy Season 2, Week 2- Post For @levycore
Hello prof,
I will like to congratulate you for being selected as a crypto professor.
Before I start with the question " Describe one popular project that uses NTF" let me explain what NTF is.
NTF can be define as a unit of data on a blockchain.
NTFs can not be replaced by anything, these makes them spercial or unique.The full meaning of NTF is Non - fungible tokens. NFT are used for digital files like videos, pictures and audios.
Now that we know what an NTF is let me go to the main question by describing one of it's popular projects.
I will be writing on CryptoPunks.
These are 24x24 pixel images which were created by using algorithms. They normally look like punky female and male and also few looks like alien, ape and zombie . There are only 10,000 cryptopunks in existence which are all unique non of them are the some. Cryptopunk is the first NFT to be created and was created by Watkinson and Matt Hall in the year 2017.
One can buy can by cryptopunks on ethereum blockchain. Initially when they were created they could be claimed for free on the ethereum blockchain but since it was free all the cryptopunks were claimed very fast . So now before you can get it you have to buy it from someone having it and is willing to sell it on the ethereum blockchain. Cryptopunks has four background pictures which are red, blue and purple all the colours has their meanings .
A cryptopunk with background colour red means that particular cryptopunk is for sale. cryptoPunk with blue background is not for sale, and the ones with purple colour has abid on it.
We have five(5) types of punks which are ;
*Alien
*Zombie
*Female
*Male
*Ape
Among the types of cryptopunks listed above male punks are the highest which is 6,039 followed by female punks which are 3,840 followed by zombie which is 88 in number then ape which is 24 and the least among them alien which is 9 in number.
There are several ways of buying a cryptopunk. The easiest way is to buy it on exchange platforms like coinbase.
Before you can buy a cryptopunk you need to have a plugin browser called MetaMask which you to have access to your your ethereum blockchain account if you have one.
You need some ether to buy the punks so if you don't have some ether in your account you will have to buy some since it is the accepted cryptocurrency used to buy a cryptopunk, you can get ether on all top exchanges example coinbase.
As I said earlier on the red background plunks are the ones for sell so you can place a bid for them.
- Everybody can have access to cryptopunk if only you have access to the internet.
- Cryptopunks are unique.
- Some of the crypopuncks are scarce.
- They are limited in number.
- They are expensive
I will conclude by saying investing in cryptopunks is very profitable since they are limited in number and scarce.
THANKS FOR READING MY POST
Hi @marwone, thank for submitting your homework.
Feedback
Kindly dig more information about cryptopunks
Rating : 4