It also means that, like any investment, its value can increase or decrease in the future depending on the circumstances. This means a Non Fungible Token cannot be swapped for any equivalent value.
Its value is then much harder to determine, as it’s no longer simply worth five 20 dollar bills. If this 100 dollar bill is signed by Banksy, it becomes a totally unique product. A detail from Beeple’s “Everydays - The First 5000 Days,” a collage of digital images that was “minted” as a “nonfungible token” (NFT) and sold for $69.3 million. If we think of it in terms of money: a 100 dollar bill can be swapped for five 20 dollar bills and still hold the same value, which means a 100 dollar bill is a fungible token. NFT stands for ‘Non Fungible Token’, but what does that mean? Well, it helps to first understand what a ‘Fungible Token’ is. An NFT can be any type of digital file: an artwork, an article, music or even a meme such as “Disaster Girl”, the original photo of which sold for $500k earlier this year. What is NFT art?Īn NFT is a digital asset that exists completely in the digital universe-you can’t touch it, but you can own it. As a graphic designer and artist, I’m here to ask, “What’s in it for me?” Let’s begin with a definition. Its recent rise in popularity has promised to revolutionize the creative industry. From platforms like TikTok and Twitter to CNN News, the trending topic has left millions wondering, what is it and how can it work for me? In the last 4-5 months, NFT talk has literally broken the internet. There he says, he developed portrait drawings for the watermark of American dollar bills and for the Mexican passport, the Mexican 100-peso note, and for other countries, including Colombia and Thailand.If you haven’t yet heard of NFT’s or NFT art, I suggest taking a look at your wifi connection.
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He returned to Brazil in 1978 where he worked on the development of a new series of bank notes, and in 1990 relocated to Crane Currency in Massachusetts for two years.
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There he learned how to produce stamps and portraits applying his personal technique of intaglio engraving. Two years later he went to Stockholm to study with Czesław Słania, Sweden’s chief engraver and an old mentor he first met Rio. He was an apprentice for six months, learning that the “tools become extensions of your hands and fingers.”Īt 21 he moved to Rome to study numismatics at La Zecca, Italy’s National Mint and Printing House, where he learned all the processes of bank note production from security paper to intaglio. He started at the Casa da Moeda do Brasil in Rio at age 16 when he won the first place in the civil service exams. Irreverent and well trainedĭespite his irreverence, Bosco is a serious intaglio engraver. A total 10 of this specific piece are printed, each serially-numbered.Īmong his creations, Bosco’s 100-neuro note, unlike real euro currency, depicts a real bridge, Venice’s Bridge of Sighs.Īnd on another piece, for the face value, a Brazilian note sports 100 irreais, or 100 unreals. The watermark is of the promenade at Rio’s Copacabana Beach. In the upper left corner is a scene that, instead of showing Giacometti sculpting, Bosco says, shows the sculptor counting money, as a statement against corporations. It features a portrait of Swiss sculptor Alberto Giacometti, with his face composed of coins, a clock in the middle of his forehead, and a lozenge holograph. One of the artist’s personal favorites is based on a Swiss 100-franc note but is jointly attributed to the Banque Nationale Suisse and the fictitious Carioca Multi Bank. One of the seals is that of the Rio de Janeiro Federal Reserve Bank branch (which does not exist). example is a $0 Federal Reserve note with Uncle Sam on the face and the Gold Bullion Depository at Fort Knox, Kentucky, on the back.