WHAT IS AN NFT?
NFT stands for non-fungible token. NFTs are digital assets that have a unique identity recorded in an database. Fungible means replaceable or replicable, so a non-fungible token is a unique, one of kind item. In other words, an NFT is a special piece of internet content that’s been permanently recorded. This record allows the creator to keep track of who owns it as its bought, sold or traded from person to person and even benefit from those sales.
An NFT can be a piece of art, a 3d model, music, a video or anything that lives in digital. NFTs can also be associated to a function, as is the case with a Utility token or Utility NFT. A Utility NFT will have a special bit of code in it that allows the owner to gain access to special perks. Things like event tickets, digital download codes and coupons etc, can coded to into utility tokens.
WHY DO WE CARE ABOUT THEM?
NFTs have become popular in recent years, marking a new area in the digital distribution marketplace. With Cryptocurrencies, Blockchain technology and the Metaverse gaining in prominence, the world of art and music have changed forever. For content creators NFTs provide a new means for distributing their art while also protecting their content from copyright infringement, and loss of royalties due to exploitative business practices.
The Source Vibrations team have an abiding interest in the intersection of creativity, technology and the evolution of consciousness and culture and see the developments of the blockchain as a key resource for the betterment of all human kind – if used properly. It is a technology that has the potential to democratize and safeguard many areas of life that have become dysfunctional due to the breaking down of outmoded structures.
This period of crisis and the disillusion of the social and technological milieu, is an important part of the growth process for our world. It will have profound effects on how we engage in the world, from banking, to commerce, to civics and more relevant to us, intellectual property and copyright law.
We are in the midst of a phase shift in the culture’s collective paradigm. Multiple fronts are reaching a transition point simultaneously creating a moment of broad sweeping systemic transformation. This is a wonderful thing, and we intend to participate fully in this transformation and the new technologies that drive it. In fact its the burning flame in the candle of my heart since the Source Vibrations project was created nearly 2 decades ago.
Below are the NFT collections that we’ve created to participate in this wonderful creative revolution.