CRYPTOCURRENC

Y&NFT(popular Digital assets)

What is Cryptocurrency?
A cryptocurrency (or crypto currency) is a
digital asset designed to work as a medium of
exchange using cryptography to secure the
transactions and to control the creation of
additional units of the currency.
Conventional vs Digital Currency
Conventional vs Digital Currency
Why use Cryptocurrency?
Risks
• Hackers. Cryptocurrencies are targets for highly sophisticated
hackers, who have been able to breach advanced security systems.
• Fewer protections. If you trust someone else to hold your
cryptocurrencies and something goes wrong, that company may not
offer you the kind of help you expect from a bank or debit or credit
card provider.
• Cost. Cryptocurrencies can cost consumers much more to use than
credit cards or even regular cash, often due to price volatility.
• Scams. Fraudsters are taking advantage of the hype surrounding
virtual currencies to cheat people with fake opportunities.
• Lack of Transparency. The anonymous nature of cryptocurrencies
make transparency and accountability difficult for consumers seeking
to ensure the safety of their investments.
Types of Cryptocurrency
Example : Bitcoin
• Both a cryptocurrency and an electronic payment system
• Satoshi Nakamoto in 2008
• First decentralised payment network
• System is peer-to-peer
• 21 million bitcoins
• Completely Open source
• 1BTC = $1258.48
Bitcoin Technology
NFT EXPLAINED
Wha t Non-fungible tokens or NFTs are a
type of digital token where every
Are token is different an d h old unique
characteristics.

NFT s ? Due to the nature of the NFTs, ma n y

NFTs have varying rarity and are
considered valuable in the digital asset
community. Anything from games
to painting and even m e m e s can be
an NFT.
Ke y Indivisibility

Cha r ac ter ist ic s of O w n ersh i p

NFT s Uniqueness

Rarity

Transparency

In terop erab ility

 Can Anyone C rea te
NFT s ?
Technically, anyone can create NFTs, however, that
does not m e a n that all NFTs will get a high value
during the sale.

Many NFT marketplaces allow any user to create their

o w n NFTs, but the users need to have a reputation
within the c o m m u n i t y to earn a good value for their
work.

A higher social me d i a presence an d a fan base are

the highest factors in determining an NFTs value.
 U s e Ca s e s of
NFT s
NFTs can help digital artists or any type of artist to fight
plagiarism as they can tokenize their creations, w h ic h
can’t be copied.

Luxury goods can be verified ma k in g t h e m NFTs and

giving ownership to the buyer only.

Manufacturing companies can tokenize their products

in order to offer provenance to their consumer base.
 U s e Ca s e s of
NFT s
Institutions can offer NFT based certifications
and licenses, to authenticate a person’s
educational background.

Games can tokenize in-game items for players

and give t h e m ownership over those items.
 Ho w Safe Ar e
NFT s ?
The security level of NFTs is similar to any type of digital
asset and very close to cryptocurrencies.

All of the NFTs are stored on the blockchain platform

where the ledger is immutable, ma k in g it impossible to
delete or alter the ownership.

Blockchain offers robust security protocols an d eliminates

the scope of cyber-attacks.
 Security
Flaws ( m i s t a k e s )
Recently, Nifty Gateway was attacked by third parties
an d they stole millions of dollars of worth of art. Nifty
Gateway could ultimately return the items to respectful
owners.

Security issues within user authentication are the m a i n

source of recent cyber-attacks on NFTs.

Users not using multi-factor authentication processes a nd

using weak passwords or PINs are leading to these
security issues.
Whe r e to B uy
and Sell NFT s ? OpenSea

There are many NFT marketplaces Su p erR are

where uses can go to buy and sell
NFTs. S om e of these are –
Rarible

Nifty
Gateway
NFT

NF N
N
F
F
T
T
Mintable
T
N F T
N F T
N F T
N F T
N F T
N F T
N F T N F T

NFT NFT
N F T N F T

N F T N F T N F T
N F T
N F T
N F T N F T N F T
N F T

N F T N F T N F T
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N F T N F T
 Whe r e to B uy and Sell
NFT s ?
To buy a nd sell on NFT marketplaces, users need to
create an account a nd connect their wallets to the
account.

Different marketplaces have different supported

cryptocurrencies. The most popular currency currently
is Ethereum. Users can use Ethereum to buy NFTs.

To buy Ether/Ethereum or any other crypto, users have

to get a blockchain wallet a nd fund it through a fiat-
to- crypto currency exchange.
 List of Pop ula r NFT
Sale s
EVERYDAYS: THE FIRST 5000 DAYS CRYPTOPUNK #3100 CRYPTOPUNK #7804
This artwork is a compilation of the first It is a pixelated alien art im age with a It is a pixelated alien art im age with a cap
5000 digital artwork of Beeple. headband. forward, a small shade, and a pipe.

PRICE SELLER BUYER DATE OF SALE PRICE SELLER BUYER DATE OF SALE PRICE SELLER BUYER DATE OF SALE

$69.3 Beeple Metakovan March 11, $7.58 Anonymous Anonymous March 11, $7.57 Anonymous Anonymous March 11,
M 2021 M 2021 M 2021

THE FIRST TWEET CROSSROADS

It's the very first tweet of CEO and It is a short political art video on the
founder of Twitter, Jack Dorsey. presidential election 2020 from Beeple.

PRIC SELLER BUYER DATE OF SALE PRIC SELLER BUYER DATE OF SALE
E E
Jack Dorsey Sina Estavi March 22, Pablo Anonymous February 25,
$2.9M 2021 $6.6M 2021
 Wh y A r e NFT s So
Pop u la r ?
NFTs started to b e c o m e mainstream in 2017,
b ut not until 2020, d i d w e see a massive
surge in NFT popularity.

O n ly d urin g Q 1 20 21, th e in d ustry resulted in

$1.5 b illion in tran sac tion s, w h ic h is
2,627% more com pa r e d to Q4 2020.

NFTs are more fluid an d flexible comp a r e d

to other cryptocurrencies such as
Ethereum, or Bitcoin. One can transform
any type of asset into an NFT.
 Wh y A r e NFT s So
Pop u la r ?
Users can lose, break or destroy physical assets or
collectibles, bu t NFTs can’t be destroyed or stolen. Once a
user gets ownership, they can o w n it forever.

NFTs are a different take on digital assets, w h i c h is quite

innovative an d easier for non-technical people to
understand a nd take part in.

No one can duplicate NFTs, thus, third parties can’t misuse

the intellectual property of an artist.
References:
*www.Investopedia.com
*www.coinbase.com
*www.theverge.com
Conclusion
Cryptocurrency is an impressive technical achievement, but it remains a
monetary experiment. Even if cryptocurrencies survive, they may not fully
displace fiat currencies. As I have tried to show in this presentation, they provide
an interesting new perspective from which to view economic questions
surrounding currency governance, the characteristics of money, the political
economy of financial intermediaries, and the nature of currency competition .