The NFT's of JVR Rams

JVR Rams is also active in the NFT Industry. Rams has worked on a couple Non Fundigble Tokens, for example his song 'Oftheare' is available on OpenSea Link to 'Oftheare' single NFT at OpenSea He has also created some Cryptopunk NFT's. He created the first 'Arabian' Cryptopunk character, you can view the character here!

Why did Rams create an NFT? Well first of all let's explain the meaning of an NFT. NFT is a way of linking ownership to digital objects. Everything digital thus becomes a kind of irreplaceable digital artwork. This leads to interesting, wondrous developments. Why would anyone pay EUR 81 million for a 'digital picture'?

An NFT is a Non-Fungible Token: a non-exchangeable, irreplaceable digital certificate of ownership. You can create this certificate digitally and link it to a digital object (such as an image), which you then register in a blockchain (a public database). This registration is also linked to your own digital crypto wallet. Because you have a digital key (in your digital wallet) that belongs to the NFT, you can prove that the NFT is your property. The rest of the world can also see that you are the owner because the registration of your NFT is in the public blockchain. People can see that, but nobody can change that registration.

Translating the above complex text to the physical world, you have a certificate of ownership that lies in a glass vault to which only you have the key. Because you have the key, it is crystal clear that you are the owner. Because the safe is made of glass, everyone can see what is inside and everyone knows that you are the owner.

In short: An NFT is your own unique proof of ownership, authenticity and origin: you know for sure that you own the NFT and not someone else.

JVR Rams's Profile on OpenSea

With the help of NFT technology, someone can therefore 'appropriate' an image, an mp3, a video and so on. And when there is a collective agreement of what that 'ownership' means, scarcity can also arise and thus drive up the price. After all, this is how the economic law of supply and demand works. Digital objects become worth something because you only have one 'NFT copy' of them.

The whole NFT concept is special, because technically it has always been an enormous challenge to create scarcity in the digital domain. In the digital world, you can copy, multiply and share things with the greatest of ease. NFT technology radically changes this and thus creates a new value system. A value system in which even, with the approval of the creator, new creative options arise when the creator sells the exclusive licence of the copyrighted work along with it.