NFT Bead Collection

NFT Bead Collection
Your Portal to John Theodore Kiapos' (JTK's) Private NFT Collection

What Is an NFT?

An NFT (non-fungible tokens) is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

Although they've been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. A staggering $174 million has been spent on NFTs since November 2017.

NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. "Essentially, NFTs create digital scarcity," says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.

This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it's in demand.

But many NFTs, at least in these early days, have been digital creations that already exist in some form elsewhere, like iconic video clips from NBA games or securitized versions of digital art that's already floating around on Instagram.

For instance, famous digital artist Mike Winklemann, better known as "Beeple" crafted a composite of 5,000 daily drawings to create perhaps the most famous NFT of the moment, "EVERYDAYS: The First 5000 Days," which sold at Christie's for a record-breaking $69.3 million.

Anyone can view the individual images-or even the entire collage of images online for free. So why are people willing to spend millions on something they could easily screenshot or download?

Because an NFT allows the buyer to own the original item. Not only that, it contains built-in authentication, which serves as proof of ownership. Collectors value those "digital bragging rights" almost more than the item itself.

What You Need To Know About Non-Fungible Tokens (NFTs), by Robyn Conti, Contributor and John Schmidt, Editor, FORBES ADVISOR, May 14, 2021, 12:17pm

NFT Bead Collection offers a unique selection of personal creations of John Theodore Kiapos available for the most discriminating collector:
JTK Art       JTK Mechanical Designs & Patents       JTK Button Art       JTK Bead Art
JTK Music       JTK Poetry       JTK Videos       JTK Software & Code       JTK Web Pages
JTK Product Packaging (Vintage and New)       JTK Unique Pictures       JTK Mystical Manifestations
Feel free to browse our incredible collection to add to yours.

HOW TO CREATE YOUR OWN NFT ART