28/02/2022
Hello roofers.
We are pleased to announce that today our label officially jumps into the NFT world.
What is an NFT?
"Non-Fungible Token. Without complicating matters too much, the noun Token indicates the presence of a set of digital information that characterises a given file. But the adjective Non-Fungible is much more important.
Let us start, for convenience, with its opposite. A fungible asset is a replicable and replaceable asset, lacking "a specific individuality". A 10-euro banknote can be replaced by any other 10-euro banknote, as long as it is authentic and undamaged. In a supermarket, a bottle of a certain wine, from a certain winery and of a certain year is the same as another bottle of the same wine, from the same winery and of the same year. And in fact they cost the same. However, there are also non-fungible asset, which may look the same but which in reality are not. Like, for example, an authentic painting and every copy, however accurate it may be. An original carries with it an idea and a story that no copy can ever repeat.
NFTs are therefore 'digital information' that makes the file they are associated with have its own uniqueness and individuality. In the case of digital works of art, this means that they are signed by their author, who thus recognises their authenticity and can transfer ownership if necessary. It means that they are rare and therefore in a way more valuable, as are "limited edition" things.
You can find our virtual shop on loudmarket.com.
Roof records takes a small step into the NFT world and the metaverse. Is this the future?
