THE FRIENDLY GIANTS
THE FRIENDLY GIANTS
Jun 18, 2022 - Jun 25, 2022
Marketplace: OpenSea OpenSea
Blockchain: Ethereum Ethereum

The Giants are releasing a limited edition NFT collection on the Ethereum blockchain, which will be available for purchase on a leading NFT marketplace. The collection features unique, hand-drawn illustrations of each Giant, capturing their individual personality and spirit.

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Explanation of the Key Terms

NFTs

Non-Fungible Tokens (NFTs) are digital assets that are unique and indivisible. They are built on blockchain technology and use smart contracts to verify ownership and transfer of the asset. NFTs can represent anything from digital art, music, videos, to virtual real estate and game items. Unlike cryptocurrencies, each NFT has a unique identifier and cannot be exchanged for another NFT or cryptocurrency. NFTs have become increasingly popular in recent years, with some selling for millions of dollars at auction. They have also opened up new opportunities for artists and creators to monetize their digital content and retain ownership of their work. NFTs have the potential to revolutionize the art and creative industries, providing a new way for creators to connect with their audiences and monetize their creations.

Ethereum Blockchain

Ethereum blockchain is one of the most well-known blockchain networks and is specifically designed to support decentralized applications (DApps) and smart contracts. Launched in 2015, it is a decentralized, open-source blockchain platform that allows developers to build their own decentralized applications on top of it. The network's native cryptocurrency, Ether (ETH), is used to power transactions on the network and is also used to pay for transaction fees and smart contract executions. One of the most significant advantages of Ethereum is its ability to support NFTs or non-fungible tokens. NFTs are unique digital assets that represent ownership of a particular asset or piece of content, such as artwork or music. Ethereum's smart contract functionality enables the creation and trading of NFTs on the blockchain, leading to a revolution in the digital art and collectibles space.

Blockchain

Blockchain technology is a decentralized and distributed digital ledger that allows for secure and transparent transactions without the need for a centralized authority. It is a chain of blocks that contains information that is verified and validated by a network of nodes, making it tamper-proof and immutable. Blockchain is not just limited to the financial sector, but its applications are vast and include supply chain management, voting systems, and more. The technology provides transparency, security, and efficiency to various industries, enabling businesses to cut costs and improve customer satisfaction. As blockchain continues to evolve, its potential to revolutionize industries and disrupt traditional business models will only grow.

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