18/11/2021
Y Combinator (https://www.ycombinator.com/) is a community of over 6,000 founders.
A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger (blockchain).[1] NFTs can be associated with easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items (analogous to a certificate of authenticity), and use blockchain technology to give the NFT a public proof of ownership. Copies of the original file are not restricted to the owner of the NFT, and can be copied and shared like any file. The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin.
The first NFT project was in 2015 on the Ethereum blockchain.
Non-fungible tokens (NFTs), a type of digital asset, have exploded in popularity this year, with NFT artworks selling for millions of dollars.
All kinds of digital objects – images, videos, music, text and even tweets – can be bought and sold as NFTs.
NFTs can also be patches of land in virtual world environments, digital clothing, or exclusive use of a cryptocurrency wallet name.
The first tweet from Twitter boss Jack Dorsey – "just setting up my twttr" – sold for $2.9 million as an NFT in March.
Y Combinator created a new model for funding early stage startups. Twice a year we invest in a large number of startups.