Pause/Play hosts Elizabeth McQueen and Miles Bloxson decided the best way to understand NFTs was to create one themselves.
hosts Miles Bloxson and Elizabeth McQueen decided to do a mini-season of the podcast explaining NFTs — how they work and what they could mean for Austin music.“We decided the best way to understand music NFTs was to write and record a song and mint it as an NFT on the blockchain,” Bloxson said. A blockchain is a digital ledger where entries can be added only at the end. Once something is put on a blockchain, it can’t be removed until the blockchain is taken down.
As long as nodes exist on a blockchain, all the data on a blockchain exists. This is why many people say blockchains are “forever.”A smart contract is code within an NFT that tells the blockchain the function of an NFT. Smart contracts can let people know who the owner of an NFT is, what the NFT points to and what will happen if the NFT is sold.