Proudly Serving Virginia

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Virginia NFTs Since 2022

Securely Track File Assets

There has always been the need to purchase file assets such as images, documents, audio, video, game files while securely maintaining ownership.  This is where NFTs come in to fill that void and utilize the blockchain to record the ownership and transactions.

What you will find though is that most NFTs hold the ownership to the file.  The purchaser simply receives a link to file.  So who really owns the file?  The NFT?

Virginia Customers

Some information I know about Virginia is I believe the state was admitted or ratified to the United States around or about 'June 25, 1788'.  Virginia is located around latitude '37.926868' and longitude of '-78.024902' and has a population of roughly '8,631,393 million'.  If I remember correctly the capital is 'Richmond' and the largest city is 'Virginia Beach'. 

NFT Technology

The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.  NFTs can be created by anybody, and require few or no coding skills to create.  NFTs typically contain references to digital files such as photos, videos, and audio.  Because NFTs are uniquely identifiable assets, they differ from cryptocurrencies, which are fungible.

An NFT is a unit of data, stored on a type of digital ledger called a blockchain, which can be sold and traded.  The NFT can be associated with a particular digital or physical asset such as images, art, music, and sports highlights and may confer licensing rights to use the asset for a specified purpose.  An NFT (and, if applicable, the associated license to use, copy, or display the underlying asset) can be traded and sold on digital markets.  The extralegal nature of NFT trading usually results in an informal exchange of ownership over the asset that has no legal basis for enforcement, and so often confers little more than use as a status symbol.

NFTs function like cryptographic tokens, but unlike cryptocurrencies such as Bitcoin or Ethereum, NFTs are not mutually interchangeable, and so are not fungible.[a] NFTs are created when blockchains concatenate records containing cryptographic hashes—sets of characters that identify a set of data—onto previous records, creating a chain of identifiable data blocks.  This cryptographic transaction process ensures the authentication of each digital file[clarification needed] by providing a digital signature that tracks NFT ownership.  Data links that are part of NFT records, that for example may point to details about where the associated art is stored, can be affected by link rot.

If at any point you decide to reach to me just know the area codes I am familiar with for Virginia are '276, 434, 540, 571, 703, 757, 804'.  For Nft assistance you will find my rates very reasonable for Virginia.  Now just keep in mind my time zone is 'Eastern Standard Time (EST)' and I know the time zones in Virginia are 'Eastern Standard Time (EST)' in case you wish to call me.  Anyway let me continue.

File Assets

NFTs have been used to exchange digital tokens that link to a digital file asset.  Ownership of an NFT is often associated with a license to use such a linked digital asset but generally does not confer the copyright to the buyer.  Some agreements only grant a license for personal, non-commercial use, while other licenses also allow commercial use of the underlying digital asset.

Syndicated Content

I added new funtionality to NFTs for the storage of Syndicated Content which is news or any other content which web sites consume for quality content.

Speculation

NFTs representing digital collectables and artworks are a speculative asset.  The NFT buying surge can be compared it to the Dot-com bubble.  By mid-April 2021, demand subsided, causing prices to fall significantly.  Part of that enthusiasm has come from the extreme predictions being made about NFTs.  For regulatory policymakers, NFT has complicated challenges such as speculation, fraud, and high volatility.

You know, I don't make it out to Virginia much but I would like to see the 'Cardinal' state bird.  I am a little familiar with the Virginia 'Dogwood' state flower as well.  However, I do not know much about Virginia's state tree the 'Flowering Dogwood'.  Fishing is fun to me perhaps I would like reeling in the Virginia 'Brook Trout' state fish.  Anyway, sorry I went off topic.  Let me continue.

Money Laundering

NFTs, as with other blockchain securities, can potentially be used for money laundering.  NFTs are often used to perform 'Wash Trading' by creating several different wallets for one individual, generating several fictitious sales and consequently selling the respective NFT to a third party.

Auction platforms for NFT sales may face regulatory pressure to comply with anti-money laundering legislation.  Gou Wenjun, the director of the Anti-Money Laundering Monitoring and Analysis Centre for the People's Bank of China, expressed that NFTs could "easily become money-laundering tools." Gou elaborated that there is increasing unlawful exploitation of various new cryptographic technologies and that illicit actors often self-identify as innovators of the financial technology sector.

Rug Pulls

A rug pull is a scam promotion of a crypto token via social media.  After the price has been driven up, the scammer sells, and the price generally falls to zero.  In 2021, a rumor spread about a "real" rug pull of an NFT.  On the blockchain, NFTs (non-fungible tokens) are links to the digital art stored somewhere else.

Ok, that is it from my perspective.  You should now have a good idea of what NFTs are and what to be suspicious and cautious of.