A to Z of NFTs at Collision Toronto
On June 23rd, two Goodmans summer students attended the Collision Conference and participated in a session entitled “The A to Z of NFTs with the Knowledge Society”. In this presentation, two sixteen-year-olds (yes, you heard that right) described what NFTs (non-fungible tokens) are and created one from scratch live on stage.
Aleeza Jahan and Anya Singh participate in an innovation program for high school students called The Knowledge Society. Utilizing their interest in emerging technologies, they explained how NFTs act as unique digital assets based on block chain technology which cannot be interchanged or replaced. Some key takeaways from the session are listed below:
- The digital smart contracts governing the exchange of NFTs ensure that artists can retain ownership rights and royalties after sale
- $37 billion has changed hands in the NFT marketplace already in 2022; and
- NFTs have already begun attracting considerable profit in the consumer goods space, particularly for fashion companies like Nike.
After outlining the key characteristics of NFTs (ownership, transparency and rarity), the presenters demonstrated how to list an NFT for sale on OpenSea, an NFT marketplace. All proceeds from the newly listed NFT were directed to an organization called Girls Who Code, which Anya and Aleeza are particularly passionate about.
Author: Shea Neals
Photo Credit: https://unsplash.com/@dengxiangs
Expertise
Insights
-
Technology
TikTok Cleared to Continue Canadian Operations Following National Security Review
The Government of Canada (the “Government”) has concluded its most recent national security review of TikTok, the popular short-form video platform owned by Chinese technology company ByteDance Ltd… -
Technology
Confined Space Robotics Awarded $1.5M Contract to Automate Blast and Paint at Seaspan Shipyard
Confined Space Robotics (“CSR”) has been awarded a $1.5 million contract by Seaspan Shipyards to develop and integrate abrasive blast and paint robotic systems at Seaspan’s Vancouver shipyard. Seaspan… -
Technology
OpenAI and US Department of Defense Agree to Terms for AI Deployment in Military Settings
OpenAI has announced a deal with the United States Department of Defense (the “DoD”) that will allow the United States military to deploy advanced artificial intelligence systems within classified… -
Technology
Reinventing Cement: CURA’s Path to Reducing CO₂ Emissions
Global average atmospheric carbon dioxide (“CO₂”) concentrations have climbed roughly 25 percent since 1980. This is largely driven by fossil fuel combustion and intensifying wildfires, as the… -
Technology
Carbon Robotics’ Large Plant Model Brings Real-Time Plant ID to Laser Weeding
Carbon Robotics, the Seattle startup behind the LaserWeeder – a robot fleet that uses lasers to eliminate weeds – has introduced a new AI system called the Large Plant Model (“LPM”). The company says… -
Technology
Etsy to sell Depop, Gen Z’s Favourite Hub for Vintage Clothing, to eBay This Year
According to a recent article from TechCrunch, virtual retailer Etsy is selling Depop, Gen Z’s preferred online platform for buying and selling vintage clothing, to eBay for US$1.2 billion in…