What does the reaction to NFTs tell us about how people evaluate ecological damage?
Recently, the Ethereum Foundation finalised the ERC-721 interface standard for Non-Fungible Tokens (NFTs). This standard lays out a protocol for the exchange and ownership of this new class of assets. An extremely simple explanation of the ERC-721 standard is as follows:
A blockchain is a decentralized ledger. It can contain things called smart contracts, which are like little computer programs. A smart contract can implement the ERC-721 interface, which means that it keeps track of variables called Non-Fungible Tokens (NFT). Each token has an owner, a unique identifier, and can be traded to other people. Each token can also include metadata information about the object it is representing.