2min chapter

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DEAFBEEF and the Craft of Generative Art

Modern Finance

CHAPTER

How Does a Token Degrade in a Smart Contract?

The idea that we own an ftis is social consensus. It's a public ledger that says, ok, own quonquot this, nft. And so in the same sense, the idea that that the work has degraded is not real. Because just because a number in a smart contract has been incremented from zero to one or from one to two, it's by social consensus that we decide that means that this particular series three token has degraded many times compared to another one. That might influence its value.

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