Tech

What are NFTs & Crypto?

Published

2 years ago

June 1, 2022

avista

Cryptocurrency or cyber money has been around for a while and in recent years it has attracted many Black Americans.

However, the rise in popularity of the Non-Fungible Tokens (NFTs) has increased the interest of many existing and potential crypto investors. NFTs can be thought of as a subset of the crypto culture, and you generally need cryptocurrency (such as Bitcoin or an Ethereum) to buy and sell NFTs.

According to new research, 23% of African Americans possess Bitcoin, more than twice as many as white Americans (11%), and greater than those held by Hispanics (17%).

Many African American investors consider crypto investing a new path to riches and impartiality. It also enables them to enter the rapidly emerging field of NFTs, which is reshaping sectors such as music, collectibles, and gaming.

What is Cryptocurrency?
Also known as cyber money, cryptocurrency has been around for more than a decade. Unlike regular money, it’s not regulated by banks or the government. Instead it uses a type of cyber technology, called blockchain, which is like an online database that tracks the currency globally. The blockchain technology enables cryptocurrency users to make secure transactions.

What Is an NFT?
A non-fungible token (NFT) represents unique digital assets (like digital art, video clips or music) owned by a specific person. For many artists, it’s like a digital copyright. NFTs use blockchain technology to secure and track the item. Non-fungible assets are considered one-of-a-kind items that can’t be authentically replicated. The U.S. dollar bill is considered fungible because it carries the same value if it’s traded. Cryptocurrency is also considered fungible.

You can buy and trade NFTs online, using cryptocurrency (such as Ethereum). Even though they’ve been here since 2014, NFTs are gaining popularity because it gives digital artists a way to put value on their original material. The NFTs market alone was worth about $41 billion in 2021, which is getting close to the overall value of the combined global fine art industry.

NFTs have become hot commodities among investors, celebrities, entertainers, and athletes. According to National Public Radio, an NFT video clip of Lebron James attracted a $200,000 price tag.

Many African Americans see the NFT world as a way to build wealth. One example is 41-year-old Vakseen, a Black visual artist living in California. She became famous after accepting a bid of 8 Ethereums (about $16,800) for the first of six editions of a digital painting showing basketball legend Michael Jordan.
Vakseen’s work was also on show in a National Gallery of Technology (NFT) event showcasing Black artists throughout the world. The “Harmony & Balance” display was established to back the Black NFT artist community and was designed to look like a digital art museum. Vakseen was one of 30 Black artists that contributed over a 100 digital art pieces to the show. The artwork on display was estimated to be worth around $500,000.

Tech

Black Representation in Tech Careers

Published

2 months ago

October 14, 2023

avista

Black Life Texas

Can Spill App Steal Black Twitter Fans?

Published

5 months ago

July 12, 2023

BLT Staff

Watch out, Twitter – here comes Spill – a new social media app created by Black tech entrepreneurs and former Twitter employees giving Elon Musk a run for his money.

Alphonzo “Phonz” Terrell and DeVaris Brown created the application or app with culture in mind. According to the firm’s website, it’s a place where users can express their thoughts by easily combining text with images, video, GIFs and more. Using Spill, users can discover the hottest spills or “tea” and the latest trends worldwide and it’s a platform to discover and discuss culture.

And these former Twitter employees come with experience. Terrell is a Cannes Lion, Clio, OneShow and 2x Webby Award-winning creative executive, most recently having led the 27-person Twitter Social & Editorial team which won “Best Overall Social – Brand” at the 2022 Webby Awards. Brown is currently the CEO and co-founder of Meroxa. This venture capital-backed data application platform empowers developers to build data products using their existing infrastructure, tooling and workflows.

Atlanta Daily World says, “The social platform has garnered online buzz in the last week, with Black celebrities, including musician Questlove and actor Keke Palmer counted among its recent members.” Slate magazine also said the app’s “vibe is like a private hangout for Black Twitter transplants.”

Currently the invite-only app is only available to Apple users.

One user left a five-star review and said, “My wife told me about this app, knowing that I love being on social media. I’m on my phone 25/8 scrolling my feeds back and forth between apps. Now that I know about SPILL, I have all that I need in one place. As soon as you open the app, you are already immersed in the SPILL Universe and the features are aesthetically on point. The app features a “trending” section (where I love to be) to catch up on things going on for the culture and stay in the know. My feed is full of memes and gifs that keep my stomach hurting from laughter. It’s like Black Twitter 5.0! Crazy funny! I’m enjoying this app thoroughly!

Community

Families invited to experiment with new technology and STEM activities at Pearsall Park

Published

1 year ago

October 19, 2022

BLT Staff

SmartSA Sandbox offers fun, hands-on opportunities to test smart city technologies in the park

The City of San Antonio’s Office of Innovation is hosting SmartSA Sandbox, a family-friendly pop-up event that provides residents hands-on opportunities to test smart city technologies. SmartSA Sandbox at Pearsall Park is free and open to the public. The event will take place on October 22, 2022, from 10 a.m. to 2 p.m. The park is located at 4838 Old Pearsall Rd, San Antonio, TX 78242. A complete schedule of events is available at SAsandbox.eventbrite.com. Interested residents are encouraged to register in advance.

“The SmartSA Sandbox event is a great opportunity for families—especially kids—to experience innovative ideas and technologies firsthand,” said Brian Dillard, City of San Antonio Chief Innovation Officer. “Join us to share in the experience of SmartSA Sandbox and share your thoughts on what you want the future of San Antonio to look like.”

The family-friendly event will take place at Pearsall Park. It provides a child-friendly atmosphere with walking and biking trails, large playground and splashpad and a skate park. The location provides the space for individuals and families to interact with emerging technologies. The SmartSA Sandbox event features demonstrations on how to use 3D printers with Geekdom to robotics and coding from the San Antonio Museum of Science and Technology.

The event is family-friendly and will include workshops on developing technology and city-building activities facilitated by the DoSeum, YouthCode Jam, the University of Texas – San Antonio and Able.City, among others. Attendees can also enjoy music by DJ Mayhem and a closing hour with Emo Hero, an alternative cover band.