In his monthly crypto column, Israeli series founder Ariel Shapira highlights new technologies in cryptography, decentralized finance (DeFi), and blockchain, and their role in shaping the economy in the 21st century.

When one tries to study the economics of non-fungible tokens (NFTs) as it has crystallized in recent months, two main trends can be seen. On the other hand, there is a whole new market that allows different artists to join the new creative economy – the creators of Bored Ape Yacht Club, all kinds of pixel art creators and creative luminaries, makers of long-necked women paintings, sales of which the artist, who is 12 years old, what Approximately 1,394 Ethers (ETH), equivalent to $6 million at the time of writing.

But the truth is that NFTs are much more than that. Take, for example, one of the first significant NFT sales, when Jack Dorsey sold his first tweet that appeared on Twitter for what was then worth about $2.9 million. This NFT gained value, but in fact, the assimilation itself as an NFT retained a kind of legacy.

On the day when Twitter goes online or the old text platform disappears, as many sites that were part of web logs and simply vanished, only sites for which someone has created economic value beyond symbolic value will remain. A unique value that represents itself and makes the preservation of traditions and heritage a sustainable process.

Garry Kasparov makes NFT
Former World Chess Champion Garry Kasparov, the man who has held that title longer than anyone else, has decided to digitize his legacy and turn vast chapters from his past into NFTs.

“My investment in NFT with 1Kind reflects my commitment to taking on new challenges and working with new and exciting technologies,” says Kasparov. “From AI to cryptocurrency to blockchain, I have always believed that innovation is the only way forward. Right from the start, we have worked closely to not only create unique objects, but also a completely new way to use NFT to tell a story. With a real story behind it.”

One of Kasparov’s interesting features is his interest in human-machine interfaces. Kasparov is arguably the most famous chess player of all time, the youngest to win a world championship, and also the longest-running World Chess Champion.

But in fact, his struggles with supercomputers earned him worldwide fame. Kasparov has repeatedly won modern chess computers, but his loss in 1997 to the IBM Deep Blue computer became a turning point and symbolized the fact that artificial intelligence could match and even surpass human intelligence. On a symbolic level, it was this loss that connected Kasparov’s fate with the development of the digital age.

Related: Without Quantum Security, Our Blockchain’s Future Is Uncertain

Now, with the NFT project, which Kasparov launched together with the 1Kind platform, he is once again changing the basic concepts – heritage, heritage and history. Kasparov seeks to create a digital presence for the various chapters of his past, thus creating a legacy that does not depend on exhibitions, exhibitions or history books. Items, paintings and paintings depicting his past, he passes through the NFT not to support any creative economy, but, like Dorsey’s tweet, to preserve the legacy before it fades and reach more people interested in preserving that legacy. As Kasparov explains:

“For the first time, all of life will turn into NFT – my life. I wanted to share not only my games and my successes in chess, but everything that shaped me and my legacy both on and off the chessboard.”

A new chapter with perseverance in legacy
To this day, unique books, museums or tours are needed to document the heritage. But all this requires extensive and long-term support – after all, the museum cannot control itself and needs support from taxpayers or unique funds. But when Kasparov publishes his legacy in the NFT, he is decentralizing legacy preservation. It encourages collectors to participate not only in its heritage, but also in its preservation. At the most basic level, if Kasparov himself disappeared from human consciousness, these genetic things would lose their value. So the interest of the person involved in the sale will be the same as that of Kasparov himself. Take care of the heritage and present it to as many people as possible.

“The deeply personal nature of this project is evident throughout NFT. My family and childhood, my rise as a chess champion and world title, and my explorations of politics, education, writing and speech. Documents and objects that never existed before. What audiences saw includes my personal notebooks and family photos. Cast includes

Source: CoinTelegraph