Financial Services

Non-Fungible Tokens (NFTs): You Never Forget Your First Time

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Would you trust an electrician who lived in the dark? A plumber who didn’t have indoor running water? A digital asset subject matter expert and program manager who didn’t own a non-fungible token?

Toward solving that last one, I thought it would be helpful for our readers to see step-by-step, my screen as I acquired my first NFT.  Hopefully, readers will see what an actual NFT is, and after seeing how easy it is to acquire one, be inspired to obtain their own NFT.

My opportunity came via email from the Baseball Hall of Fame in Cooperstown, New York, as I have been a supporting member for many years. The email is shown below:

1

Clicking on the hyperlink just before they thank me for being a Museum Member prompted the following screen:

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Note from the URL, that we are not in a Hall of Fame site, but in a Candy site, affiliated with Major League Baseball.

Nothing too scary so far. No water rushing from a broken pipe. Nobody’s dying from electric shock.

I click on the Register button in the top left, where I provide my name and email address, and agree to the Terms of Use, bringing me to the screen below, which is the same as the first screen, but now has my name in the upper right-hand corner:

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Scrolling down the screen brought up the all-important “Redeem Ticket” button, shown below:

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Selecting “Redeem Ticket” brought up the following half screen:

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Now you see the price I paid, which is just about in my price point. Clicking on the “Redeem Ticket” brought up the next screen shown below:

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Still, no one is dying from electric shock and there is no water overflow. Double-clicking on the “View Your Ticket” link brought up the following screen:

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There it is. The left-hand side of the screen above is the most beautiful NFT you have ever seen (don’t all fathers think their baby is the cutest one ever?). Scrolling down just a little reveals:

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My baby NFT was born on July 21, 2022. It is the 1,366th NFT of this type ever born. Not exactly a limited edition, but who knows, because the number to be made of this type is shown as “TBD.” What is my first-ever NFT worth? Well, clicking on the “List of Marketplace” button reveals:

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The identical twins of my new NFT are available for as low as $100. $100 for my brand-new-clicked-on-everything-myself-and-it-didn’t-take-9-months NFT? I think I’ll keep it.

As the proud owner/father of this most beautiful NFT, selecting “View Details” brought up the NFT following Social Security card equivalent, the NFT’s token ID:

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One final thing is the welcoming email below that came, so I can view my beautiful NFT whenever I want:

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I am now an official electrician, plumber, NFT owner.

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For help understanding these and other digital assets, reach out to Perficient’s Financial Services team here.

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Carl Aridas

Carl is certified in the Scaled Agile Framework (SAFe), a Scrum Master, and a Six Sigma Green Belt project manager with more than 25 years of experience in financial services overseeing large-scale development global, multi-currency accounting, regulatory reporting, and financial reporting software platforms. He has hands-on experience completing, reviewing, and filing Federal Reserve, FFIEC, and IRS reports, including Call Reports, Y9C reports, 2900 reports, TIC reports, and arbitrage rebate reports.

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