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B: So: NFTs! Blockchain was created to act as a ledger for cryptocurrency transactions, but we’ve already talked about how you can write more than just transaction information to it. You can add all kinds of things to it — even pictures — but it’s more common to just add metadata that points to something off the blockchain because it takes up less space.
A: Why would you want to do that?
B: Well, let’s say I wanted to sell my house for 10 Bitcoin…
A: Hold on a second. How much is that in money I actually understand?
B: Uh… the exchange rate fluctuates, but at the moment that comes to a little under $380,000 (USD).
A: That seems low.
B: That’s because your point of reference is Silicon Valley, where the average cost of a house is over $2 million. In the rest of the US, $380,000 is solidly in the “more money than I have at any given time” category.
B: So in this example, I want to sell my house for 10 bitcoin, which comes out to about $380K.
A: Still seems low.
B: Stop hanging out with billionaires!