Byte, Justin Melillo, and How Snapchat Is Changing the World of NFTs

First technologies emerge, and then they converge. Blockchain and extended reality technologies have been knocking on one another’s doors for a while now and doors are starting to open. Two examples happened to take place just recently, both using Snap Lens Studio to create wearable NFTs. First, What’s an NFT? “NFT” is short for “non-fungible token.” While these words and letters are increasingly being thrown around by everyone from artists to technologists, the term’s roots are in fintech so we’ll forgive you if they’re not familiar. If you’re already on board, just skip ahead while we break up the acronym into “token” and “non-fungible.” “Token” comes from the blockchain world. Without getting too deep into that rabbit hole, a token is a unique string of characters that a computer comes up with, in the process of recording and packaging long strings of data. As a result, each token that is created is completely unique because of its having been created as a process and product of the blockchain. “Non-fungible” is a finance language for “one-of-a-kind.” Something that isn’t fungible can’t be replaced and one of them isn’t as good as another. Take any given physical coin, for example. It is…
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