Why Serena Williams’s NFT Scandal May Be Worse Than Fans Think

Serena Williams is an American skilled tennis participant who’s extensively considered one of many best athletes of all time. Since her first skilled tennis look in 1995, Serena has gone on to win a complete of 23 Grand Slam singles titles, 14 Grand Slam doubles titles and 4 Olympic gold medals, securing her place as one of the crucial profitable and completed tennis gamers of all time.

Whereas she announced her retirement last year, all through her profession, Serena was greatest identified for her highly effective serve and aggressive enjoying fashion. She is acknowledged as a trailblazer for ladies and folks of colour in tennis, breaking down obstacles and advocating for equal pay and equal alternatives within the sport.

Whereas Serena is usually within the information for different causes, resembling her marriage to her husband Alexis Ohanian, and her refreshingly honest takes about her body image wrestle. In 2022, she grew to become embroiled in a significant controversy associated to non-fungible tokens (NFTs), that are digital belongings that use blockchain know-how to certify possession of a novel piece of digital content material. The scandal uncovered bigger points surrounding the NFT market and has led to a broader debate in regards to the position of know-how within the artwork world. This is why her NFT scandal could also be extra critical than we initially thought…

What Are NFTs? And Why Are They Thought of To Be Controversial?

NFTs (non-fungible tokens) are a digital asset that makes use of blockchain know-how to confirm and certify possession of a novel piece of content material, resembling artwork, music, movies, or different kinds of digital media. Every NFT is a novel, one-of-a-kind piece of digital media that can not be replicated or exchanged for one more token of equal worth. They supply a approach for creators to monetize digital content material that was beforehand tough to promote, with the blockchain know-how permitting for the possession of the content material to be verified and tracked. This could improve the perceived worth of the asset.

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