Minted NFT coins turn Ether cryptocurrency into a collectible art

As if cryptocurrencies weren’t confusing enough, here’s something that mixes it up with NFTs and the Metaverse, too.

The Metaverse might be the big buzzword right now, thanks to many companies like Meta, formerly Facebook, trying to push their vision to the masses, but there was a time not too long ago when there was a different tech craze gripping the world. Cryptocurrencies, especially Bitcoin, hit mainstream media hard to the point that even lawmakers were starting to scramble and struggle to make sense of it all. Non-fungible tokens, or NFTs, a cousin of these blockchain-based digital entities, also took the world by storm, particularly in art and design circles where this new kind of ownership still remains a bit controversial. Almost cooking up a perfect storm, a designer and artist duo are bringing all these together into an NFT that almost makes cryptocurrencies a bit more approachable or at least more visible.

Designers: Ben Vessey and Mark Jenkins of Minted

Although they are always associated with money, cryptocurrencies are difficult for most people to grasp, particularly because these aren’t exactly represented as anything but incomprehensible numbers and letters. When people think of money, they will at least think of figures separated by commas or dots. To make the connection with something that is familiar, most people will think about paper bills or coins. The Cryptocurrencies have changed everything. But NFTs, the Metaverse and other NFTs offer a chance to change things a little.

A form of blockchain is an NFT. However, unlike cryptocurrency, they are non-transferable. That means it can be sold and traded, like digital equivalents of physical goods, but they’re often associated more with supposedly rare digital artworks that sell for thousands to millions of real-world dollars. NFTs don’t always have to be artwork, though, and can actually be used for anything that has a digital representation, including, in this case, NFT coins.

Minted was conceptualized as an answer to the question of what Ether, the currency for the Ethereum platform, would look like if it were an actual coin. A Minted coin, which is similar to an NFT, will be unique digital artifact. However, they will have Ether value. The coins will be available in Ether denominations of 0. 1, 0. 2, 0. 5, 1.0, 2.0, and 5. Each coin, however, will be “handcrafted” and unique, so they still retain the unique value, even if they just look like digital coins. These coins will be distributed via Ethereum because that is the only way Ether can have value.

Minted does not make crypto, as it is called, easier to understand and approach. Minted does, however, make them more easily understandable and accessible. This could lead to a greater understanding of the new technologies and concepts. This is also an effort to outwit governments in the creation of NFTs associated with cryptocurrency currencies. It is ironic that cryptocurrencies were designed to centralize asset distribution, so it makes sense that a single entity, such as a government, would try to co-opt them to be the new centralized bottleneck for these systems.