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Crypto Terms:  Letter G

What is Geotagged NFT?

Meaning:
Geotagged NFT - 3D version of street art with corresponding coordinated to the physical location of said street art.
medium
2 minutes

Let's find out Geotagged NFT meaning, definition in crypto, what is Geotagged NFT, and all other detailed facts.

A geotagged non-fungible token (NFT) is a type of NFT that includes the geographic coordinates of a specific street art along with its 3D rendering.

Geotagging involves extracting precise metadata about the global positioning of the art. This includes the exact coordinates and an accurate digital rendering or other related digital media, like websites or videos.

Non-fungible tokens, or NFTs, are digital assets that possess unique value. They do not possess a tangible, physical form and can be traded like other crypto tokens. NFTs follow the Ethereum ERC-721 standard. Each NFT comes with a certificate of authenticity or a digital token that verifies the ownership of the asset.

While some NFTs are digital collectibles with no real-life equivalent, geotagged NFTs provide a unique spin. Each geotagged NFT has an equivalent piece of street art somewhere in the world.

The coordinates of the location are included in the NFT along with the digital representation. This provides the owner of the NFT with ownership over the actual artwork. The owner of the NFT can then choose to resell the physical art piece and transfer the ownership of the street art itself.

Geotagged NFTs are considered non-invasive and provide artists with the opportunity to put their works for sale without having to physically relocate them. Collectors are able to own street art from anywhere in the world since the technology that NFTs are built on is decentralized.

The original art remains completely intact after the purchase while the digital reproduction allows street artists to monetize their works efficiently.

Each geotagged NFT is unique and contains different geospatial metadata, like coordinates and altitude. If someone were to sell an NFT of artwork on the East Side Gallery in Berlin, Germany, the coordinates would be 52.5050° N, 13.4397° E.

Geotagged NFTs provide a niche opportunity for crypto enthusiasts and collectors to bring real-world data into digital technologies. This connects the digital and real-life art worlds and creates a new meaning of ownership for both the artists and the NFT owners.

While the owner inherits the right to keep or sell the NFT as they wish, the artists are eligible to receive royalties each time the NFT is resold to a new owner.

C++ and Python of the <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum protocol.<\/p>\n<p>As the official Ethereum customer, Geth is the most protected way to be an active partaker in the network. Even though there are public node suppliers, the protection of an individual node is at risk with them. If they choose to process their own, private Ethereum node, using Geth - the data, as well as the network, are going to be protected.<\/p>\n<p>With a private node, users will obtain a replica of the entire Ethereum blockchain, against which they will attempt to authenticate exchanges and transactions. Besides, this makes the security even more prominent because the bigger amount of private nodes are there, the less likely that successful malicious acts will occur.<\/p>\n<p>Blockchains as well as cryptocurrencies are very secure as a result of their <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-peer-to-peer-p2p/">peer-to-peer type of network in which node operators collaborate and take place in safeguarding the network.<\/p>\n<p>Besides, Geth is the simplest and the most available way for a developer or an investor to process a full Ethereum node. Since they have a user-friendly interface, Geth gives developers the opportunity to generate accounts in a quick manner and begin adjusting and upgrading the Ethereum network <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-code/">code./n

Without the Geth interface, the Ethereum network might not have been as successful as it is today. Processing full nodes is a significant obligation for the blockchain to be active and successful.<\/p>\n<p>As an entirely open-source project, Geth provides developers with the foundation of Ethereum and access to work on eliminating <strong>bugs<\/strong> and making improvements. All source codes can be accessed on Github. In fact, developers contain free access to these codes, and they can view as well as write permissions.<\/p>\n<p>At the moment, there are over 400 individuals who have participated in the works of the Ethereum blockchain code. A few of them, obviously, are more involved than others, so people like Jeffrey Wilcke and P&eacute;ter Szil&aacute;gyi are seen as the most important partakers since they have written the biggest parts of the code.<\/p>\n<p>Furthermore, node operators are in charge of allowing transactions and making it feasible to transmit and receive ETH in general.<\/p>\n<p>All in all, if there was no such software as Geth, running a full Ethereum node could have been way more complicated.<\/p>","definition":"or Go Ethereum is a command-line interface that gives developers the ability to process full Ethereum nodes, carry out smart contracts and mine the cryptocurrency.","status":"published","meta_title":"What is Geth? Definition & Meaning | Crypto Wiki","meta_description":"Geth meaning: Geth - or Go Ethereum is a command-line interface that gives developers the ability to process full Ethereum nodes, carry out smart contracts and mine the cryptocurrency.","meta_keywords":null}" :prev-section="{"id":374,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Blockchain#Blocks","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-12-07T05:27:44.000000Z","slug":"what-is-genesis-block","title":"What is Genesis Block?","section":"G","keyword":"Genesis Block","content":"<p><strong>Genesis block<\/strong>, block 0, or block 1, is the first block that starts a new <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-blockchain/">blockchain. In many cases, the genesis block is hardcoded into the blockchain application software.<\/p>\n<p>After the genesis block, all new validated <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-block/">blocks that usually contain transactions and other activity data are attached via a \"chain\", forming the blockchain. Despite the name, there is no actual chain binding the blocks together. However, they all contain data that references the previous block and derive their value from the preceding blocks.<\/p>\n<p>The genesis block is the only one that does not contain any reference to a predecessor block by design. In most cases, the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-mining-reward/">mining rewards<\/strong><\/a> unlocked from validating and processing the genesis block are considered unspendable.<\/p>\n<p>As the name suggests, genesis blocks form the foundation of blockchain technology. The <strong>first-ever genesis block<\/strong>&nbsp;was mined on 9 January 2009 and marked the beginning of not just blockchain technology but also cryptocurrencies, specifically <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin./n

The genesis block of Bitcoin contained the message \"The Times 03\/Jan\/2009 Chancellor on brink of second bailout for banks\" which referenced the global financial crisis. The Bitcoin genesis block contained a reward of 50 BTC.<\/p>\n<p>The genesis block was created by <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//who-is-satoshi-nakamoto/">Satoshi Nakamoto<\/strong><\/a>, an <strong>anonymous entity<\/strong> (or entities), also known as the creator of Bitcoin. There have been some questions and speculations regarding the six-day interval between the time quoted in the genesis block message and its actual date of release.<\/p>","definition":"the first validated data block that starts a new blockchain.","status":"published","meta_title":"What is Genesis Block? Definition & Meaning | Crypto Wiki","meta_description":"Genesis Block meaning: Genesis Block - the first validated data block that starts a new blockchain.","meta_keywords":null}" :model="{"id":375,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Non-fungible_token","level":"medium","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-12-07T02:46:33.000000Z","slug":"what-is-geotagged-nft","title":"What is Geotagged NFT?","section":"G","keyword":"Geotagged NFT","content":"<p>A <strong>geotagged non-fungible token (NFT)<\/strong> is a type of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-non-fungible-token-nft/">NFT that includes the geographic coordinates of a specific street art along with its 3D rendering.<\/p>\n<p>Geotagging involves extracting precise metadata about the global positioning of the art. This includes the exact coordinates and an <strong>accurate digital rendering<\/strong> or other related digital media, like websites or videos.<\/p>\n<p>Non-fungible tokens, or NFTs, are digital assets that possess unique value. They do not possess a tangible, physical form and can be traded like other crypto tokens. NFTs follow the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-erc-721/">ERC-721 standard. Each NFT comes with a certificate of authenticity or a digital token that verifies the ownership of the asset.<\/p>\n<p>While some NFTs are digital collectibles with no real-life equivalent, geotagged NFTs provide a unique spin. Each geotagged NFT has an equivalent piece of street art somewhere in the world.<\/p>\n<p>The coordinates of the location are included in the NFT along with the digital representation. This provides the owner of the NFT with ownership over the actual artwork. The owner of the NFT can then choose to resell the physical art piece and transfer the ownership of the street art itself.<\/p>\n<p>Geotagged NFTs are considered <strong>non-invasive<\/strong> and provide artists with the opportunity to put their works for sale without having to physically relocate them. Collectors are able to own street art from anywhere in the world since the technology that NFTs are built on is <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-decentralization/">decentralized./n

The original art remains completely intact after the purchase while the digital reproduction allows street artists to monetize their works efficiently.<\/p>\n<p>Each geotagged NFT is unique and contains different geospatial metadata, like coordinates and altitude. If someone were to sell an NFT of artwork on the East Side Gallery in Berlin, Germany, the coordinates would be 52.5050&deg; N, 13.4397&deg; E.<\/p>\n<p>Geotagged NFTs provide a niche opportunity for crypto enthusiasts and collectors to bring real-world data into digital technologies. This connects the digital and real-life art worlds and <strong>creates a new meaning of ownership<\/strong> for both the artists and the NFT owners.<\/p>\n<p>While the owner inherits the right to keep or sell the NFT as they wish, the artists are eligible to receive royalties each time the NFT is resold to a new owner.<\/p>","definition":"3D version of street art with corresponding coordinated to the physical location of said street art.","status":"published","meta_title":"What is Geotagged NFT? 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He&rsquo;s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain &amp; Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? 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The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens 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Cryptocurrencies?","status":"published","modified_content":null},{"chapter_id":7,"order":2,"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","status":"published","modified_content":null},{"chapter_id":7,"order":3,"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","status":"published","modified_content":null},{"chapter_id":7,"order":4,"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","status":"published","modified_content":null},{"chapter_id":7,"order":5,"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","status":"published","modified_content":null},{"chapter_id":7,"order":6,"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","status":"published","modified_content":null},{"chapter_id":7,"order":7,"slug":"what-is-a-perpetual-contract","title":"Perpetual Contracts: Futures Contracts Without an Expiration 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Mining?","status":"published","modified_content":null},{"chapter_id":9,"order":3,"slug":"what-is-staking-crypto","title":"An Advanced Look into What is Staking Crypto","status":"published","modified_content":null},{"chapter_id":9,"order":4,"slug":"what-is-proof-of-stake-vs-proof-of-work","title":"Proof-of-Work VS Proof-of-Stake: The Differences That Matter","status":"published","modified_content":null},{"chapter_id":9,"order":5,"slug":"what-is-crypto-mining-rig","title":"Crypto Mining Rig: What It is and How to Build One?","status":"published","modified_content":null}]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/crypto-101-glossary.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}]" current-chapter="G" current-section="what-is-geotagged-nft">