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Nonce Finance Is The New NFT Company That Has Everyone Saying The Same Thing

by : Cameron Frew on : 05 Jul 2021 15:03
Nonce Finance Is The New NFT Company That Has Everyone Saying The Same Thing@0xPolygon/Twitter

Now, I’m getting the words… Nonce Finance, a new NFT company, has gone viral for its unfortunate name.

As per Investopedia, a ‘nonce’ is an arbitrary number that can only be used once in a cryptographic communication, and refers to the first number a blockchain miner must find before solving for a block in the blockchain. A nonce is considered rather difficult to find by crypto miners, often used as part of two-factor authentication and in other applications.

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Colloquially in Britain, a nonce is also another word for a paedophile, generally coined in an aggressive or derogatory manner. So, when a new NFT firm unveiled its name as Nonce Finance, the mocking began immediately.

Polygon, a cryptocurrency ‘protocol and a framework for building and connecting Ethereum-compatible blockchain networks’, recently announced its partnership with Nonce Finance, an ‘NFT fractionalisation protocol for collectors and creators’ that will ‘enhance the NFT trading experience’.

For those wondering what the hell an NFT is, it’s a non-fungible token. That doesn’t really help – it’s essentially a digital certificate authenticating one’s ownership of something, whether it be a tweet, a GIF, a piece of digital art or something else. They’ve garnered significant interest from investors, but from the outside it can all seem a bit pointless. You can read more about it here.

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Of course, Nonce Finance’s appeal to investors and experts in the market isn’t why it’s trending on Twitter – it’s the name. It’s a shame it has such a different definition outside crypto circles, but it’s also insurmountable.

‘You’re all mocking Nonce Finance but it shows a lot of confidence in their abilities that they think you’ll be willing to ignore the fact that their name implies they are paedophiles,’ comedy writer James Felton wrote. ‘Nonce Finance: finance so good you’ll soon stop asking… so why do you have paedophile in your name,’ he added.

‘Social media can be a horrible place sometimes and then it makes you aware that someone called their NFT company Nonce Finance and everything is forgiven,’ another user wrote.

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‘Lots of people are arguing with me that Nonce Finance is actually a good name because it also has a cryptography definition so you can ignore the paedophile stuff. I think they are being serious,’ another observed of the few people defending the name.

‘This firm are not only real, but specialises in NFTs, effectively buying the rights to images. I’d love to make a joke, but nothing I can come up with is funnier than the facts,’ a fourth wrote.

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Cameron Frew

Entertainment Editor at UNILAD. 2001: A Space Odyssey is the best film ever made, and Warrior is better than Rocky. That's all you need to know.

Topics: Technology, cryptocurrency, Viral