Digital art is selling for stupid money. I can understand an original Rembrandt selling for millions, as there is only one of it and it cannot be reproduced in its original form.
With a digital picture though, anyone can have an exact copy and hang it on their wall. What is the point of owning the original? And apparently, you own the digital token representing the picture, but not the picture itself.
Yet, the market for ownership rights to digital art has boomed recently after several multi-million-dollar NFT sales. In March, Twitter founder Jack Dorsey sold his first ever tweet for the equivalent of $2.9m to a Malaysia-based businessman. And in April, the woman featured in the so-called Disaster Girl meme sold it for $500,000.
Here, an NFT was sold for $69M.
And some background
Personally, I didn't even know what an NFT is and that there is a market for such a thing.
To me, all that is not altogether clear, in fact it seems to me that you own thin air.
But then, the digital currency you pay for it only has value because… it has value. The demanding calculations you have to carry out to generate it are of no use to anybody, just a waste of time and energy.
This cat is confused
With a digital picture though, anyone can have an exact copy and hang it on their wall. What is the point of owning the original? And apparently, you own the digital token representing the picture, but not the picture itself.
Yet, the market for ownership rights to digital art has boomed recently after several multi-million-dollar NFT sales. In March, Twitter founder Jack Dorsey sold his first ever tweet for the equivalent of $2.9m to a Malaysia-based businessman. And in April, the woman featured in the so-called Disaster Girl meme sold it for $500,000.
Here, an NFT was sold for $69M.
Code:
https://www.theverge.com/2021/3/11/22325054/beeple-christies-nft-sale-cost-everydays-69-million
Code:
https://www.bbc.com/news/world-us-canada-58659667Personally, I didn't even know what an NFT is and that there is a market for such a thing.
To me, all that is not altogether clear, in fact it seems to me that you own thin air.
But then, the digital currency you pay for it only has value because… it has value. The demanding calculations you have to carry out to generate it are of no use to anybody, just a waste of time and energy.
This cat is confused
