A non fungible Token(NFT) is a unit of data stored in a blockchain. The NFTs are proof of ownership of easily reproducible digital assets, i.e., photos, videos, and other digital files. Because NTFs are on Ethereum blockchain, other people can’t alter, pirate, steal or change the contents of the digital asset. The digital asset owners will always have full rights to it until they decide to sell the NFTs. In 2021, NFTs have increased in popularity as more artists and influencers join the NFTs movement. Also, 2021 has recorded the biggest NFTs sold in the NTFs history. Here are some of the most expensive sales of all time.
Cryptopunk was the first NFT in the Ethereum blockchain. It was a project by Lava studio in 2017 as an inspiration for the crypto art movement and the Non Fungible Token standard ERC -721 standard for NTFs. CryptoPunk depicts scenes from London punk, several of William Gibson’s novels, and the electronic music duo Daft Punk. Currently, the most valuable CryptoPunk are:
- # 7804 valued at USD 7.68 million
- #3100 valued at USD 7.68 million
- #5217 valued at USD 5.47 million
- #7252 valued at USD 5.34 million
- #2338 valued at USD 4.38 million
Everyday’s – The First 5000 Days
Christie House, an auction house, held its first auction on 25th Feb for digital art collectibles. The auction house was selling digital art made by Beeple and featured daily artworks made daily since May 2007. The digital collection is a collage of 5000 digital images created from May 2007. Thus, the first 5000 days. The NTFs sold for $69 million, putting Beeple in the top three most expensive artists.
The First Twitter Tweet
The founder of Twitter, Jack Dorsey, sold his first tweet as an NTF for $2.9 million. This tweet was created in 2006 and read, “just setting up my twttr.” Sina Estav, the boss of Bridge Oracle, bought the NTF onto which Jack Dorsey had signed and verified. This $2.9 million was donated as charity to aid the poor in Africa as Covid- 19 relief programs.
The Best I Could Do
The best I could do is a creation by Justin Roiland, a Rick and Morty co-creator. Roiland sold his digital artwork as NTFs through the Nifty Gateway auction house and sold the artwork for $1.65 million. In his Twitter feed, Roiland tweeted that he is testing the boundaries of Crypto art.
The Crossroad is Beeple’s digital artwork that sold for $6.6 million at the Nifty Gateway. Nifty Gateway is an online auction for Crypto art. The Crossroad shows President Trump lying down after losing the 2020 presidential election. Currently, it is Beeple’s most expensive single digital NFT artwork.
Are NFTs Good Investment?
NFTs open possibilities that never existed. If you are an artist or a content creator, NFTS gives you a marketplace to sell your work. Because the blockchain makes your work unique, they are safe and secure from copywriting infringements and piracy. The NFTs also connect collectors and buyers from different parts of the world since the marketplaces are online. They are the future of digital ownership.
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