Some buy a Picasso, others a tweet: the fever of the NFTs and its potential revolution of digital art (Clear the X # 131)
Some are willing to pay $ 2.5 million for the first tweet. Or $ 600,000 for the Nyan Cat meme. Huge amounts for digital content that is all over the web. It’s the NFT fever (Non-Fungible Tokens), a technology associated with blockchain and cryptocurrencies that allows memes, images, videos and digital works of art to be sold as if they were physical.
Of the NFTs and their potential revolution of art and digital collecting We talked in the last episode of Clear the X, in which we participate Javier Pastor (@javipas) and Enrique Pérez (@lyzanor), editors of Engadget. The production runs, as always, by Santi Araújo (@santiaraujo).
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Memes sold for millions of dollars
Why is a painting by a certain artist worth one amount and another’s a totally different amount? And a signed poster, record, or sticker, how can we be sure it’s an authentic signature? These are questions that we could ask ourselves with physical objects, but that with digital content acquire a new dimension.
To try to create a unique mechanism that gives validity and recognition to digital content NFTs arrive. A concept that may be abstract but in fact has been with us for several years and in recent months has achieved enormous traction, with millionaire sales such as those of Beeple The CryptoPunks, but also to a lesser extent all transactions of platforms such as Valuable, which allow us to sell our tweets.
In just a few months, NFT platforms have gone from a few transactions to moving files and works worth hundreds of millions of dollars, mainly through ETH.
The NFTs pose a revolution at the level of distribution and monetization of digital art, although there are also voices of discord who express their doubts.
Is the boom we are experiencing justified? A) Yes Explain the Cent project the benefit and the logic behind buying digital content through NFTs:
“Owning any digital content can be a financial investment, have sentimental value and create a relationship between the collector and the creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it rare, unique, and valuable. “
We are facing a technology that does not intend to replace what we already had, but to become an additional route. Some tokens that For many digital creators, it is already a real revolution in their way of working.
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