Collectors of digital NFTs see a market worth the risk
3 years, 6 months ago

Collectors of digital NFTs see a market worth the risk

Live Mint  

They are technology enthusiasts on the hunt for opportunities in the Wild West market surrounding NFTs: the popular certified digital objects that have spawned a new generation of collectors convinced of their huge potential. NFTs - "Non-Fungible Tokens" -- are digital objects such as drawings, animations, pieces of music, photos or videos, whose authenticity is confirmed by blockchain technology, preventing forgeries or manipulation. 'Not easy to digest' It was that same guarantee of authenticity that drove Devan Mitchem, a Singapore-based cloud engineer, to begin collecting digital objects, after at first being skeptical because of the "inconsistent formats, marketplaces and storage options." Those who "flood in the market without doing their research and not even making an effort to understand NFTs," he said, "will be the ones who will most likely be burned."

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History of this topic

Are NFTs still as valuable as they used to be? | Explained
1 year, 2 months ago

Are NFTs still as valuable as they used to be? | Explained

The Hindu  

The story so far: A crypto gambling platform, dappGambl, which looked at tens of thousands of NFT collections concluded that most of them were worth close to nothing. WWF UK said it was ending the trial and noted NFTs were a “much debated issue.” dappGambl looked at 195,699 NFT collections which did not seem to have any owners or market …

Dutch police seize NFT's for the first time ever
2 years, 8 months ago

Dutch police seize NFT's for the first time ever

NL Times  

Police cybercrime investigators in Oost-Nederland seized cryptocurrency and non-fungible tokens as part of its investigation into the widespread trade in private data. It marks the first time that a Dutch investigative service seized NFTs, the police said in a statement. "Because NFTs represent value, they can be taken as the proceeds from criminal offenses, as normally happens with expensive cars …

Non-fungible tokens: What is it and how does it work? Experts try to explain
2 years, 11 months ago

Non-fungible tokens: What is it and how does it work? Experts try to explain

India Today  

If you have read the news about Vodafone set to sell the world’s first-ever SMS as NFT then there are good chances that you are browsing to know what NFT is and why there is a sudden hype around it. NFT gives them a chance to showcase their work and make money from it,” Kashyap says as tries to convince …

As NFTs are being sold by the likes of Amitabh Bachchan, what exactly are they?
2 years, 11 months ago

As NFTs are being sold by the likes of Amitabh Bachchan, what exactly are they?

Live Mint  

Some time ago, Amitabh Bachchan made an announcement to launch his own NFT collection to roll out poems, autographed posters and several other souvenirs. He was the first, but surely not the last, Bollywood actor to leverage blockchain technology and use it to launch his own digital assets. Non-fungible token, or an NFT, includes a unit of data stored on …

What is an NFT and how does it work? The ‘bitcoin for art’ explained
3 years ago

What is an NFT and how does it work? The ‘bitcoin for art’ explained

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chris Torres, the artist who first created Nyan Cat, recently ‘minted’ a new GIF of the famous …

What are NFTs and why is Bollywood going gaga over them
3 years, 1 month ago

What are NFTs and why is Bollywood going gaga over them

India Today  

Many in India are only beginning to get a grasp on cryptocurrencies like Bitcoin and Dogecoin. Designer Manish Malhotra, actor Sunny Leone, Vishal Malhotra, music producers Ritviz and Nucleya, all seem to be carrying the torch for NFTs in India. What we can understand right now is what these NFTs are, what value they hold in the online world and …

NFTs supplant Rolexes and Lambos as the new digital savvy flex
3 years, 3 months ago

NFTs supplant Rolexes and Lambos as the new digital savvy flex

LA Times  

People look at an NFT by Ryoji Ikeda titled “A Single Number That Has 10,000,086 Digits” at Sotheby’s during a pre-auction viewing. “What is happening right now is the equivalent of me hearing that a major contemporary painter has sold something for millions of dollars and I, someone with no art skill or experience, say, ‘Well I guess I better …

Sotheby's hosts first NFT sale where artist Pak's 'The Fungible' collection sells for $16.8 million
3 years, 8 months ago

Sotheby's hosts first NFT sale where artist Pak's 'The Fungible' collection sells for $16.8 million

Firstpost  

NFT stands for non-fungible token, an authentication certificate meant to ensure that ownership of a digital work — animations, videos, photos or music, for example — cannot be forged or otherwise manipulated. Sotheby’s hosted its first sale of art supported by NFTs, the trendy authentication technology, by artist Pak, with the works bringing in $16.8 million, the auction house said …

NFTs are suddenly everywhere, but they have some big problems
3 years, 8 months ago

NFTs are suddenly everywhere, but they have some big problems

CNN  

CNN Business — For several weeks, it’s been near impossible to exist on the internet without at least hearing a mention of NFTs. “The system will not work if simply the first person to mint an NFT for a digital asset gets acknowledged on the blockchain as its owner,” said Neil Daswani, co-director of Stanford University’s Advanced Security Certification Program. …

NFTs are Confusing Everyone, But the Newest Internet Token is Raking in the Memes
3 years, 9 months ago

NFTs are Confusing Everyone, But the Newest Internet Token is Raking in the Memes

News 18  

What is an NFT? The first NFT album was ‘Kings of Leon’s ‘When You See Yourself.’ After art and auction houses, news organizations and galleries So what really, really is an NFT? James Murphy, CEO of Future Fallout, writes that ‘just like a concert ticket symbolises the ownership of the space of a seat in the concert arena, and a …

'Big Short' investor Michael Burry shares quote slamming NFTs as 'magic beans' sold by 'crypto grifters'
3 years, 9 months ago

'Big Short' investor Michael Burry shares quote slamming NFTs as 'magic beans' sold by 'crypto grifters'

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. He recently changed his Twitter banner …

The Digital NFT Art Craze That's Earning Some Creators Millions
3 years, 9 months ago

The Digital NFT Art Craze That's Earning Some Creators Millions

Huff Post  

LOADING ERROR LOADING LONDON — A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at auction this week for nearly $70 million. Why don’t we have property rights in the digital world?” Some NFT issuers give full copyrights to the buyer, though others do not. In December, the first extensive auction of his art brought in …

As Beeple's digital art piece sells for $70 million, understanding the craze behind NFTs
3 years, 9 months ago

As Beeple's digital art piece sells for $70 million, understanding the craze behind NFTs

Firstpost  

London: A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at auction this week for nearly $70 million. In December, the first extensive auction of his art brought in $3.5 million, an eye-catching amount that was surpassed by this week’s record-shattering sale of his collage Everydays: The First 5,000 Days for nearly $70 million, paid in …

EXPLAINER: What’s this craze for ‘NFTs’ all about, anyway?
3 years, 9 months ago

EXPLAINER: What’s this craze for ‘NFTs’ all about, anyway?

Associated Press  

LONDON — A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at auction this week for nearly $70 million. NFTs confirm an item’s ownership by recording the details on a digital ledger known as a blockchain, which is public and stored on computers across the internet, making it effectively impossible to lose or destroy. Why don’t …

How NFTs are fueling a digital art boom
3 years, 9 months ago

How NFTs are fueling a digital art boom

CNN  

Editor’s Note: This article was updated following the auction of Beeple’s “Everydays: The First 5000 days,” which sold for $69.3 million. But until now, people hadn’t figured out a good way to collect digital art – and NFTs allow you to do that,” Cock Foster said on a video call, adding that buying tokens is easier and “a lot more …

NFTs Are a Collective Hallucination—So What?
3 years, 9 months ago

NFTs Are a Collective Hallucination—So What?

Wired  

Have you had a shot yet? Eventually, the winner paid $3,666,666 in US dollars for what 3Lau called “the first tokenized album.” Bidder 65 now has unique access to the song, which others one day might hear for free. Currently, Christie’s is auctioning digital work by the artist Beeple, whose pieces look like Lucien Freud designing for Pokémon. That was …

What the Heck Are NFTs, and Why Are Grimes, Lindsay Lohan, and the Guy Who Made Nyan Cat Selling Them?
54 years, 11 months ago

What the Heck Are NFTs, and Why Are Grimes, Lindsay Lohan, and the Guy Who Made Nyan Cat Selling Them?

Slate  

You know Nyan Cat? Take the art that Grimes sold: The digital images and short videos she put up for sale—and which went for prices as high as $389,000—are freely available on the web, so you don’t really have to “own” anything to view and appreciate the art, nor did buying one get you something like a canvas or other …

Explainer | NFTs are hot. So what are they?
3 years, 9 months ago

Explainer | NFTs are hot. So what are they?

The Hindu  

Non-fungible tokens, a type of digital asset, have exploded in popularity this year, with NFT artworks selling for millions of dollars and musicians such as the Kings of Leon rock group embracing them for their latest album. WHAT KIND OF NFTS EXIST All kinds of digital objects - images, videos, music, text and even tweets - can be turned into …

NFTs Boom as Collectors Shell Out to ‘Own’ Digital Art
3 years, 9 months ago

NFTs Boom as Collectors Shell Out to ‘Own’ Digital Art

Wired  

It started with CryptoKitties. Each image was associated with a unique string of digits—a cryptocurrency “non-fungible token,” or NFT—that could be traded on the Ethereum blockchain platform as a title deed granting the holder ownership of a particular kitty. Its end point is an auction that started on Thursday, in which a token associated with a digital collage of 5,000 …

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