Explained: Why some NFTs are so expensive
3 years ago

Explained: Why some NFTs are so expensive

The Hindu  

Nonfungible tokens burst onto the scene earlier this year when some of them started pulling in millions of dollars at auctions. "The buyer knows how many will be made and has blockchain proof of ownership," American billionaire and NFT collector Mark Cuban told online news portal Business Insider. "What we observed is that there is this gigantic heterogeneity in the success of NFTs," Andrea Baronchelli, associate professor in mathematics at the University of London and ATI's token economy theme lead, told DW. They looked at three components: the NFT's visual features, previous sales of related NFTs and the social network of the buyer and seller. "A very big difference between the art market and NFTs is that the artists take 10 to 20 per cent from the secondary sales," he said, "So anytime the piece will sell again, part of the sale will always go to the artist.

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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 …

NFTs now look headed the crypto way
2 years ago

NFTs now look headed the crypto way

Live Mint  

Non-fungible tokens have been all the rage. As with most things tech-oriented, many people bandy about new terms like ‘NFT’ without understanding how the technology works or what it is designed to do. Court cases and government actions over Napster’s software that allowed peer-to-peer sharing of song files forced that company to shut down in 2001, after a clumsy system …

Why are celebrities buying million-dollar ape cartoons? NFTs, explained
2 years, 10 months ago

Why are celebrities buying million-dollar ape cartoons? NFTs, explained

LA Times  

An NFT titled “Shift//” by Mad Dog Jones is displayed during a preview of “Natively Digital: A Curated NFT Sale” at Sotheby’s in New York City in June. An NFT enables people to declare, “This particular copy is the authentic original, and here’s who owns it.” Although NFT sales aren’t immune to fraud and other crimes, the tokens themselves are …

Are there reasons to be wary of music NFTs ?
2 years, 10 months ago

Are there reasons to be wary of music NFTs ?

Live Mint  

If you work in or adjacent to the music industry, it has become impossible to go a day without someone singing breathless paeans to the glorious future that awaits us thanks to non-fungible tokens and the coming crypto revolution. Swarathma released audio rarities, merchandise, live experiences and exclusive animated artwork as part of an NFT collection That last promise—as well …

NFT sales hit $25 billion in 2021, but growth shows signs of slowing
2 years, 11 months ago

NFT sales hit $25 billion in 2021, but growth shows signs of slowing

The Hindu  

From cartoon apes to video clips, sales of NFTs reached some $25 billion in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar shows, although there were signs of growth slowing towards the end of the year. The art world has been quick to cash in, with auction houses selling NFTs representing simple cartoons for …

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 …

NFT Sales Reach $10.7 Billion in Q3 2021 As Crypto Asset Frenzy Hits New Highs
3 years, 2 months ago

NFT Sales Reach $10.7 Billion in Q3 2021 As Crypto Asset Frenzy Hits New Highs

News 18  

NFT sales volume surged to $10.7 billion in the third quarter of 2021, up more than eight-fold from the previous quarter, according to data from market tracker DappRadar, as the frenzy for crypto assets reached new highs. Since then, no known NFT has come close to this price, but auction houses still hold NFT sales, often fetching millions. However, despite …

NFT sales surge as speculators pile in, sceptics see bubble
3 years, 3 months ago

NFT sales surge as speculators pile in, sceptics see bubble

The Hindu  

Non-fungible token sales surged in August, according to the largest platform for the burgeoning digital asset class, as speculators bet growing interest across the art, sport and media worlds will keep prices rising. Reuters found one NFT representing an image of a cartoon ape that was sold on OpenSea for 39 ETH - the cryptocurrency ether -last week, by an …

Explainer: As international market for it booms, what determines the price of an NFT artwork?
3 years, 6 months ago

Explainer: As international market for it booms, what determines the price of an NFT artwork?

Firstpost  

This July, the Prinseps auction house in Mumbai is set to open their new season with an offering of non-fungible tokens artworks by the Bengali modernist Gobardhan Ash and Oscar-winning costume designer Bhanu Athaiya’s fashion sketches. The move piggybacks on an international boom in the NFT art market, which broke into the mainstream when a digital art piece by Beeple …

Artist Beeple on selling NFT collage for a record $70M: 'People are trying to look for some scam; I don't see it'
3 years, 8 months ago

Artist Beeple on selling NFT collage for a record $70M: 'People are trying to look for some scam; I don't see it'

Firstpost  

Beeple, whose real name is Mike Winkelmann, spoke with AP about his auction result, NFTs and how the crypto art boom is affecting him and other artists who haven’t previously had a way to guarantee exclusive ownership of digital works, which by their nature can normally be freely copied. The Associated Press caught up with Beeple, whose real name is …

What is an NFT, and why does John Cleese want to sell you his for $69.3 million?
3 years, 8 months ago

What is an NFT, and why does John Cleese want to sell you his for $69.3 million?

Salon  

"Monty Python" actor John Cleese wants to sell you the Brooklyn Bridge. That's because an NFT is like a virtual trading card that comes "tagged" with digital proof of authorship and ownership. "Domain names, event tickets, in-game items, even handles on social networks like Twitter or Facebook, are all non-fungible digital assets," Devin Finzer, CEO of the NFT marketplace Open …

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 …

Explained: What Is Non-Fungible Token aka NFT and Why Is It So Popular Suddenly?
3 years, 9 months ago

Explained: What Is Non-Fungible Token aka NFT and Why Is It So Popular Suddenly?

News 18  

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. While anyone can view the NFTs, the buyer has the status of being the official owner – a kind of digital bragging rights. …

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 …

$69 million for digital art? The NFT craze explained
3 years, 9 months ago

$69 million for digital art? The NFT craze explained

LA Times  

Before there was Beeple, there was William Shatner. Known as NFTs, such tokens have taken off in recent weeks in what’s either an ecologically destructive speculative bubble or a promising new funding model for art and media, depending on whom you ask. The NFT file doesn’t contain the digital piece of art, or the video clip, or the Shatner card …

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 …

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