Sunak to forge ahead with 'NFT for Britain' despite plunge in markets
2 years, 6 months ago

Sunak to forge ahead with 'NFT for Britain' despite plunge in markets

The Telegraph  

Rishi Sunak is to forge ahead with plans for an “NFT for Britain” despite market turmoil that has wiped billions of pounds off the digital assets. “The NFT market is either going to recover and thrive on its own, in which case there is no need for the Government to get involved, or it won't, in which case no-one will thank the Treasury for encouraging the general public to jump on board.” Despite this, the Mint is still intending to push ahead with plans for an NFT for Britain. Speaking at Innovate Finance Global Summit in London, Mr Glen said the NFT plan is “an emblem of the forward-looking approach we are determined to take" and added that the Government may even one day consider issuing debt using the blockchain technology that underpins the crypto market. “There’s a genuine opportunity to build on our strengths in fintech, seize the capitalist energy which has already made UK financial services what it is and use it to unleash the potential of crypto-technologies.” An annual wealth survey published by Knight Frank earlier this year said NFT ownership was on the rise, with 11pc of ultra high net worth individuals now in possession of one.

Market Crypto Digital Treasury Britain Mint Nft  forge  warned  digital  treasury  crypto  ahead  plans  sunak  plunge  despite  britain  nft  nfts  using  underpins  market  markets

History of this topic

Top-end art and luxury zoom while crypto bros dump NFTs
1 year, 8 months ago

Top-end art and luxury zoom while crypto bros dump NFTs

Live Mint  

The rich are living in a different economic world right now. Global art sales rose to $67.8 billion in 2022, according to art economist Clare McAndrew’s latest state-of-the-industry report for Art Basel and UBS Group. The British art market hasn’t quite recovered to pre-pandemic levels, but it is still attracting international buyers post-Brexit. With crypto bros spending their gains on …

The Year the NFT Died and Came Back to Life
2 years ago

The Year the NFT Died and Came Back to Life

Wired  

The inventor of the non-fungible token says he has spent the last two years lurching “from excitement to dread.” Although artist Kevin McCoy says he is “gratified” to see people engaging with what started as his “own private thought experiment,” he claims to be terrified by the gold rush it inspired. In March 2021 during the early throes of NFT …

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 …

Treasury remains committed to NFT despite crypto crash
2 years, 5 months ago

Treasury remains committed to NFT despite crypto crash

The Telegraph  

Ministers are pressing on with plans to create a UK-backed non-fungible token, despite a crash in cryptocurrencies and the exit of key Treasury personnel backing the controversial project. A spokesman said: “We are firmly committed to putting the UK at the forefront of crypto-asset technology and innovation by capitalising on the freedoms gained by leaving the European Union.” Rishi Sunak, …

Should Creators Consider Selling Their Art Online As NFTs?
2 years, 6 months ago

Should Creators Consider Selling Their Art Online As NFTs?

ABP News  

Non-fungible tokens, or NFTs, have been taking the world by storm, offering creators a unique and arguably better way to monetise their work. That can be an NFT that you can sell.” He added, “Now, suppose you create another drawing of an apple that looks similar but has an additional leaf at the top, then that would become another NFT.” …

Punk It!: All About The 104 CryptoPunks Going To Auction At Sotheby's NFT Event | Explained
2 years, 10 months ago

Punk It!: All About The 104 CryptoPunks Going To Auction At Sotheby's NFT Event | Explained

ABP News  

New Delhi: The countdown has begun. The event called Punk It!, which the leading auction house is calling the “the first NFT and cultural event of its kind”, will see a single-lot sale of 104 CryptoPunks; a single-lot sale of 104 CryptoPunks acquired simultaneously in a singular blockchain transaction by anonymous collector ‘0x650d’. According to Sotheby’s, the leading auction house, …

NFTs aren't art — they're just the Cult of Crypto's latest scam
2 years, 10 months ago

NFTs aren't art — they're just the Cult of Crypto's latest scam

Salon  

"If it looks like a scam, it's probably a scam." But also there's a lot of cases where those narratives aren't entirely trustworthy because people who get involved have an incentive to perform successfully because that's culturally ingrained into it and ties back to a lot of just general finance industry narratives of like: "Success comes to those who are …

'First NFT Event Of Its Kind': Sotheby’s Set To Hold Live Auction Of 104 CryptoPunks For $30 Million
2 years, 10 months ago

'First NFT Event Of Its Kind': Sotheby’s Set To Hold Live Auction Of 104 CryptoPunks For $30 Million

ABP News  

New Delhi: After the success of its inaugural series of NFT sales in 2021, Sotheby’s has now announced the first dedicated live evening auction for NFTs or non-fungible tokens. The February 23 event, Punk It!, which the leading auction house is calling the “the first NFT and cultural event of its kind”, will see a single-lot sale of 104 CryptoPunks. …

Art frauds on the rise on NFT platforms
2 years, 10 months ago

Art frauds on the rise on NFT platforms

Live Mint  

Prasad Bhat, a Bengaluru-based caricature artist who frequently lists his artwork as non-fungible tokens, is unable to hide his distress. To encourage more artists to mint NFTs, OpenSea has a tool called Lazy Minting, which doesn't require them to pay a gas fee--a one-time fee charged for creating NFT on a blockchain. According to Huzefa Motiwala, director, systems engineering, India …

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 …

World's first SMS sold as non-fungible token for over $120,000
3 years ago

World's first SMS sold as non-fungible token for over $120,000

ABC  

The first text message ever sent, which simply reads "Merry Christmas", has been sold for 107,000 euros as a non-fungible token at a Paris auction house. Key points: Vodafone engineer Neil Papworth sent the SMS from his computer It was recieved by a manager in the United Kingdom on an Orbitel telephone The SMS was sold as an NFT The …

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 …

NFT sales surge to $10.7 bln in Q3 as crypto asset frenzy hits new highs
3 years, 2 months ago

NFT sales surge to $10.7 bln in Q3 as crypto asset frenzy hits new highs

The Hindu  

Sales volumes of non-fungible tokens 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. Cryptocurrency price gains during the COVID-19 pandemic are often cited as a driver behind the NFT market's growth --because people …

The Times podcast: Are NFTs worth your money?
3 years, 2 months ago

The Times podcast: Are NFTs worth your money?

LA Times  

An NFT titled “SHIFT//” by Mad Dog Jones is displayed in June during a preview of an NFT sale at Sotheby’s in New York City. Today, L.A. Times business reporter Sam Dean gives us a crash course in what exactly NFTs are and how to think about whether they’re worth your money. And a pair of NFT collectors tell us …

This 12-Year-Old Is On Track To Earn Over $400,000 Within 2 Months Of Selling NFTs
3 years, 3 months ago

This 12-Year-Old Is On Track To Earn Over $400,000 Within 2 Months Of Selling NFTs

News 18  

A 12-year-old coder based out of London is on track to earn over $400,000 from a collection of digital whales that are selling as NFTs, a report in CNBC said. Earlier this year, the young coder became interested in NFTs, the ubiquitous digital commodity that is tied to everything from videos to artwork to tweets. Ahmed launched his first NFT …

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 …

NFT Music: the gatekeepers are changing
3 years, 5 months ago

NFT Music: the gatekeepers are changing

The Hindu  

Earlier this year, Singaporean-Tamil entrepreneur Metakovan aka Vignesh Sundaresan ignited an entire movement about the way art is valued in the digital world when he purchased an NFT artwork for $69 million. Then in late April, Metakovan once again made headlines for purchasing an NFT of Tamil singer-composer Kaber Vasuki’s 2012 demo version of a song called ‘Vasanam’. It’s currently …

'CryptoPunk' Digital Artwork NFT Sells For Rs 86 Crores in Sotheby's Auction
3 years, 6 months ago

'CryptoPunk' Digital Artwork NFT Sells For Rs 86 Crores in Sotheby's Auction

News 18  

A non-fungible token of a digital artwork called a “CryptoPunk” sold for $11.8 million on Thursday, auction house Sotheby’s said. “CryptoPunk #7523” was sold for $11,754,000 as part of the Sotheby’s online auction “Natively Digital: A Curated NFT Sale”, which fetched a total of $17.1 million across works by 27 digital artists. “To those who say, “yeah but you can’t …

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 …

Sotheby’s introduces cryptocurrency sales with a famous Banksy work
3 years, 7 months ago

Sotheby’s introduces cryptocurrency sales with a famous Banksy work

CNN  

CNN — Sotheby’s has become the first major auction house to introduce cryptocurrencies as a payment method for physical artworks, following its prior sales with digital NFT art last month. “Love is in the Air”, one of street artist Banksy’s most recognizable works, is the first piece that Sotheby’s will make eligible for purchase via either Bitcoin or Ether. The …

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 …

Sotheby’s CEO explains why NFTs are the future
3 years, 8 months ago

Sotheby’s CEO explains why NFTs are the future

CNN  

New York CNN Business — Despite what Pete Davidson’s rap spoof suggests, NFT isn’t just for crazy kids with cash to burn. The market for the unique digital collectibles remains volatile, but Sotheby’s has given the NFT space legitimacy. Stewart: NFTs really burst on to the mainstream consciousness over the last few months and i think there’s a lot of …

Auction houses Sotheby’s and Phillips join in the NFT craze
3 years, 8 months ago

Auction houses Sotheby’s and Phillips join in the NFT craze

Live Mint  

Sotheby's and Phillips launched so-called NFT auctions on Monday, a month after Christie's sold a digital artwork for $69.3 million, as traditional auction houses seek to capitalise on the craze shaking up the art market. "I feel like collectibles are collectible," said Max Moore, contemporary art expert at Sotheby's, which is holding a three-day sale from Monday to Wednesday of …

Will NFT trend in art prove to be next frontier in trading, or merely a new form of 'tulip mania'?
3 years, 8 months ago

Will NFT trend in art prove to be next frontier in trading, or merely a new form of 'tulip mania'?

Firstpost  

Since the 17th century, tulip mania has become a byword for the irrationality of financial bubbles. Last week, Nifty Gateway, a specialist online marketplace for nonfungible tokens, or NFTs, held an auction that included a computer-generated illustration by digital artist Mike Winkelmann, known as Beeple, whose JPG collage “Everydays — The First 5000 Days,” was sold online by Christie’s earlier …

How two crypto investors spent $70 million on a Beeple piece, securing their place in art history
3 years, 8 months ago

How two crypto investors spent $70 million on a Beeple piece, securing their place in art history

Firstpost  

Vignesh Sundaresan and Anand Venkateswaran describe the nerve-racking final moments of the online auction for a collage of 5,000 images by the artist known as Beeple. “We weren’t sure we won,” said Venkateswaran, describing the nerve-racking final moments of the online auction for a collage of 5,000 images by the artist known as Beeple. “We kept refreshing the page.” The …

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 …

Vignesh Sundaresan | The nifty bidder
3 years, 9 months ago

Vignesh Sundaresan | The nifty bidder

The Hindu  

On March 11, after selling an artwork for over $69 million to someone with the pseudonym Metakovan, auction house Christie’s noted that “this piece now ranks third amongst the most valuable artworks ever sold by a living artist”. In another Metapurse blog post, NFTs are described as “the centre of a renaissance — of finance, technology, creativity, collaboration, and culture …

Elon Musk May Not Be Joining In on the NFT Gold Rush
3 years, 9 months ago

Elon Musk May Not Be Joining In on the NFT Gold Rush

News 18  

Elon Musk may have opted out of the ongoing NFT gold rush, after he initially made an NFT on a techno song about NFTs – and then opted out of it. While Christie’s scored a big hit with the record-breaking sale of Beeple’s “Everydays: the First 5,000 Days,” Sotheby’s is hoping to generate the same interest by partnering with digital …

'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 …

Buyer behind $69m record-breaking art sale revealed
3 years, 9 months ago

Buyer behind $69m record-breaking art sale revealed

CNN  

CNN — The buyer of a digital artwork sold for $69 million was named as a crypto asset investor known by the pseudonym “Metakovan,” auction house Christie’s confirmed on Friday. Chinese cryptocurrency creator Justin Sun revealed on Twitter that he was outbid on the artwork, having put down a final effective bid of $60 million, only to be “outbid by …

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 …

NFTs are setting the creative world alight. Are they also bad for the planet?
3 years, 9 months ago

NFTs are setting the creative world alight. Are they also bad for the planet?

ABC  

By this point, you've probably heard about NFTs — even if you still don't really understand them. But adding data to the blockchain — a process of running software that people call "mining" — requires a large amount of computing power. A Turkish digital artist with a PhD in artificial intelligence, he said that while not as bad as the …

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 …

Decoding the boom in visual art and NFTs
3 years, 9 months ago

Decoding the boom in visual art and NFTs

Hindustan Times  

On March 11, Christie’s auctioned a JPG file for $69 million, catapulting its creator – digital artist Mike Winkelmann, who goes by the name of Beeple, to instant worldwide fame. The auction house said in a tweet that the first purely digital artwork’s auction places Beeple among the top three most valuable living artists. This digital collage, titled Everydays: The …

Digital artist Beeple $US70m richer as NFT piece becomes first sold by major auction house
3 years, 9 months ago

Digital artist Beeple $US70m richer as NFT piece becomes first sold by major auction house

ABC  

An artist has netted $US70 million from the landmark sale of a digital artwork that does not exist in physical form. Key points: Mike Winkelmann, known as Beeple, has become one of the world's most profitable artists The artwork is in the form of a Non-Fungible Token, which is authenticated by a blockchain This piece of art is the first …

$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 …

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 …

Bids for Twitter co-founder’s first post reach $2.5m
3 years, 9 months ago

Bids for Twitter co-founder’s first post reach $2.5m

The Telegraph  

A signed copy of Charles Dickens' novel A Tale of Two Cities bearing a personal inscription went on sale for £275,000, while a letter signed by physicist Albert Einstein was auctioned for $75,000. But bids for the first ever tweet look poised to eclipse them both after offers hit $2.5m in an online auction. The post will be sold as …

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 …

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 …

Remember Nyan Cat? A Rare Digital Gif Version of It Just Sold For $500,000
3 years, 10 months ago

Remember Nyan Cat? A Rare Digital Gif Version of It Just Sold For $500,000

News 18  

Who would have thought that an animated flying cat leaving a rainbow trail would become the next big thing at auction? The creator of the “Nyan Cat” recently offered a one-of-a-kind version of his viral GIF on Foundation, a website for buying and selling digital goods. Digital art enthusiasts and cat lovers engaged in a bidding war which ended when …

Discover Related