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 how will they change the digital ownership model as we know it. NFTs or Non-fungible tokens are digital assets that are unique, and hence can only have a unique ownership. On a bit more sensible side, NFTs of digital art, music compositions, collectible cards are quite popular around the globe.

India World Bollywood Indian Digital Unique Painting Value Nfts Da Vinci Going Gaga  value  going  gaga  digital  nfts  cryptocurrencies  network  unique  painting  world  ownership  bollywood  rs

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 …

NFTs And Intellectual Property
2 years, 3 months ago

NFTs And Intellectual Property

Live Law  

Non-Fungible Tokens have been around since 2014, but in 2021 they gained new hype owing to very high-profile technological stories covered in the media. Let's consider some cases and legal issues being brought up for litigation in other countries, offering a glimpse of legal disputes to come: Shenzhen Qice Diechu Cultural Creativity Co., Ltd. v Hangzhou Yuanyuzhou Technology Co., Ltd …

NFTs In Web3: What A Decentralised Future Holds For Gaming, Art, More
2 years, 3 months ago

NFTs In Web3: What A Decentralised Future Holds For Gaming, Art, More

ABP News  

New-age technologies that are witnessed today are transforming the world in several domains. With the digital transformation of the internet, Web3 is going to bring a steady state of data ownership for the common people and there will be several marketplaces where artists could present their NFTs. As the internet will be decentralised at several levels, the owners won’t have …

India Emerging As 'Major NFT Destination': Study
2 years, 3 months ago

India Emerging As 'Major NFT Destination': Study

ABP News  

New Delhi: A recent study conducted by Market Decipher, a premier market research, and consultancy firm, has provided good news to Topps India, the Indian subsidiary of the leading producer of sports and non-sports themed trading cards. India holds huge market potential in all sectors of collectibles including trading cards, figurines, and jerseys," the report said. Topps India believes that …

NFTs: How India Can Emerge As A Frontrunner
2 years, 4 months ago

NFTs: How India Can Emerge As A Frontrunner

ABP News  

While the majority of the populace continues to feel intimidated by the world of digital assets, the interest in non-fungible tokens is growing in India. While the Indian government wants to regulate cryptocurrencies, artists, platform owners, and auctioneers are optimistic that NFTs will be the new frontier for Indian art, especially in light of COVID-19's negative impacts. In 2021, a …

Confused About Which NFTs Are Virtual Digital Assets? Finance Ministry's CBDT Clears the Air
2 years, 5 months ago

Confused About Which NFTs Are Virtual Digital Assets? Finance Ministry's CBDT Clears the Air

News 18  

The Central Board of Direct Taxes, which is part of the Ministry of Finance’s revenue division, has said that only NFT trades without a concurrent sale of the underlying physical asset will be subject to the tax rates laid forth for virtual digital assets. In the notification, CBDT said: “The Central Government hereby specifies a token which qualifies to be …

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.” …

Non-Fungible Tokens
2 years, 8 months ago

Non-Fungible Tokens

Live Law  

WHAT IS AN NFT? Opensea, Rarible, SuperRare and Nifty Gateway are some of the most common NFT Marketplaces where NFTs can be created, listed and traded. Creating the NFT Opensea allows users to create NFTs of various formats including images, videos, audio as well as three-dimensional models up to 100 MB in size. Since the artworks underlying the NFTs created …

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 …

NFTs Don’t Work the Way You Might Think They Do
2 years, 9 months ago

NFTs Don’t Work the Way You Might Think They Do

Wired  

It’s been impossible to avoid hearing about NFTs in recent months. The extremely technical nature of how NFTs, blockchains, and cryptocurrencies work means that it’s easy to simplify the explanation of the tech to the point of being misleading. NFTs Aren’t Authoritative Tokens of Ownership The most persistent misleading claim about NFTs is also the one that’s closest to being …

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 …

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 …

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 …

You Can Now Buy NFTs in Select Video Games, Here's How
3 years ago

You Can Now Buy NFTs in Select Video Games, Here's How

News 18  

French video game giant Ubisoft on Tuesday launched a platform allowing players to acquire and play non-fungible tokens in its games, in the gaming industry’s first large-scale experiment with blockchain technology. The online tactical shooter game “Tom Clancy’s Ghost Recon Breakpoint” — whose production budget is similar to that of Hollywood films — will be the first to use them. …

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 …

The Great Khali and Bollywood Celebrities associate with nOFTEN
3 years, 1 month ago

The Great Khali and Bollywood Celebrities associate with nOFTEN

Deccan Chronicle  

Some of the top-notch celebrities from Bollywood, the entertainment industry, music, and sports have joined the bandwagon of rapidly growing nOFTEN, India’s largest NFT marketplace, to reach out to the tech-savvy generation that is primarily propelling the sector in the country. The International Rapper who is also known as The Game, the Bollywood Rapper, Raftaar and Bollywood Singer, Mika Singh …

Salman Khan Joins NFT Craze: Here's How Bhai's Fans Can Become Owners of His Artwork
3 years, 2 months ago

Salman Khan Joins NFT Craze: Here's How Bhai's Fans Can Become Owners of His Artwork

News 18  

Bollywood actor Salman Khan has revealed that he is soon going to roll out his own Non-Fungible Tokens. For Salman, NFTs can be a profitable venture as he paints, has his money tied up in various TV and film production ventures, is associated directly with the Being Human chain and owing to his Bollywood celebrity status, his digital assets will …

NFTs Explained: What Is This Digital Asset That's Making So Many People Millionaires?
3 years, 2 months ago

NFTs Explained: What Is This Digital Asset That's Making So Many People Millionaires?

News 18  

There’s a lot of talk about NFTs these days. Even Twitter founder Jack Dorsey’s first ever tweet was sold for $2.9 million as an NFT earlier this year. However, NFTs can and have been created in sets like trading cards where there’s 50 or hundred of the same exact NFT that are up for sale. How to Create NFTs So …

Amitabh Bachchan Becomes First Bollywood Star to Create His Own NFTs
3 years, 3 months ago

Amitabh Bachchan Becomes First Bollywood Star to Create His Own NFTs

News 18  

Non-Fungible Token or NFT is the new celebrity of the digital space. One of Bollywood’s biggest ever stars Amitabh Bachchan is all set to roll out his own NFTs, including some of the most unique and exclusive artworks surrounding his identity. The Amitabh Bachchan-themed NFTs will include artworks like verses from his father Harivansh Rai Bachchan’s legendary work Madhushala narrated …

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 …

What is NFT and Why it is Gaining Popularity
3 years, 4 months ago

What is NFT and Why it is Gaining Popularity

News 18  

In present times, there are plenty of cryptocurrencies like Bitcoin, Ethereum etc. In the digital world, NFTs are known for their quality of “one-of-a-kind” assets. The digital objects available on the internet like images, videos, music, text and even tweets, can be turned into an NFT through a unique process. They do it by creating a unique digital certificate and …

Is NFT the disruptor that digital art needs?
3 years, 5 months ago

Is NFT the disruptor that digital art needs?

Live Mint  

On 11 March, a work of art was auctioned for more than $69 million —and the furore it created wasn’t just due to the price tag. ‘The Arrival’, a work by Vimal Chandran It’s a new world, with a different currency, new terms, new collectors, new issues to address—even a new definition of the “artist”. According to the Christie’s spokesperson, …

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 …

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 …

Keen on the NFT art drops? It’s all about strategy, buyer knowledge and timing
3 years, 7 months ago

Keen on the NFT art drops? It’s all about strategy, buyer knowledge and timing

The Hindu  

“Let’s be honest, the NFT art world would not be having the trajectory it is, if Metakovan and Twobadour did not spend close to $70 million worth of crypto on Beeple’s Everydays: The First 5000 Days,” says Amrita Sethi, “That figure alone is enough for artists to start delving into the virtual NFT art space.” Amrita, having been a banker …

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 …

This New Self-Destructing Website Lets You Create a Unique NFT, But You Can't Tokenize It
3 years, 8 months ago

This New Self-Destructing Website Lets You Create a Unique NFT, But You Can't Tokenize It

News 18  

Want to join into the NFT gold rush, but can’t make art? ‘Tokenize This’ generates a unique URL that shows an image that isn’t very much different from some of the other NFT artworks being sold online. The creator of the website, Ben Grosser, explains it is “A generator of unique digital objects that can only be viewed once.” “Tokenize …

Indian crypto currency exchange launches NFT marketplace for Indian artists
3 years, 8 months ago

Indian crypto currency exchange launches NFT marketplace for Indian artists

The Hindu  

Indian cryptocurrency exchange, WazirX has launched a non-fungible tokens marketplace for Indian artists and creators. Indian artists can place their digital assets including art pieces, audio files, videos, and even tweets, for auction over the blockchain-based NFT marketplace to earn royalty thereafter. The company claims this to be India’s first NFT marketplace, and said it will not charge its customers …

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. …

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. …

'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 …

We bought an NFT. Here’s what we learned
3 years, 9 months ago

We bought an NFT. Here’s what we learned

CNN  

San Francisco CNN Business — As headlines about people bidding eye-watering sums on GIFs of Pop Tart cats, the first-ever tweet, a Kings of Leon album and other NFTs piled up over the last several weeks, the CNN Business team decided the best way to understand the craze would be to buy one ourselves. The perfect piece of digital art …

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 …

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 …

What are NFTs: How to use NFT and how do they work
3 years, 9 months ago

What are NFTs: How to use NFT and how do they work

India Today  

Non-fungible tokens, or NFTs, are unique crypto assets. How are non-fungible tokens used: Non-fungible tokens can be used for digital assets or goods that are different from each other to prove their worth and rarity. How do NFTs work: Non-fungible tokens can be created on contract-enabled blockchains with non-fungible token tools and support. Non-fungible tokens and their smart contracts allow …

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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