NFTs Are Hot. So Is Their Effect on the Earth’s Climate
3 years, 9 months ago

NFTs Are Hot. So Is Their Effect on the Earth’s Climate

Wired  

Two years ago, Joanie Lemercier, a French artist known for his perception-bending light sculptures, took on a new role as a climate activist. The culprit was Lemercier’s first blockchain “drop.” The event involved the sale of six so-called nonfungible tokens, or NFTs, which took the form of short videos inspired by the concept of platonic solids. But with an NFT, the owner buys a verified token providing digital evidence that the art is theirs—a bit like an artist’s signature. Some mining hotspots popular because of cheap hydropower, such as Missoula, Montana, have banned new operations over concerns that even “clean” mining would push neighboring energy users to dirtier energy sources. “If you look at how much energy we are going to spend in the meantime, it’s ridiculous,” says Fanny Lakoubay, a crypto art collector and adviser.

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History of this topic

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 …

When technology marries creativity
2 years, 4 months ago

When technology marries creativity

Deccan Chronicle  

“When bankers gather for dinner, they discuss art. NFTs on art works are the equivalent of attestation – they are digital certificates from the artist saying, ‘This work has been created by me and accompanies the artwork.’ Artists who want to sell their work as NFTs must first register with a marketplace before “minting” digital tokens by uploading and validating …

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 …

NFT | ART: Expanding the definition of ‘artist’
3 years, 5 months ago

NFT | ART: Expanding the definition of ‘artist’

The Hindu  

D elhi-based sculptor and artist Shovin Bhattacharjee, 45, has been creating digital art since 2002. Among the first Indians to list his work as an NFT, he says, “I have always faced the challenge of limited buyers because the notion still persists that digital art is not authentic art”. And as concerns about duplication and authenticity of digital art get …

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, …

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 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 …

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. …

'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 …

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 …

Burnt Banksy: All You Need to Know About NFTs and Why Some 'Morons' Torched an Artwork
3 years, 9 months ago

Burnt Banksy: All You Need to Know About NFTs and Why Some 'Morons' Torched an Artwork

News 18  

Ever heard of an artwork whose value increased after it complete destruction? The digitized artwork, created from the original 2006 Banksy artwork ‘Morons’, is an NFT – a Non-fungible token. The phenomenon recently became a rage after an anonymous group of crypto enthusiasts burnt down an original Banksy, valued at $95,000 when purchased, and instead of creating an NFT to …

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 …

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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