In 2021, the auction house Christie's sold the digital NFT artwork by Mike Winkelmann (also known as Beeple) Everyday: the first 5000 days, for $69 million dollars. Vignesh Sundaresan is now the proud owner of this second most high-ticket NFT or non-fungible expression artwork.
Now, you might ask, what is so unique about this digital artwork that anyone would want to buy the NFT worth a million dollars when even you and I can have the same digital artwork by getting or even taking a screenshot! The answer to your questions lies in the concept of NFT. So, let's begin by learning about the NFTs, how they work and its future in our world to find the answer to all your questions!
What are Non-fungible tokens (NFTs)?
Let's take the example of the famous renaissance masterpiece, The last Meal, to help you understand better! You can photograph the artwork or purchase a print. 世博 NFT But only one original painting by Leonardo Da Vinci will ever exist. That is precisely the case with NFTs too!
In the digital world, NFTs are unique assets that you can purchase and sell like any other part of property. Be sure you file, including the art that accompany an NFT, can be duplicated as many times as you choose. However, it still won't be the original artwork. Hence, NFTs are made to give you something you can't get somewhere else: ownership of the work.
NFTs can refer to digital files like pictures, pictures, videos, music, virtual representations of personnel in free online games etc. You can compare digital tokens to ownership certificates for virtual or actual assets. The current buzz is focused on profiting the technology to sell digital art. The Beeple's artwork mentioned above is the perfect example.
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