NFT and blockchain: the warning of an earthquake in the art world
The crypto art is traded for millions of
dollars thanks to the NFTs, certificates of authenticity in the blockchain. An
opportunity for artists and digital creators but a new challenge for copyright
protection and for the climate.
The NFTs jumped into the major leagues with
the sale of The First 5000 Days, the work of graphic artist Mike Winkelman,
known as Beeple, which sold for $ 69.3 million.
How much would you pay for an icon of a
"feminine, green clown-eyed, wild-haired" face? Not for a picture to
hang on one of her walls, but for a digital graphic, a jpg or png file.
A file that actually everyone can see,
hence the image that accompanies this article (see photo N ° 1). So in reality
what is acquired is the right to property. Someone paid $ 37,128 for this
"cyberpunk" last Friday.
Your seller achieved a profit of 63%
compared to the value you paid for this same token (token) a week ago. Welcome
to the world of NFTs, or non-fungible tokens. These non-fungible tokens (that
is, they do not wear out) are the latest application of blockchain technology.
Although they actually emerged in 2017, it is not until now that they have
become the "latest craze" in an investor market eager to acquire
innovative assets that promise high returns.
The Nonfungibles.com site, which has
followed this industry since its inception, shows that NFT trading has exploded
since last December. In total, the trade in these digital tokens has generated
$ 420 million, half of that amount in the last month alone.
NFTs, like cryptocurrencies, are block
codes, mostly built within the Ethereum chain (for those who do not know it, it
has a cryptocurrency like bitcoin called Ether). Its creator can define, in his
code, a number of data, including restrictions for its use.
The
jump to the big leagues
But if until now they were part of an
elusive market for the great majority, the NFTs jumped into the big leagues
with the sale of The First 5000 Days, the work of graphic artist Mike
Winkelman, known as Beeple.
On Thursday, March 11, Christie's
auctioned the digital work at $ 69.3 million. The amount far exceeds the 15
million dollars that the same auction house hopes to obtain this month for a
rare painting by Picasso.
Beyond the artistic debate, it can be
assumed that it is the technological component that raised the value of
Beeple's work. According to Christie's records, there were 33 participants in
the auction. Of them, only 11 are over 40 years old. The vast majority (58%)
were millennials, and some millionaires from Generation Z.
Beeple started the "Everyday
Project" in 2007, posting one image each day. The work auctioned by
Christie's is a collage of the first 5,000 images. Its buyer could pay in
dollars or in the cryptocurrency Ethereum, in another great revolution for
these assets. Beeple is not new to the world of NFTs.
The artist began selling his digital
works for $ 67 last October. In November he created "Crossroad 1/1,"
a nine-second digital short that was quickly purchased by "Pablo" for
$ 66,666. In February, Pablo sold Beeple's work to an anonymous buyer for $ 6.6
million.
Unlike
the Mona Lisa ...
"You can take a picture of the Mona
Lisa, but it does not mean that you own the Mona Lisa. NFTs are a way to verify
ownership of a digital asset, it can be anything, art, videos, a meme, tickets
to a concert, "Beeple explains in an interview with Christie's.
Big brands are seeing the potential. NBA
created NBA Top Shot, a digital marketplace where users can sell NFTs of videos
of iconic basketball league plays. An NFT of a video of LeBron James shooting
sold last month for more than $ 200,000.
The video can be viewed for free on
YouTube or on social media. But someone today has the right to say that he owns
it. Formula1, Nike, Samsung and BBC are other large companies that have already
entered this market.
"It is not just about digital
goods. NFTs can also represent any type of physical asset, acting as a kind of
'digital twin' of anything in the real world and allowing the exchange of
physical possessions within digital markets." , state the authors of
NonFungible.
In a recent column for Wired, L'Atelier
BNP Paribas CEO John Egan states that NFTs will be key in the "virtual
economy" we are heading for. "In 2021, the Metaverse - a virtual
world in which people interact with each other through avatars - will see the
beginning of a robust economic system based on the use of NFT. And that will
enrich many people," he predicts.
Elaborado por:
Johan Rodríguez C.I.: 17.300.689
Génesis Martínez C.I.: 22.670.161
Elaborado por:
Johan Rodríguez C.I.: 17.300.689
Génesis Martínez C.I.: 22.670.161
Johan Rodríguez C.I.: 17.300.689
Génesis Martínez C.I.: 22.670.161
NFT stands for Non-Fungible Token, a non-fungible token. Tokens are units of value assigned to a business model, such as cryptocurrencies. NFTs have a close relationship with cryptocurrencies, at least technologically, although they are opposites, since a Bitcoin is a fungible good, and an NFT is a non-fungible good, but in essence, they are like the two sides of a technological coin.
ResponderEliminarIt is a new world of investment in the blockchain, which are trending at the moment, is very extensive its application and we recommend you to investigate more deeply to understand it.
By. Jose Torrealba & Jeanpier Cabrera... The new way of expressing art through nft has been replacing the traditional way of expressing and exhibiting art worldwide. The most purist artists will have to adapt to this new trend.
ResponderEliminarGood afternoon, we loved the color scheme and the interestingness of the theme, as well as its distribution.
ResponderEliminarbeeple's nft has many of his illustrations throughout 15 and they are very beautiful that has value
ResponderEliminarThe fact that a digital image has an author certificate is something new, that has value
It is the first time that a luxury auction house has sold a completely digital piece, that has value
All this can have more value in the future, that has even more value.
Edgar Pimentel beeple's nft has many of his illustrations throughout 15 and they are very beautiful that has value
ResponderEliminarThe fact that a digital image has an author certificate is something new, that has value
It is the first time that a luxury auction house has sold a completely digital piece, that has value
All this can have more value in the future, that has even more value.
Stevens Bernal & Tomás Liendo: This is a very interesting topic since NFT's are a new world within the universe of cryptocurrencies capable of creating investment opportunities for many people in the world.
ResponderEliminar