Its unbelievable, when someone told you that a 2.6MB animation is worth $6.6million. This is the new NFT.
But what is NFT? It is called Non-Fungible Token, which is part of the Ethereum blockchain (Cryptocurrency). Unlike the normal Ethereum coins which are just “coins”, NFTs are designed to store additional information which makes them unique and valuable. After reading the explanations 10 times, the only thing we can understand one thing:
This is a means for digitial artist to design and sell “rare art” to people spend their crytocurrency, specifically Ethereum.
Not really, the person who bought the NFT is actually buying the “original copy” which is unique. If you download the video from the website, what you get is just another copy of the video, and its not the original. Its the same concept that anyone can copy the Mona Lisa, but the artwork done by Leonardo Da Vinci remain as the unique original Mona Lisa. There is only one original, but there could be millions of copy. Get it?
So go ahead and download that $6.6million video, because its not worth a cent. Only the NFT is worth that much.
Beeple also sold the 5,000 “Everyday” artwork for $69 million. Check out more by clicking the link.