Skip to main content

The NFT or Non Fungible Token

As the world evolves, and technology progresses, there are a lot of ways nowadays to earn and spend money. Welcome to the digital world.

Let us talk about Digital Currency. On 3 January 2009, the bitcoin network was created when Nakamoto mined the starting block of the chain, known as the genesis block. At that time, price of 1 Bitcoin is 0 $, and now as of this writing, 1 Bitcoin is equivalent to almost 32,000 dollars. 

After the successful run of the Crypto Currency; a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority, let us all welcome the creation of NFT. NFT stands for non-fungible token. It's generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that's where the similarity ends. Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another. NFT started dates back to 2017, when American studio Larva Labs developed CryptoPunks, a series of collectable digital characters traded through NFTs, which serve as a good starting point in getting your head around the technology.


Creating an NFT Art is just like an artist trying to paint an art then tries to sell it, the difference is, you’ll have to create an art in digital world and encrypt the digital source of the said artwork with blockchain so as to ensure the definitive version of that piece, then there you go, you can sell it without someone trying to duplicate your art.


Created by the renowned artist who goes by the pseudonym Pak, The Merge was sold on NFT marketplace Nifty Gateway between 2 and 4 December 2021. It fetched a record sum of US$91.8 million — the most expensive NFT ever sold that as an artwork.

The Merge

Acclaimed digital artist Mike Winklemann, better known as Beeple, created a record when his single piece artwork titled Everydays – The First 5000 Days sold for US$69.3 million at a Christie’s auction on 11 March 2021. Therefore, it is the most expensive NFT sale recorded for an artwork by Beeple.

Everydays – The First 5000 Days

The artwork is so named because it is a collage of 5,000 individual images made one per day over more than thirteen years from 2007 to 2020.

It was the first purely digital NFT-based artwork offered by a major auction house. Following the sale, Christie’s said Beeple now ranked among the “top three most valuable living artists.”

Its buyer, MetaKovan, later revealed as crypto investor Vignesh Sundaresan, called it “a steal” while talking to The New York Times.

The costliest single-piece NFT artwork, Everydays – The First 5000 Days, is credited by many as the sale that started the NFT boom through 2021. It also catapulted Beeple and his works into an even bigger league, with collaborations with Nike and Katy Perry.

Want to buy and/or sell NFT Art pieces? These 12 platforms are the best places to visit.

Nifty Gateway

SuperRare

Async Art

MakersPlace

KnownOrigin

Foundation

Zora

OpenSea

What are you waiting for, this would probably be the best time to invest in Digital Currency. Buy and or sell, or better yet, try to create your own.

Cheerio!

Labels:

Comments

Post a Comment

Popular posts from this blog

The Most Expensive Philippine Coin Ever Sold

I personally am fond of collecting old coins. I have an ample collection, and decent if I may add, of Philippine old coins. Though I collect coins for a hobby, some people kept on asking me how I acquire those coins and if I’m selling one. So in some cases, when I visit the Bangko Sentral ng Pilipinas (Central Bank of the Philippines), I always try to order an additional from my own to sell or give it as a gift to my friends. I always wonder, what Philippine coin is the most expensive ever sold, and how much. Priced at $22, 000 or Php 1,038,136.00 as of this writing ($1 = Php 47.19), the 1903 San Francisco Mint fifty centavos is perhaps the most expensive United States-Philippines coin ever sold. Only 2 specimens have reported and only one formally auctioned for the price mentioned. Do not mistake this one for the common 1903 Philadelphia Mint fifty centavos. This coin is an absolute rarity. How this coin surfaced? The story behind that incident is still a myste
56 comments
Read more

Hanamichi Sakuragi: In Real Life

I am not that young, though I am not that old to have watched the Manga Series Slum Dunk. A lot of people is being fascinated with the game of basketball. Almost everyone knows how to play the game. Maybe, just maybe, NBA really popularized the sports. Apparently, one story caught my attention, and surely, it is really worth to tell ;-) Slam Dunk (スラムダンク Suramu Danku?) is a sports-themed manga series written by Takehiko Inoue about a basketball team from Shōhoku High School. It was first serialized in Shueisha's Weekly Shōnen Jump in Japan from 1990 to 1996 and had also been adapted into an anime series by Toei Animation which had been broadcast worldwide, enjoying much popularity particularly in Japan, several other Asian countries and Europe. Inoue later used basketball as a central theme in two subsequent manga titles: Buzzer Beater and Real. In 2010, Inoue received special commendations from the Japan Basketball Association for helping popularize basketball in Japan.
49 comments
Read more

The Great Badjang or Giant Taro

As we try to come up with things to do to make our days productive this Pandemic, a lot of people are leaning towards Gardening. Here in the Philippines, people are becoming crazy with a certain plant. It has large leaves which resembles an Elephant’s ear. Badjang, as we call it here in the Philippines, scientifically called Alocasia macrorrhizos, is a species of flowering plant in the arum family that it is native to rainforests of Island Southeast Asia, New Guinea, and Queensland and has long been cultivated here in the Philippines, many Pacific islands, and elsewhere in the tropics. It is also famous as Giant Taro. The giant taro was originally domesticated in the Philippines, but are known from wild specimens to early Austronesians in Taiwan. From the Philippines, they spread outwards to the rest of Island Southeast Asia and eastward to Oceania where it became one of the staple crops of Pacific Islanders. They are one of the four main species of aroids (taros) cultivated by Austron
Post a Comment
Read more