With the help of the technology behind the cryptocurrency, the sale of digital assets has never been seen before. This is how the crazy NFT market works.
Although the technology is not mature enough that Bitcoin or other cryptocurrencies have been introduced as a universal payment method, the exchange rate is still rising.
British Broadcasting Corporation Today, several media outlets have reported on the growing interest in digital art sales using this technology-art sold for millions of crowns. What will the buyer get in return?
Contains the product’s digital file and digital ownership certificate (NFT).
Therefore, the basic technology behind cryptocurrency is Digital assets. This especially applies to so-called collectibles, but it is possible to buy short films, Twitter messages and all content of characters in computer games-all of which are part of the same blockchain, traded on the same market, and can be stored in a digital wallet .
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The technology behind cryptocurrency, blockchain, is now used to create digital files, often referred to as “irreplaceable tokens.” The identification code and data make such a “token” completely unique, and therefore should be used as an undisputed proof of ownership.
Where you can buy 0.001 cryptocurrency, you cannot divide the NFT-it must be purchased as a whole, and it cannot be used as a link in a commercial transaction.
The technology behind it can specify an official version of a digital asset so that artists, musicians or gamers can make money in a safe way. New York Times.
According to reports, in early March, artist Mike Winkelmann’s art was called “Beeple” and sold for more than US$69 million, equivalent to approximately US$588 million in RMB. Economic Times.
Thanks to NFT, the artist does not have to hire a third party to verify the work, but can auction it through Christie’s auction house.
According to the same source, collagen will become the world’s third most expensive artwork sold by living artists.
What the buyer receives is as ordinary as a JPEG image file, so the artwork cannot be hung on the wall, but blockchain technology uses digital ownership certificates to provide a complete overview of the file owner at any time.
The cause of the case CNBC.