日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
China
Home / China / GBA focus

Token of art appreciation

By Joyce Yip | HK EDITION | Updated: 2021-05-07 14:16
Share
Share - WeChat
EVERYDAYS: THE FIRST 5000 DAYS, a collage of digital images created by Beeple, was the first piece of NFT-backed art offered at a Christie’s auction and sold for US$69.3 million. [Photo provided to China Daily]

Although NFT-backed sales are gaining traction in the art world, questions about the viability of this new digital currency abound. Joyce Yip has some answers.

In the past six months, three major auction houses - Christie's, Sotheby's and Phillips - opened their NFT sales account. And all of them fetched at least seven digits. At Christie's March 2021 sale Beeple's (Mike Winkelmann) EVERYDAYS: THE FIRST 5000 DAYS went for a whopping $69.3 million - the third-highest price achieved by a living artist, topping Jeff Koons' orange Balloon Dog ($58.4 million).

An acronym for "non-fungible tokens", NFTs are units of data stored on the blockchain that cannot be changed or replaced. A 10 dollar bill, for example, can be traded for two fivers, and hence is fungible, whereas an NFT is unique and conversion-resistant. Usually, NFTs are used to represent cyber files, including digital art. Although an NFT holder does not have exclusive right to the concerned artwork - meaning everyone with access to the internet can still obtain and copy the file - an NFT is proof of the item's authenticity, and purchasing one gives the buyer bragging rights, similar to owning an original piece of art, signed by the artist.

Mad Dog Jones' creation REPLICATOR, Generation 1, will keep producing new NFTs until Generation 7 is reached. [Photo provided to China Daily]

Not so long ago

NFTs captured the art world's attention in 2017 after two "creative technologists" - John Watkinson and Matt Hall - debuted 24-by-24 pixel images of pipe-smoking heads that were soon being treated as one-of-a-kind collectibles. More such art surfaced in the market, some more gimmicky than others, such as the googly-eyed CryptoKitties, which has accumulated a total trading volume of $39 million since its release in 2017. As of last year, the NFT market is worth about $250 million, thanks to "revenge spending" during COVID-19 and the new-found enthusiasm of Bitcoin millionaires.

While skeptics warn that the exuberance currently seen around NFT might be a passing fad, even traditional brands dealing in tangible products - like DC Comics and Nike - have embraced this new digital currency format. And that three of the world's major auction houses have jumped on to the NFT bandwagon has further legitimized its growing influence.

NFTs are prized for the unique stamp of authenticity they place on a work of art and also help trace all past transactions. Still, it's not one-size-fits-all.

For instance, Mad Dog Jones' REPLICATOR, sold recently by Phillips, turns the idea of investing in art, i.e. buying an original work with no duplicates, on its head. Its Generation 1 begins as an illustration of a photocopy machine in an office and will continue to produce new NFTs every 28 days for six months. Each subsequent generation will produce one less artwork in its lifetime until Generation 7 emerges. The piece's anonymous buyer possesses all the NFT jams - the technology that could be applied to stop the process of replication.

1 2 3 4 5 6 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 激情大乳女做爰办公室韩国 | h5.meihuan.art| 日韩第一页在线 | 欧美艹逼 | 日韩成人在线视频 | 亚洲人与黑人xxxx | 亚洲国产精品一区二区三区久久 | 波多野一区二区 | 欧美日韩综合视频 | 久久中文字幕不卡一二区 | 色成人亚洲 | 国产欧美精品一区二区 | 91久久线看在观草草青青 | 网红主播vip福利视频 | 亚洲码专区 | 欧美午夜精品一区二区蜜桃 | 久久久久久99精品 | 亚洲成人三区 | 日韩中文字幕在线视频 | 国产精品果冻麻豆精东天美 | 好吊日在线视频 | 黄色影片在线免费观看 | 久久99国产精品久久99无号码 | 91久久夜色精品国产九色 | 亚洲国产中文字幕在线观看 | 小明永久视频免费播放 | 国产精品久久久久久亚洲调教 | 久久综合九色 | 欧美在线观看19 | 男人的午夜影院 | 亚洲人天堂 | 无码免费人妻A片AAA毛 | 神马电影网午夜 | 狠狠的撸2015最新版狠狠的撸2015最新版 | 日韩精品 电影一区 亚洲 | 免费色在线| 国产人成午夜免视频网站 | 久草青娱乐 | 亚洲精品成人av | 亚洲天堂中文字幕 | 日韩不卡免费视频 |