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: 久久人 | 欧美性受| 午夜一区二区三区 | 国产97人妻人人做人碰人人爽 | a在线观看网站 | 色狠狠狠色噜噜噜综合网 | 色婷婷国产精品欧美毛片 | 免费在线一区二区 | 成人国产精品免费视频不卡 | 欧美激情综合色综合啪啪五月 | 国产区精品 | 国产91在线观看 | 狠狠久 | 午夜精品在线视频 | 草草影院w37 | 欧美高清观看免费全部完 | 亚洲欧美在线观看 | 久久精品国产99国产精品 | 91看片网| 欧美综合国产 | 亚洲天堂欧美在线 | 爱豆在线观看网址91 | 免费 | 国产精品毛片大码女人 | 男人激烈吮乳动态图 | 好大好爽快点视频 | 欧美午夜影院 | 久久国产精品免费网站 | 久久亚洲美女久久久久 | 91探花| 色拍拍欧美视频在线看 | 香蕉久久久久久 | 蜜桃av一区二区三区 | 尤物国产在线精品福利一区 | 日本妇人成熟免费不卡片 | 国产精品久久久久久久久久久久 | 国产秋霞 | 婷婷玖玖 | 国产又黄又猛又粗又爽的A片动漫 | 啪啪激情婷婷久久婷婷色五月 | 奇米 影音先锋 | 中文字幕三区 |