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Author: Admin | 2025-04-28
That’s not really what I meant. A lot of the conversation is about NFTs as an evolution of fine art collecting, only with digital art.But yes, someone could buy your good tweets. The founder of Twitter sold one for just under $3 million shortly after we originally posted this article.Could you do a real quick rundown of what the blockchain is?Well, they’re pretty complex, but the basic idea is that blockchains are a way to store data without having to trust any one company or entity to keep things secure and accurate. There are definitely nuances and exceptions there, which you can read about in our blockchain explainer, but when most people say “blockchain,” that’s the kind of tech they’re talking about.There’s also... a lot of nuance about whether NFT’s are on the blockchain or not, which we’ll dig into in a bit.Oooh, foreshadowing.I know, I feel like a real writer.So do people really think this will be the future of collecting?I’m sure some people really hope so — like whoever paid almost $390,000 for a 50-second video by Grimes or the person who paid $6.6 million for a video by Beeple. Actually, one of Beeple’s pieces was auctioned at Christie’s, the famou—Sorry, I was busy right-clicking on that Beeple video and downloading the same file the person paid millions of dollars for.Wow, rude. But yeah, that’s the awkward bit. You can copy a digital file as many times as you want, including the art that’s included with an NFT.But NFTs are designed to give you something that can’t be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork). To put it in terms of physical art collecting: anyone can buy a Monet print. But only one person can own the original.No shade to Beeple, but the video isn’t really a Monet.What do you think of the $3,600 Gucci Ghost? Also, you didn’t let me finish earlier. That image that Beeple was auctioning off at Christie’s ended up selling for $69 million, which, by the way, is $15
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