At their simplest non-fungible tokens or NFTs can be thought of as bitcoin for art.

Non fungible token digital art. With non-fungible tokens you can create a unique piece of art that is stored on the blockchain. A Singapore investor recently made waves in the art world when he spent a record. Game-changers for Asian collectors or just another bubble.

Canadian musician and singer Claire Alice Boucher known as Grimes sold a collection of non-fungible tokens at the Nifty Gateway auction for 6 million. They have no corporeal or product equivalent but are certificates to prove ownership of digital assets in particular of digital works of art. Non-fungible tokens and digital art.

The lack of digital scarcity in the creator economy is one of the main reasons people have slowly but surely been gravitating to NFTs as a possible solution. With money you can swap a 10 note for two 5 notes and. A non-fungible token or NFT represents a digital work of art that is completely unique and whose authenticity can be verified through blockchain technology.

The digital art collection is called WarNymph Collection Vol1 and consists of 10 works. Digital Art For S93M. What are these Non-fungible tokens and why are they worth mill.

By being registered on open blockchain ledgers which anyone can view if they wish to tracking. NFTs non-fungible tokens have become an unlikely innovator in the art world. As a random Internet user you can view Beeples EverydaysThe First 5000 Days online but only the person who bought the NFT tied to the art owns it.

The community suggested that the child depicted in the paintings is Elon Musk and Grimes son XÆA-12. Grimes is one of several artists using NFT non-fungible token technology to sell art. Published 2021-04-06 150453.