The First 5000 Days became the most expensive ever non-fungible token NFT - a collectible digital asset that uses blockchain technology to turn virtual work into a unique item.

Non fungible tokens beeple. Deslamizou MAi CC BY-SA 40 via Wikimedia Commons Bidding for digital artist Beeples non-fungible token NFT-based artwork the first purely digital artwork to be sold by a major fine arts auction house starts today on Christies online platform. To summarize a non-fungible token or NFT is primarily a unit of data ascribed to a particular digital item or a digital representation of a physical object. Non-fungible tokens or NFTs transform digital artworks into unique verifiable digital assets that are tradable on the blockchain.

Examples of digital items include digitized documents and digital files images and other media files such as audio or music and videos and digital artworks among others. Non-Fungible Tokens NFTs are currently the rage of the crypto town with the latest digital artwork called Everydays The First 5000 Days made by Mike Winkelmann popularly known as Beeple was sold for a whopping 69 million. Investors are increasingly investing millions of dollars in startups in the non-fungible token NFT industry which has gained massive popularity this year as prices of popular cryptocurrencies like Bitcoin and Ether have climbed significantly.

Non-Fungible Tokens or NFTs in a Nutshell. The artwork is a collage of all the images that Beeple has been posting online each day since 2007. Buyers typically get limited rights to display the digital.

Share on Facebook Share on Twitter Share on LinkedIn Share on Pinterest. That means it is a thing - the asset -. In March an NFT attached to digital artwork by a graphic artist known as Beeple aka Mike Winkelmann was sold at auction for US693 million.

In economics a fungible asset is something with units that can be readily interchanged - like money. NFT stands for non-fungible token. NFTs or non-fungible tokens are unique files that live on a blockchain and are able to verify ownership of a work of digital art.

Non-Fungible Tokens Could Change Culture Period Says Art Specialist. This piece of digital art is just one of the 5000 that make up Beeples huge collage Non-fungible tokens or NFTs are a type of cryptographic asset. With money you can swap a.