New York Times Technology Start-up and Venture Capital Reporter Erin Griffith joins John Williams to explain how a transaction like that works and The TikTok user who longboarded with a Cran-Raspberry Ocean Spray bottle in his hand to the sound of Fleetwood Macs Dreams is now selling the original video for 500000 through non-fungible tokens.

Non fungible tokens new york times. An NFT or non-fungible token of the digital artists work sold for sixty-nine million dollars in a Christies auction. What are non-fungible tokens. An NFT which stands for non-fungible token is basically a digital stamp of authenticity that can be bought sold or traded like cryptocurrency on a.

A detail from Beeples. We explain or try to. Over 1300 attend the NFT summit June 1-2.

Just a day later Roose successfully auctioned what he called a digital original of his articles as an NFT on the foundation platform. The price was a new high for an artwork that exists only digitally beating auction records for physical paintings. While those other identical tokens can be traded for one another making them fungible an NFT is a one-of-one digital asset.

Kevin Roose an author and technology columnist at NYT minted an NFT of his column about NFTs. To hear more audio stories from publishers like The New York Times download Audm for iPhone or Android. The First 5000 Days is the first NFT work sold by Christies in its 255-year history.

He was able to raise more than 550000 for charity. In other words you cannot interchange one NFT with another NFT nor can you sell parts of it. Nonfungible tokens and blockchain technology are taking the mainstream art world by storm fetching huge prices.

Why would someone pay 500000 for a digital house. Even The New York Times jumped on the NTF bandwagon or rather allowed one of its journalists to do so. Non-fungible tokens or NFTs are essentially unique identifiers given to an entity that exists on the blockchain.