A total of 10 artworks were put up for auction and a video called Death of the Old fetched the highest.

Why is nft art finance dropping. NFTART has a built-in 10 transaction tax where 5 gets burnt 5 goes back to holders. Today artists dont have to sell their art through an auction or galleries because they can sell it as an NFT directly to a consumer. NFT has been around since 2015 but started making waves in 2020 when its market tripled.

Selling as an NFT is more profitable than through auctions because they dont have to pay commissions. They represent a cooler way for the average person to get into the world of cryptocurrencies. What is NFT Used For.

Autoglyphs 307 ETH Floor The most expensive NFT project on OpenSea today is Autoglyphs. Scam pyramid scheme and tech speculation bubble -- such have been the more cynical responses to the meteoric rise of the NFT non-fungible token market. A non-fungible token is a unit of data stored on a digital ledger called a blockchain that certifies a digital asset to be unique and therefore not interchangeable.

Whats interesting is the fact that the sale was through Christies one of the worlds most prestigious auction houseswhich added a new air of legitimacy to the concept. But as with crypto-currencies there are concerns about the environmental impact of. The NFTART token will be powering our platform.

Christies sale of an NFT by digital artist Beeple for 69m 50m set a new record for digital art. The big question is whether some of the more recent projects will achieve those levels in the future. Some NFT projects on OpenSea have a very high price floor indicating people are eager to spend a lot of money.

The First 5000 Days selling two weeks ago for an eye watering sum of nearly 70 million. Tell me more about the reveal period. Canadian musician and visual artist Claire Boucher aka Grimes sold 6 million worth of digital artwork on March 2.