Does the popularity of NFT in the NFT community mean the advent of the digital art era?

A video clip sold for $million, a Twitter post sold for $10,000, and a JPG file made up of a thousand pictures sold for a whopping $10,000. It sounds incredible, but they are really happening. What makes all this happen comes from a concept that is strange to most people: NFT.

What is NFT? its name is a non-homogenized token, a digital asset verified by blockchain technology. Its most easily understood nickname is digital works of art. According to statistics, the size of the whole NFT market was no more than 0 US dollars three years ago, but by the end of 2000, the market value of NFT has increased by 0% to reach 100 million US dollars. This year, by the end of the month alone, NFT's sales were close to 100 million US dollars, almost five times that of 2000, showing explosive growth. Does the popularity of NFT mean that the era of digital art is coming?

Everything can be NFT, and the scope of application depends on people's imagination.

Starting at $00, the price climbed to $0 within an hour, and the diva dropped the hammer for $10,000, making it the third most valuable work of art in the auction history of a living artist. This miracle was created by NFT "every Day: the first 0 days." This is a digital art that takes years to create. Artist Beeple has been creating a painting every day since 2000 and uploaded it to the Internet, eventually stitching together thousands of pictures into a MB JPG file.

As the first pure digital work to be sold in a traditional auction house, the sale of "every Day: the first 1000 days" attracted a lot of attention. According to data released by Christie's, nearly 0 users logged on to the auction house's website to follow the final stage of the auction process of the work. Buyers from all over the world participated in the auction, and% of them participated in the Christie's auction for the first time. The age distribution of buyers is significantly younger than in the past.

This is not the first time Beeple's work has sold at a high price, after a 0-second video online encryption art platform he created sold for $0. According to statistics, Beeple has sold 0 works with a total value of more than 100 million US dollars, making it the leader in the field of NFT art.

Is the emerging thing untouchable a flash in the pan or a development trend?

For the field of art, NFT not only expands the boundary of art, but also changes the distribution mode of art rights and interests that has been going on for thousands of years. For a long time, once an artist's work is sold, it is difficult to get a return on subsequent transactions. With the traceability of the blockchain, the sold NFT can still be tracked, so the artist can enable the unique feature to get a certain percentage of the fee for each transaction of the work, usually between% and 0% of the sales price. For example, if an artist sells a work at the price of an etheric currency, and the seller sells it for 0 etheric currency, the artist who created the painting can still charge 0% of the fee-that is, another etheric currency. This cannot be achieved in the traditional way of selling works of art.

For artists, NFT undoubtedly provides a high-quality channel for them to sell digital works of art. however, unlike traditional forms of art sales, NFT buyers only buy the ownership of works that can be infinitely reproduced, which increases the uncertainty of the market. For example, when a buyer buys a Monet through an auction house, if the buyer keeps the painting at home, others may not have a chance to see it again. The buyer only owns the digital work purchased through NFT, while others can still browse, copy or download the work at any time on the Internet.

Because of this, people have different opinions about NFT. Some people see it as the future of art collection, while others think it is full of speculation and bubbles. According to the latest data, after the blockbuster deal, the overall performance of NFT works in March was surprising. The average price of NFT works in March fell 0% from February, and sales also fell sharply.

Industry insiders pointed out that today, with the increasing maturity of Internet encryption technology, "every day: the first thousand days" has gathered unprecedented attention for NFT. However, the background of art is ultimately attributed to innovation and creativity, and its value always depends on the quality of the work. NFT only plays the role of carrier. As Beeple said, "if all NFT disappears tomorrow, I will still be engaged in digital art creation." In the art circle, whether this new thing that can be seen but not touched is a flash in the pan or a development trend, the future trend remains to be seen.

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