Become the next NFT multimillionaire with this digital art generator

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Your millions await. Earlier this month, auction house Christie’s held an online auction in which a piece of art sold for a whopping $69 million. It wasn’t a work by Basquiat or de Kooning , artists who have fetched similar prices at auction. It was for a JPG file by the artist Beeple, sold as a nonfungible token or NFT—digital artwork that is verified as original through the use of blockchain. Read Full Story

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Of course, there are now carbon offsets for NFTs

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The Weeknd’s recent NFT drop probably emitted the same amount of carbon as 86 transatlantic flights. But a new service says it can mitigate the effects of your next nonfungible purchase. Based on recent developments unfathomable to anyone born before 1990, it appears that people want to pay millions of dollars for digital images. Saving or screenshotting is not enough; internet users want to be sole and rightful owners of crypto-art, also known as NFTs, or nonfungible tokens, which can be images, video game assets, collectibles, or Jack Dorsey’s first tweet . Now, Nyan Cat is the new Mona Lisa , Cryptokitties are the new Impressionist paintings, and an artist named Beeple is the new Picasso. In a sale that’s a record so far, Beeple sold his Everydays piece, a collage of 5,000 pop culture images, through Christie’s for $69 million. ( Here’s a copy . You don’t own it.) …

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5 things people are getting wrong about NFTs

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As the CEO of a digital-goods marketplace, I’d like to clear up some myths about nonfungible tokens. They aren’t complex, pointless, or a bad investment. NFTs (nonfungible tokens) are having a moment right now. Tons of digital collectibles have been traded, including Dapper Labs’ NBA Top Shot , which raked in $1.05 million for just one recent pack of basketball videos, and Everydays: The First 5000 Days , a digital image by artist Mike Winkelmann (aka Beeple), which sold for $69.3 million at high-end auction house Christie’s. Read Full Story

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How Brands are Using NFTs

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Technology has been advancing at warp speed in the past few years. One area that has been enjoying some of the most rapid advancements is blockchain. That doesn’t mean solely cryptocurrencies like Bitcoin, Ethereum, and the slew of other cryptos being peddled on the crypto market. Let’s look at non-fungible tokens (NFTs) and how brands can use NFTs in their marketing campaigns. What Are NFTs? While they’ve been around for a couple of years, NFTs have recently become a hot topic (and even hotter investment). What are they, and how do they work? To understand non-fungible tokens (NFTs), we must first define the word “fungible.” If something is fungible, it can be exchanged for something of equal or similar value. A typical example would be fiat currency (and even cryptocurrency). It’s fungible because you can trade it for goods of an equal value. You can also trade it for another …

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The company behind the NBA’s NFT trading cards is now valued at $2.6 billion

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Vancouver-based Dapper Labs, the blockchain company behind the NBA’s collectibles marketplace Top Shot, just closed a major round of funding toward its goal: NFTs for all. NFTs, or nonfungible tokens , have exploded in both the financial markets and the zeitgeist at large. Simply put, NFTs use blockchain technology to authenticate digital assets, which can then be bought and sold—sometimes at staggering sums. Much of the hype around NFTs has been fueled by headline grabbing sales, such as the artist Beeple’s recent $69.3 million payday for a single digital artwork, Twitter CEO Jack Dorsey hawking his first tweet for $2.9 million, and the original GIF of the internet’s favorite Pop-Tart cat going for nearly $600,000. Read Full Story

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Unleash your inner Damien Hirst with Snapchat’s new filter

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And if you like it, maybe donate some money to a good cause. It is highly unlikely that you or I will ever be wealthy enough to acquire a piece of art from Damien Hirst. The provocative British artist, who first made a splash in the 1990s for formaldehyde-filled-tank sculptures occupied by preserved animals, is one of the world’s most successful living artists, with works sold in the tens of millions of dollars. Read Full Story

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Crypto art isn’t as absurd as it seems

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Why would anyone buy crypto art, let alone spend millions on what’s essentially a link to a JPEG file? For the same reasons people buy a Picasso: Art is inherently social. As an academic researcher , developer of artistic technology and amateur artist, I was quite skeptical about crypto art when I first read about it several years ago . Read Full Story

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