Last month, a Singapore investor bought a digital artwork for $69 million. Since the art does not have a physical form, it cannot appear in a usual museum.
What’s worth picking up at the NFT supermarket?
NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.
Bitcoin is itself an NFT, a unique digital art work instantiated on a blockchain. It’s the most valuable NFT in the world. I don’t mean a Bitcoin, obviously that’s a fungible thing. I mean THE Bitcoin … the 21 million Bitcoins that make up the Bitcoin Project. The notion that Bitcoin would ever “go to zero” is ludicrous. Good art is always worth something. But how do we measure that something … how do we put a price on the value of good art at this particular moment in time? It’s a REALLY tough question.
Drawing is being sold in an auction sponsored by the firm behind David Bowie’s online bank
— Read on www.theartnewspaper.com/news/basquiat-work-worth-usd120-000-to-be-auctioned-as-an-nft-and-winning-bidder-will-be-given-the-option-to-destroy-the-original
A “self-portrait” by humanoid robot Sophia, who “interpreted” a depiction of her own face, has sold at auction for over $688,000.