It is not generally the artwork. Rather, what one is buying is a digital"token" that, strictly speaking, refers to a transaction.
While crypto-art enthusiasts make much of the uniqueness of NFTs, they are unique in the way a bar code is. A bar code is a distinct identifier associated with an object, say a pair of sneakers or a can of sardines. Bar codes enable stores to keep track of inventory; NFTs allow keepers of a blockchain to keep track of transactions about a file.
Sometimes, NFTs are connected to physical things, as was the case with the disappearing Basquiat. High-end sneakers, expensive streetwear and baseball cards are some of the items now on offer via NFTs, which act here as a kind of ownership certificate. In the spirit of Andy Warhol, I'd like to mint an NFT for a can of Campbell's soup.
It's hard not to see this as a case of digital tulip fever. Can you imagine paying millions of dollars for a bar code? Then again, perhaps this is the apotheosis of Warhol's soup can strategies — attributing value to that which seems the most banal.
NFT is just digital form of Sotheby's, instead some old currency notes, coin or paintings, right now is a bar code or tweets. At the end, is just another rich man's games.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: msianinsight - 🏆 8. / 63 Read more »
Source: malaymail - 🏆 1. / 86 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: UMonline - 🏆 27. / 51 Read more »
Source: UMonline - 🏆 27. / 51 Read more »
Source: UMonline - 🏆 27. / 51 Read more »