Every day, crypto technology evolves, and we observe a change in buying and selling things in the digital world. If Salvator Mundi by Leonardo da Vinci could fetch hundreds of millions of dollars, a digital selling of a 10-second video can also take you by a storm.
A Miami-based art enthusiast Pablo Rodriguez-Fraile bought a 10-sec video paying USD 67000. No other investment could have shot his balance sheet with profit like this –he sold the same art at astonishing USD 6.6 million! The incident set a hallmark of capitalizing on digital investments.
What is the video all about?
With the Internet name Beeple, Mike Winkelmann is a digital artist who made the video which was approved and authenticated by Blockchain as many digital signatures certified that it is an original work.
The artist says, "You can go into the Louvre and take a picture of the Mona Lisa, and you can have it there, but it doesn't have any value because you don't have the provenance or the history or the work. Again, the reality here is that this is very, very valuable because of who is behind [it]. It's a full career of a multi-generational, like a generational career in this space of being the best of the best." The art approved through Blockchain couldn't be condoned by the stakeholders for its genuineness –the hefty amount he earned corroborated this notion.
What are Non-Fungible Tokens (NFT)?
While other online digital trading methods are treacherous and insecure, NFT is the most foolproof method to buy digitally crafted art and other media.
It is a kind of crypto-asset based on the contemporary technology of Blockchain. In other words, the technology of Blockchain endows NFTs with the most secure trading on digital platforms.
A couple of years back, the NFT market had estimated the worth of hardly USD 42 billion that skyrocketed with the growth of over 700% by the end of the pandemic year 2020. The marketplace of NFT is expected to break all the records as the entire business ecosystems are turning virtual.
NFT could include anything –from digital artwork to sports cards to plots in real estate etc. Nevertheless, NFT drew everybody's eyeballs when NBA's Top Shot portal opened up to the users to purchase and trade NFTs. It was done in the form of visual clips from the games.
Continue reading: https://www.linkedin.com/pulse/non-fungible-tokens-technology-made-10-sec-video-worth-ashish-parmar
Antier Solutions is a reliable and reputable Non-Fungible Token Development company offering end-to-end non-fungible token development services.
Our skilled team of blockchain developers combines with subject matter experts to create the best non-fungible token with unique USPs.
Every NFT represents a particular real-world asset and can’t be directly converted to and from another token.
With Antier’s end-to-end NFT token development services, individuals and institutions can assure total ownership of their assets.
Our NFTs follow three standards- ERC-721, ERC-1155, and ERC-2309.
To know more about our NFT development services, feel free to call us.
Hence, both institutional and retail investors across the world are interested in purchasing lucrative digital collectibles.
They can attract millions of artists, brands, celebrities, designers, gamers, influencers, meme creators, musicians, publishers, photographers, and sportspersons.
These digital collectibles will be issued on the Ethereum and TRON blockchain networks respectively.
Non-Fungible Token development can also be done on other blockchain networks such as Binance Smart Chain (BSC), Cardano, EOS, Flow, Polkadot, Solana, and Stellar.
An accomplished Non-Fungible Token development company will help investors to protect their crypto collectibles safely.
Further, traders can store their NFTs in software wallets like Coinbase Wallet, Dapper, Fortmatic, MetaMask, MyEtherWallet (MEW), Portis, Trust Wallet, and WalletConnect.
