Trend on unique blockchain-tokens in the field of art is becoming increasingly turns. On the eve of the representative of the Linkin Park group Mike Shinoda announced the sale of his first work of digital art. A collection subject called One Hundredth Stream appeared on the Zora auction platform. The last rate for the acquisition of the subject at the time of this writing is 6.66 Weth - or about $ 11,655 at the current rate. That is, the topic is in demand, and investors are ready to lay out a lot of money for their acquisition. We tell about the situation more.
To begin with, we will remind the principle of the use of the blockchain in the world of art. The blockchain is that there is a chain of blocks with data - is unchanged, that is, after making information there, it remains forever in it. In addition, anyone can explore the contents of any address, that is, roughly speaking, look into someone's wallet, even if the identity of the owner is unknown.
The combination of these factors helps the niche of art. The creators of various works bind their creations with unique NFT-tokens - like ETH, DOT or TR ethers - only that exist in limited quantities. Since the contents of blockchain-wallets can be seen by other people, it makes it easy to confirm that it is you owning a certain job. And the ownership is indisputable. If the user has a certain NFT-token, then there may not arise any questions to the right of ownership.
Now the popularity of NFT-tokens is growing. More and more celebrities join the movement and create unique things. Well, investors are happy to invest money in unique things and, among other things, resell them.
Digital art on the blockchain
It seems that this is just the first collective digital object from shinoda, since he promised on Twitter that "will" release a lot more. " The artist also noted that due to the idea of unique NFT-tokens, the efforts of creative people may be appreciated by the market.
A little later, Mike published a message in which he shared his attitude towards the prospects of this topic. A replica brings Decrypt.
That is, the artist believes that this niche is in its infancy, and therefore the world has yet to find out whether it is really suitable for people. We believe that the use of the blockchain in the art industry is justified and convenient. As we have already noted, the chain of blocks is distinguished by transparency, which will allow anyone who wants to check the authenticity of work and make sure that it is possession of a certain person. Since the cases of fakes in art is enough, the introduction of the blockchain seriously changes the rules of the game.
In addition, her digitalization will allow to offer its work to more artists and other creators. So the industry will only benefit from it.
Auctions of unique digital goods, paintings and other items have been heard in the cryptocurrency community for several months. The last bright example of such trades was the sale of digital art objects from the Animator Justin Royland, who worked on the famous animated series Rick and Morty. The sale transaction was estimated at 150 thousand dollars at the Etherumer at that time. Now it costs much more.
Another case is a huge number of transactions on digital basketball cards that have separated from buyers as "hot cakes" on this weekend. It is about digital objects of NBA Top Shot NFT, 2673 of which were sold on this Saturday just 30 minutes after the start of the bidding, the source reports.
The excitement around the trading was so big that only a part of 25 thousand buyers in a virtual queue was able to get their NFT-tokens. Another experience in the auction shared a representative of Ritholtz Wealth Management Michael Batnik. Here is his quote.
The Dapper Labs team facing the popular game of Cryptokitties, launched a public open beta version of NBA Top Sot last fall after several months of closed testing. Several NBA players joined the round of investments in the amount of $ 12 million for Dapper Labs, which created its own blockchain for the NFT called Flow.
We believe that the popularity of NFT-tokens and digital art will only increase this year. And this once again proves the unlimited version of the application of the blockchain, which is really able to change the world. Apparently, then the number of stars in this industry will continue to increase.
We recommend that you closely monitor new projects in this area. To always be aware of events, join our cryptocat of millionaires.
Subscribe to our channel in Telegraph to be aware.