Sunday, February 6, 2022

How do I get 10% off smiggle? What is core power cancellation policy?

How do I get 10% off smiggle?

What is core power cancellation policy?

Does funky pigeon do student discount?

What is UGG birthday bonus?

Is a gift card a good gift for a kid?

Does Hibbett do student discount?

How do I get my 10 off Wayfair coupon?

How do I get a UNiDAYS account?

Do Asda give blue light discounts?

Does Tractor Supply give military or senior discounts?

Where do I put promo code on Royal Caribbean?



How do I get 10% off smiggle?

Does the Smiggle newsletter offer a subscription discount? Yes, sign up to the Smiggle mailing list to receive a 10% discount on your next shop. Smiggle will also send you the latest offers, product updates and information about upcoming competitions straight to your email inbox.

What is core power cancellation policy?

If your order is canceled after your payment method (e.g., credit card) has been charged, we will issue a credit to you (e.g., refund to your credit card you used to make the purchase) in the amount of the charge.

Does funky pigeon do student discount?

Currently, there is no Funky Pigeon student discount. This means there's no Unidays, NUS Totum or Student Beans code.

What is UGG birthday bonus?

$20 coupon every time you earn 250 points. early access to promotions. exclusive events. birthday bonus. free expedited shipping.

Is a gift card a good gift for a kid?

Luckily, gift cards are always a safe bet. Available in plastic or eGift and in various denominations, you can give a child or teen the gift of choice. From their favorite restaurants to retailers, giving a gift card is a win-win for both you and the recipient.

Does Hibbett do student discount?

Despite not offering a student discount, there are many ways to save at Hibbett Sports. We have compiled all the ways you can find a discount at Hibbett Sports below.

How do I get my 10 off Wayfair coupon?

Be sure to sign up for Wayfair's email list to receive periodic exclusive coupon codes sent directly to your inbox. Often they'll send out a one time 10% off discount code.

How do I get a UNiDAYS account?

Students who attend college or university that are given a personal institution email address or credit card style student ID issued directly by their institution qualify for a UNiDAYS account. Students must be over the age of 16 to qualify for a UNiDAYS account.

Do Asda give blue light discounts?

Blue Light Card Terms and Conditions 10% discount across Asda stores including George and Optical. Open to UK blue light card holders aged 16 or over. Discount is valid in-store only.

Does Tractor Supply give military or senior discounts?

No! Tractor Supply does not offer a military discount.

Where do I put promo code on Royal Caribbean?

From your shopping cart, click on the “Royal Caribbean Discount” link. Enter your Royal Caribbean promo code. Click APPLY.

Does Uber take blue light card? Does the entertainer Do Blue Light Card?

Does Uber take blue light card?

Does the entertainer Do Blue Light Card?

What app gives you your first ride free?

Can you use Target circle for gift cards?

Do Woolworths offer seniors discount?

Is FragranceNet a trusted site?

Where do you enter promo codes on discount Tire?

Why is my gift card not working Target?

Where are clipped coupons on Walgreens app?

Is there student discount at Zara?

Why do companies give employee discounts?

How do you get 50 off Jersey Mike's?

Do Asda staff get discounts?

Does SHEIN give coupons?

Does Joe Fresh offer free shipping?

How do you enter a promo code?

How much do you save with student discount Apple?



Does Uber take blue light card?

To qualify, employees in the NHS and emergency services must log into their Blue Light Card account to receive an Uber Eats offer code, and their meal will be delivered in participating areas between 11am – 3pm*.

Does the entertainer Do Blue Light Card?

Why we The Entertainer nhsDiscounts.org.uk was created to sort through all the best NHS, Blue Light Card, Health Service Discounts (for eligible individuals) but also for everyone else, too. Make sure to check for The Entertainer offers first before buying online.

What app gives you your first ride free?

All new riders can get free or discounted rides by using an Uber promo code in the Uber app. Depending on which promo code you choose and the price of your first ride, your first ride could be free. For example, if you choose promo code NEWRIDER15, you will get up to $5 off each of your first 3 rides.

Can you use Target circle for gift cards?

Offer valid for one transaction up to $500 in Target GiftCards ($25 maximum discount) on Target.com per Target Circle account. Transaction can include multiple Target GiftCards. Offer is redeemable only through Target Circle. Terms and conditions apply to gift cards.

Do Woolworths offer seniors discount?

New South Wales One of the latest deals to be offered is with supermarket giant Woolworths, which offers Seniors Cardholders a number of discounts, including 5 per cent off the price of Woolies' WISH gift cards. Other offers include, but are not limited to: 10 per cent off pre-booked journeys with Towncars.

Is FragranceNet a trusted site?

The majority of FragranceNet reviewers would say that yes, FragranceNet is a reliable site. Many shoppers applaud FragranceNet for offering reliable shipping, customer service, and product quality, particularly those who leave reviews on TrustPilot.

Where do you enter promo codes on discount Tire?

At checkout, find the field labeled “Promo Code'. Enter your code in the promo code field and click enter to get the Discount Tire discount added to your final price immediately.

Why is my gift card not working Target?

If your Target gift card doesn't work at checkout, take it to the service desk or call (800) 544-2943 to get the problem fixed. You don't need to have a receipt. Last week Target made another announcement regarding that breach.

Where are clipped coupons on Walgreens app?

Click on Weekly Ad & Coupons. The Walgreens App makes it really simple to Clip the Coupons to your account. Just click on “Weekly Ad & Coupons” from the Home Screen to see all of the current coupons.

Is there student discount at Zara?

Does Zara do student discounts? Students looking to score a discount on a range of on-trend styles including jackets, tops, shoes, and other fashions can save by shopping the many online sale offers. However, there is no discount specific to students.

Why do companies give employee discounts?

Perk for Employee Recruitment The lure of a special discount on items from the company store is a perk that employers offer when hiring new employees. This perk, offered in combination with other employee benefits, helps make the employer's recruitment efforts more successful.

How do you get 50 off Jersey Mike's?

Jersey Mike's is offering 50% off on all subs when you place your order online or via the Jersey Mike's app. There is no coupon code needed. Add the eligible items to your cart and the discount will automatically be applied.

Do Asda staff get discounts?

Alongside a competitive salary, you'll get lots of other great benefits too, including 10% off your Asda shopping, a pension scheme, bonus scheme and discounts across a range of services and activities, from airport parking to theme parks and cinema tickets.

Does SHEIN give coupons?

Does SHEIN have coupons? Throughout the year, SHEIN offers a variety of coupons. One simple way of saving at SHEIN is simply signing up for their newsletter, which gives you access to discounts from anywhere between 15-20% off your purchase.

Does Joe Fresh offer free shipping?

Joe Fresh Free Shipping Shop in the Joe Fresh sales section or for new arrivals and get free shipping on all orders of $25 or more. If your order is less than $25, pay as little as $8 for your standard shipping costs.

How do you enter a promo code?

HOW TO ENTER PROMO CODES ON A MOBILE DEVICE IN ROBLOXYouTubeStart of suggested clipEnd of suggested clipThe the regular app inside of a mobile device does not actually let you go and enter those promoMoreThe the regular app inside of a mobile device does not actually let you go and enter those promo codes. So now if you want to go look at the item that you've entered you can go into the avatar editor.

How much do you save with student discount Apple?

How much discount does a student get at Apple? Students get up to $200 student discount on all new Mac models (MacBook Air, MacBook Pro, iMac, iMac Pro) or iPad models (iPad Pro, iPad Air, iPad, iPad Mini).

Tuesday, January 25, 2022

Why should you invest in NFTs

Of course, it will probably always be best known as the microblogging site where people can talk smack to each other… And occasionally share useful information. But this year, CEO Jack Dorsey testing the NFT waters and sold his first tweet as an NFT for a ridiculous $2.9 million. And that seemingly set the wheels in motion. Not long after that, Twitter announced it would be in the NFT-making business. The announcement, naturally, came via a tweet:

5 NFT Stocks to Capitalize Off the Digital Craze

When non-fungible token (NFT) sales cracked $2 billion in the first quester of 2021, the running consensus was the bubble was about to burst. Then sales continued to rise. And growth isn’t slowing down just yet. That being said, NFT marketplaces can be difficult to navigate. And even harder to spot a good deal. However, you don’t have to be an art aficionado to make money from NFTs. In fact, you don’t even need to invest in actual NFTs. That’s what these NFT stocks are for.

Investor holding the possibilities of NFT stocks in his hands.

First off, let’s start with the basics. NFTs can cover a wide range of digital assets. Among the most notable are of course the digital collage by Beeple, which sold for $69 million at a Christie’s auction. But they can just as easily be video clips, music, sports collectibles or even video games. The key point here is that the NFT data is stored on a digital ledger. And that ledger certifies that the NFT in question is indeed unique. That’s the key here. Some folks are willing to shell out big bucks for the authenticated version. But the screenshot or audio-ripped copy, not so much.

Now onto the companies poised to make a big splash in the NFT space…

If you happen to find the next big NFT artist, good for you. But figuring out which 12-year-old coder is making a splash before the news gets out is a needle-in-a-haystack mission. But now that Wall Street has seen that there’s money to be made in NFTs, it’s a lot easier to figure out what NFT stocks are in the best position. Especially since there are much fewer of them.

However, even though there are dozens of companies making a play in the NFT space, some are in a better position than others.

Asides from the general acceptance, NFTs are popular because they are limited and if you understand the principles of demand and supply you’ll come to understand why you should buy NFTs. If you are interested in collecting unique or limited collectibles then you should consider entering the NFT market.

Is it safe to buy NFT in 2022?

Just like cryptocurrencies, it’s safe to buy and own NFTs but that doesn’t mean that it doesn’t come with risks. What are these risks? Well, you won’t need to worry about losing your NFT because the technology behind does not allow NFTs to be stolen or changed but if you do not carry out enough research when purchasing an NFT item of your choice then it might get devalued in the coming years which means that you may not be able to recover the money used in purchasing. Asides from that, if you purchase a popular and limited edition of an NFT then you wouldn’t have to worry about it depreciating over time.

Are NFTs Worth Investing In?

NFTs and why should you invest in Digital Art

Funny Dino NFT

New and revolutionary use cases for cryptocurrencies have begun to emerge as the world of cryptocurrency continues to grow into new domains. Non-fungible tokens have revolutionized blockchain technology, which was formerly only utilized for crypto trading.

Non-fungible tokens' concept and purpose can be a little unclear. This article will provide a summary of NFTs, including what they are and why they are worthy investments.

What Are Non-Fungible Tokens?

Non-fungible tokens (NFTs) are a unique form of token that can be traded because of their unique properties. Simply defined, non-fungible tokens have distinct characteristics and can be bought and sold.

NFTs allow you to use the blockchain to buy and sell ownership of unique digital goods, as well as keep track of who owns them, and it can hold anything digital, such as artwork, animated GIFs, sounds, or video game essentials. The blockchain keeps track of who owns each unique file, whether it's one-of-a-kind, like a real-life painting, or one copy of many, like print editions. An NFT, in effect, establishes that the digital artwork you purchased is one-of-a-kind or limited-edition; it establishes scarcity.

An NFT, however, is about possessing a one-of-a-kind version of something that the majority already like.

Are NFTs Worth Investing In?

For art collectors, NFTs are an exciting option because you're buying and investing in both a new revolution and the art. NFTs will reshape the art system in the same way that Bitcoin and Ethereum have changed the financial landscape.

You can purchase and sell NFTs on a number of markets, all of which have strong liquidity. NFTs are a game changer for both artists and collectors since they provide fresh liquidity for artists as well as a tamper-proof storage medium with automatic incentives on future sales.

The fact that the video clip by digital artist Beeple sold for such a high amount has caused a frenzy and more interest in investing in digital art. Another noteworthy NFT sale is Nyan Cat. The meme was auctioned for nearly $600,000 in February. As mentioned above, visual art is not the only asset that can be traded via an NFT. Basically, any type of content can be sold via a token. Twitter founder, Jack Dorsey, is currently auctioning off his first tweet, and rock band Kings Of Leon are selling special editions of their new album via NFT.

Why everyone is talking about NFTs

Have you ever thought about investing in art? Well, here’s a new way to do it, and it involves blockchain technology: They’re called NFTs and have been widely discussed in recent weeks due to some pricey transactions. So what are NFTs and why is everyone talking about them?

Due to the features explained above, NFTs have become increasingly popular for trading digital art pieces in recent months. The blockchain-based tokens allow the copyright owner to be identified and verified on a public record. NFTs are unique, cannot be swapped for other tokens and can’t be manipulated. So in short, NFTs are a new way of proving copyright and trading ownership.

But what is the hype about? NFTs have been around for more than two years and have been gaining lots of traction. That is because one art collector sold his NFT of a ten second long video clip for $6.6 million. He only bought it in October 2020 for $67,000.

The #1/1 from beeple's first NG drop has just resold on the secondary market for $6.6 million.

History has just been made.

Congrats to beeple and of course to @pablorfraile for the sale. pic.twitter.com/mTYG4VABSw

— Nifty Gateway (@niftygateway) February 25, 2021

Why would anyone pay that much money for a piece of art that can be looked at for free online? Well, the same applies to physical art that you can see in museums but which you don’t own and have no right to reproduce. Thus, NFTs are all about the ownership and copyright of a piece. Plus, stealing copyrighted content has always been an issue on the internet and NFTs are a way to make things more transparent.

The fact that the video clip by digital artist Beeple sold for such a high amount has caused a frenzy and more interest in investing in digital art. Another noteworthy NFT sale is Nyan Cat. The meme was auctioned for nearly $600,000 in February. As mentioned above, visual art is not the only asset that can be traded via an NFT. Basically, any type of content can be sold via a token. Twitter founder, Jack Dorsey, is currently auctioning off his first tweet, and rock band Kings Of Leon are selling special editions of their new album via NFT.

But fear not, you don’t need millions or hundreds of dollars to get into NFT trading. NFTs are commonly sold on marketplaces like Super Rare, Nifty Gateway or, if you are looking for digital basketball memorabilia, NBA Top Shot. Typically, transactions are made via the Ether currency.

Even if you are not sold on trading digital assets like these, it shows how versatile NFTs can be. For now, lots of new artists sell via NFTs to spread the word and lots of traders are trying to make big returns by reselling their tokens. The technology is here to stay though, so NFTs are definitely a space to watch.

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Lobus is a platform looking to give digital artists more control over their work. In the traditional art world, an artist sells their work for a single, upfront price — whether that’s through an auction house or to a private buyer. Lobus changes this by offering fractional ownership, allowing the original owner or artist to receive a percentage of sale prices down the line through NFTs.

Traditional art sellers are now looking at the possibility of artists and owners retaining part of a piece they sell, and benefiting from future transactions too. We look at exactly what NFTs are, as well as Lobus, the platform behind this shift, and how technology provider Alchemy powers it.

NFTs explained

Never heard of a NFT? Don’t worry, you’re not alone.

To explain non-fungible tokens, let’s first look at a fungible token. One bitcoin can be traded for another bitcoin, in the same way that a penny in the real world can be replaced with another penny, making both of these fungible tokens. By contrast, if something’s non-fungible, it’s unique and can’t be easily replaced, a one-off, like an original piece of art.

At a high level, NFTs are part of the ethereum blockchain but, unlike an ETH coin, extra information is stored that makes the token unique. There’s also a feature that allows artists to be paid a percentage every time the work is sold, which Lobus is taking advantage of. Buyers get some basic usage rights, along with bragging rights, while artists and owners get a cut as the work, hopefully, accrues value over time.

The advantage of using ethereum is that it allows for computer programs known as smart contracts to be available on a distributed network. On a platform like Opensea, these smart contracts are used to directly connect an artist and buyer.

NFTs and a $1bn market

Lobus is a platform looking to give digital artists more control over their work. In the traditional art world, an artist sells their work for a single, upfront price — whether that’s through an auction house or to a private buyer. Lobus changes this by offering fractional ownership, allowing the original owner or artist to receive a percentage of sale prices down the line through NFTs.

Run by ex-Christie's and Sotheby’s staff, Lobus recently raised $6m in a funding round, with investors including Upside Capital, 8VC and Franklin Templeton.

Lobus combines tools to manage collections, pricing history and analytics to help artists better manage their digital art. According to TechCrunch, Lobus has 45,000 art objects in its database, with physical and digital assets valued at $5.4bn.

“We’re really on a mission of making artists into owners. We are really leveraging the best of what NFTs are putting out there about ownership and asking the questions of how to help create different ownership structures and interrupt this asset class,” Lobus co-CEO Sarah Wendell Sherrill told TechCrunch.

"We are . asking the questions of how to help create different ownership structures and interrupt this asset class" - Sarah Wendell Sherril, Lobus co-CEO

Powering all this behind the scenes is tech company Alchemy, whose technology enables all NFT platforms to connect to cryptocurrency ethereum. Alchemy has seen transactions grow 54-fold to $25bn worth of ethereum projects, according to Bloomberg. According to Alchemy co-founder Nikil Viswanathan, the NFT market could be worth as much as $1bn.

Alchemy’s first customer was Matt Hall who, along with John Watkinson, created CryptoPunks — pixelated 8-bit characters that have traded hands on NFT platforms. The most expensive of these was CryptoPunk 3100, a bluish alien creature, which sold for $7.6m in March — it had initially sold for $2,139.76 in 2017, so you can see how Lobus’s fractional ownership model could appeal to artists looking to benefit from future transactions.

Why investors should care about NFTs

NFTs can be anything unique and digital, but it’s their use in the art world that has caught investor attention. A 50-second video by Grimes sold for $390,000, while Christie’s sold digital artist Beeple’s Everyday: The First 5000 Days at auction for an eye-watering $69.3m.

Investors might be interested for a couple of reasons. Perhaps they want to buy an NFT in the same way they might want to purchase a piece of art, although at some of the prices discussed, this could turn into the playground of the mega-rich — much like the physical art world. The other is that platforms like Lobus and technology like Alchemy are starting to attract funding. Should they become the de facto auction houses of the future, investors would be wise to keep tabs on them.

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In other words, NFTs cannot be mutually exchanged with other NFTs or digital assets; hence, the term, “non-fungible” which depicts that they are irreplaceable, and cannot be duplicated or replicated.

What are NFTs and how do they work?

Simply put, NFTs are digital assets that are non-fungible, meaning they cannot be altered or interchanged. These assets can be anything from original artwork, trading cards, music, photography, video clip, among other collectibles.

In other words, NFTs cannot be mutually exchanged with other NFTs or digital assets; hence, the term, “non-fungible” which depicts that they are irreplaceable, and cannot be duplicated or replicated.

Since each NFT holds its own value, they cannot be exchanged for one another like normal cryptocurrencies. Consequently, NFTs act more as a form of authentication than a form of exchange. Given that NFTs cannot be copied or altered, they are especially suited for tracking ownership of property that cannot be replicated, like the rights to a property for example.

So how do NFTs really work? NFTs exist on a blockchain which is a distributed public ledger that records transactions in a secure and decentralized manner. Specifically, NFTs are usually held on the Ethereum blockchain, albeit other blockchains support them as well.

Coming out of a COVID-19 shutdown, many museums have found themselves in their own financial depression trying to recover from a prolonged absence of ticket sales. And with news stories of Christie’s selling an NFT for $69M and the NBA making hundreds of millions in NFT sales, it makes sense that museums would look to NFTs as a potential source for new revenue. But how museums choose to use NFTs could significantly impact their digital transformation and have unforeseen implications that could potentially haunt them long into the future. I would encourage museums to follow Walt Disney’s advice and “not sign away anything they don’t know about.”

In 1936, in the middle of the Great Depression, a young Walt Disney turned down a deal with United Artists because they wanted to own the rights to his cartoons in a new medium that few had even heard of… television. “I don’t know what television is, and I am not going to sign away anything I don’t know about,” Disney reportedly said at the time. It was a bold decision during uncertain economic times that showed great foresight on Disney’s part. By 1966, it was estimated that an astronomical 100 million people were tuning in to watch Disney television shows.

Coming out of a COVID-19 shutdown, many museums have found themselves in their own financial depression trying to recover from a prolonged absence of ticket sales. And with news stories of Christie’s selling an NFT for $69M and the NBA making hundreds of millions in NFT sales, it makes sense that museums would look to NFTs as a potential source for new revenue. But how museums choose to use NFTs could significantly impact their digital transformation and have unforeseen implications that could potentially haunt them long into the future. I would encourage museums to follow Walt Disney’s advice and “not sign away anything they don’t know about.”

But first, what are NFTs? NFTs (non-fungible tokens) are rare collectible digital assets that are registered on the blockchain. NFTs have taken off primarily as a way to monetize natively digital goods like digital art, video game assets, and property/land in the metaverse. Because these goods have no physical component, they were historically difficult to buy and sell. By making digital assets ownable and giving them proven scarcity, NFTs have unlocked a new market for digital goods that exceeded $2.5B in the first half of 2021 alone.

In addition to selling natively digital goods as NFTs, many people have explored the process of minting or “tokenizing” physical objects into digital NFTs. The idea behind tokenizing a physical object, such as a painting, is that you could then own/buy/sell/lend that NFT as a digital proxy for the physical object.

While I have found that older generations often struggle with understanding why an NFT would have any value at all, this concept is rather intuitive for younger folks who grew up buying and selling video game assets, spending time with virtual reality, and hanging out in the metaverse.

So where does this leave museums? Museums own, protect, and share the world's most important cultural treasures. The obvious NFT play for museums desperate to raise money fast would be to tokenize the physical objects in their collections and sell off the official digital copies as NFTs to the highest bidders. The problem with this approach is that it requires museums to mortgage their digital future in the long run for a small payout in the short run.

Doni Tondo, Michelangelo - 1505–’06

In May, the Uffizi Gallery minted and sold a single edition NFT of Michelangelo’s Doni Tondo (1505–’06) for $170,000. The museum reportedly earned $65,000, splitting the profits 50/50 from the sale with technology partners Cinello for leveraging their patented DAW® (Digital Art Works) technology.

According to Cinello’s website , “All revenues from DAW® and from exhibitions are shared equally with our partners to ensure a new revenue stream without introducing any restrictions on ownership or current rights.” However, this statement shows a fundamental misunderstanding of the emerging NFT/metaverse culture.

Cinello are correct that the Uffizi is likely not legally signing away any digital rights, especially given that works like the Doni Tondo are technically in the public domain. The value of the NFT comes from the public perception that since the museum owns the physical work, it therefore would be the most respected authority to mint and sell the official NFT. But having sold this as a single edition, the Uffizi no longer has ownership over the NFT for the foreseeable future. Why does this matter? Because NFTs have become the standard format for owning digital goods, particularly in the metaverse.

Perhaps you are thinking, “Jason, you are a huge nerd. Nobody cares about your dorky NFTs and the metaverse.” But what you may be missing is that this combination of buying digital goods in NFT format for use in the metaverse is quickly becoming mainstream.

Shopify, the second-largest e-commerce solution behind only Amazon, just announced support for their 1,700,000 users across 175 countries to sell NFTs directly from their online stores. Last month, Facebook, with its 2.7B users, shared that it is betting its entire future on the metaverse. Zuckerberg defined the company’s “overarching goal” as “helping to bring the metaverse to life.”

Just as physical assets (drawings, paintings, sculptures, etc.) draw the public to physical museums, NFTs of their iconic masterworks will become the draw to museum’s digital properties in the metaverse long into the future.

What if instead of selling an exact replica of Doni Tondo, the Uffizi commissioned a digital artist to make an NFT inspired by the Doni Tondo? This would be a win/win in that the partnership would elevate the contemporary artist by associating them with the prestigious museum while allowing the museum to avoid digitally deaccessioning important artworks from their collection.

For example, the Italian CryptoArt duo Hackatao recently sold a series of NFTs inspired by Leonardo da Vinci’s drawing Head of a Bear, referred to as Hack of a Bear. By comparison, the combined sales from the Hack of a Bear NFTs significantly outearned the Doni Tondo NFT. The Hackatao work was done in partnership with Christie’s, who was auctioning off the actual da Vinci drawing. It is not hard to imagine how artists like Hackatao could also form similar partnerships with prestigious museums like the Uffizi for similar initiatives.

The Metaverse is still emerging, but many key components have started to take shape and are revolutionizing everything from e-commerce to media & entertainment, and even real estate. Our Grayscale Decentraland Report and Decentraland Tour make this concept more tangible by introducing one of the leading blockchain-based virtual worlds— Decentraland .

Crypto Investing Tips | eCommerce Marketing Guide| Dropshipping

Since non-fungible tokens are unique and on the blockchain, the industries that will adopt them the quickest will be those that trade on their brand's value.

Unique Sneakers, Louis Vuitton bags, or other pieces of clothing are the first items I would point to, especially since some of the luxurious brands are fighting counterfeit goods. NFTs can prove ownership and most importantly authenticity of such a good.

Crypto investment giant Grayscale has published a bullish report on metaverses, estimating that the “market opportunity” for bringing the metaverse to the mainstream may be worth over $1 trillion in the next few years.

The Metaverse

Crypto cloud economies are the next emerging market investment frontier and the Metaverse is at the forefront of this Web 3.0 internet evolution. The Metaverse is a set of interconnected, experiential, 3D virtual worlds where people located anywhere can socialize in real-time to form a persistent, user-owned, internet economy spanning the digital and physical worlds.

Illustrative Evolution of Web Communities

Web 1.0 - Netscape connected us online

Web 2.0 - Facebook connected us into online communities

Web 3.0 - Decentraland connected us into a community-owned virtual world

The Metaverse is still emerging, but many key components have started to take shape and are revolutionizing everything from e-commerce to media & entertainment, and even real estate. Our Grayscale Decentraland Report and Decentraland Tour make this concept more tangible by introducing one of the leading blockchain-based virtual worlds— Decentraland .

Projects like Decentraland are creating an open-world metaverse where users can log in to play games, earn MANA (the native token of Decentraland, with which users can purchase NFTs, including LAND or collectibles, and vote on economy governance), or create NFTs, giving them real world interoperability for the value of their time spent in-game.

The potential of this internet evolution has started to attract Web 2.0 companies like Facebook, which is shifting to a Metaverse company and is changing its name to “Meta”. At this inflection point, other leading Web 2.0 tech companies will likely need to start exploring the Metaverse to stay competitive, and the spotlight has prompted a new wave of investment in this emerging crypto category.

Play to Earn

Crypto-based play-to-earn games like Axie Infinity (AXS) are paving the way for unbanked people in some countries in South East Asia to bypass dealing with banks altogether, and instead rely on their play-to-earn accounts, panelists at a discussion about blockchain gaming in South East Asia said.

Top Play to Earn tokens by Market Capitalization

Blockchain Games

Commissioned by blockchain platform Stratis and undertaken by insight agency Opinion, the new research surveyed 197 video game developers in the United States and the United Kingdom.

The results showed that 58% of developers are beginning to use blockchain technology , and almost half of the respondents (47%) started incorporating nonfungible tokens (NFT).

How to Invest in NFTs?

Please read my previous article here: Invest in The Sandbox SAND.

One of the first internet marketplaces, eBay, also wants a piece of the new NFT market. The company sells some NFTs on their traditional online platform, but it might not stop there. If they allow cryptocurrencies and other digital assets, they’ll have a real chance at taking the market. EBay’s approach to NFTs differs from that of its major competitors. They want to focus on sales in USDs, rather than crypto, for now. It might seem like a more sensible option because it’s available to the masses.

PLBY was established in 1953. It has a market capitalization of more than $1 billion. Playboy, the firm’s lifestyle brand, announced on July 9th that it would collaborate with the Miami Beach Art Collection to exhibit NFT art. PLBY’s stock price increased by more than 2% following the announcement.

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About The Author

Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

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Why would anyone buy an NFT

they got suckered into the hot new tech thing

Why would anyone buy an NFT?

I was reading some articles on Non-Fungible Tokens (NFTs), and as I understand it there is a digital item (can be almost anything), and to prove you have "ownership", they use a blockchain ledger to verify who owns it. I am having a hard time understanding why anyone would pay to be recognized as the owner of something that can be copied for free and distributed for free. For example, if there is some digital artwork that someone owns, that artwork could be copied and distributed to anyone else free of charge so why does it matter whose name is on the blockchain ledger? Is it just for the prestige of ownership?

they got suckered into the hot new tech thing

Please google an article I read yesterday titled, “Why NFT’s keep disappearing”-or something like it. It details how NFTs are just recorded web addresses of where the digital item resides, not the item itself, it goes deep into the rabbit hole about token ID’s, token standards, violation or terms and conditions, multiple viewer services for such items and I realized at the end, it’s all a scam. If the web address where the item resides goes down, the NFT is pointing at nothing -error 404-. I guess. unless you host your own digital item, and lock/record the ownership on an NFT, on a cryptocurrency that doesn’t go extinct, then you can claim ownership . but that seems like a lot of If/maybes to record a copyright on artwork- There is an existing process for all that already in the real world. It’s called copyright of intellectual property, image copyright, etc etc. I guess there is always a way to part a fool from his money, this is just the latest iteration.

While most actual fine art can get harmed or lost, nft networks are indestructible. This is on the grounds that the information is put away on the blockchain where the tokens can’t be eliminated or imitated. Since the tokens are unchanging, it is you who is the real proprietor of the work of art and not the organization that makes the NFT.

How can purchasing NFT be beneficial?

  • There are numerous items which come with consumer’s collectible value. It can also be tangible in a way.
  • It is better explained as a digital art form. It ranges from Facebook post to digital sneakers.
  • Purchasing NFTs can be best as you can verify it.
  • Since NFTs are singular things that are totally interesting, you can’t exchange them like some other digital currencies.
  • You can’t exchange or trade your NFTat the NFT marketplace for two other NFTs.
  • Regardless of whether two NFTs exist on a similar stage or assortment, they can’t be traded.
  • The data recorded in a NFT basically allows a maker carefully “to autograph” their craft.
  • So regardless of whether a picture or piece of music has been shared in many occasions, in the event that you purchase the NFT, you’re purchasing something extraordinary.
  • Every token is recorded in a changeless record, utilizing the equivalent blockchain innovation that is behind different cryptographic forms of money.

The term NFT is being tossed around bounty at the present time, and interest in these peculiar blockchain tokens is simply set to fill in the coming years. However, prior to spending even a modest quantity on a NFT, or “advanced collectible,” you should know precisely what it is that you’re buying. It’s likely not what you anticipate.

While most actual fine art can get harmed or lost, nft networks are indestructible. This is on the grounds that the information is put away on the blockchain where the tokens can’t be eliminated or imitated. Since the tokens are unchanging, it is you who is the real proprietor of the work of art and not the organization that makes the NFT.

So purchasing a NFT from the NFT marketplace is altogether different from say purchasing a melody from a cloud have where the dealer as yet possesses the music and you just will tune in or stream it on your gadget.

The NFT can’t be separated into more modest units. Not at all like bitcoins that can be partitioned into more modest sections and exchanged, NFTs are really resolute.

Then there are other early adopters; they are into NFTs because they want to set the trend. In other words, they want to set the price of digital arts and reap big profits. How?

3 Reasons Why People Are Buying NFTs?

1. Scarcity

If you think back to the top examples of NFTs, they are all artworks worth millions of dollars. Then, it is only perfect that the first reason why NFT is gaining so much ground is that artists want scarcity for their crafts. How so?

Before now, anyone could go online and easily make copies of artists’ works for personal reasons without paying a dime. Unfortunately, the illegal duplicates are just as good as the original. For that reason, creators suffer dips in revenue selling their craft on the internet.

But thanks to the NFT technology, there won’t be illegal duplicates of artists’ works online anymore. Now, everyone can tokenize and track their ware online and control how many stays in circulation. How?

The NFT, through blockchain technology, makes it possible to claim ownership of digital arts with unique signatures. Beautifully enough, no one can alter the signatures. Most importantly, artists can determine the scarcity of their wares and still get royalties even in the case of resale.

2. Early Adoption

Beyond artists and musicians, other people are only into NFT because it is a trend. Perhaps many fear the technology won’t be sustainable because of its environmental impact. For that reason, they want to cash in on the trend while it’s hot.

Then there are other early adopters; they are into NFTs because they want to set the trend. In other words, they want to set the price of digital arts and reap big profits. How?

The said adopters will buy an NFT at a reduced rate and resell at a profitable price. A typical example of such an instance is Pablo Rodriguez-Fraile’s case; he bought Beeple’s Crossroads for just $67K in October 2020 and sold it for $6.6M after 4months.

3. Pandemic And Distrust In Dollar

Another reason most people jumped on the NFT train is the COVID19 pandemic. Most people were at home, and they were looking for any security. At that moment, cryptocurrency came to the fore and has been great ever since.

Weirdly enough, the pandemic and cryptocurrency boom happened when global economies suffered losses. For that reason, people couldn’t trust their savings in dollars and prefer to invest in NFTs.

That said, there might be other reasons why people buy NFTs. But rest assured that we have itemized the key ones. More so, the real question you should even be asking is if you should buy a non-fungible token. We say you should!

However, if i buy a painting worth millions, it doesn't add value to society. NFTs are the same in my opinion. Why should anyone buy/care about NFTs?

Why would anyone want NFTs?

Cryptocurrencies add value to society by being used more and more for real world goods, just like normal currency allows people to trade goods, thus adding value in the wellbeing of people.

However, if i buy a painting worth millions, it doesn't add value to society. NFTs are the same in my opinion. Why should anyone buy/care about NFTs?

edit: the reasons this subreddit gives don't convince me of nothing more than a "buy low sell high, make art and find someone to buy". He gets something with no value in the real world, the maker gets money and calls it a day. Couldn't i just make thousands of "art pieces" with different aliases and get rich that way?

edit two electric boogaloo: the meme of making an nft out of a dick pic doesn't make sense. Even if he buys it and destroys it there's still copies on the internet with his name. Sure, it's not "the original" but no one cares.

Art does add value to society. Your entire premise is flawed. I can't imagine a society without art. It sounds like an actual dystopian nightmare.

The NFTs that you mostly see aren't worth anything. Only fine art is valuable. An idea of an NFT holding value could come from utility as well. Say that you design a action figure (dimensions and all) and create a NFT with that. When sold it hands over the rights to all that information. There are many more ways to add utility to NFTs.

There is nothing legal that says transferring an NFT actually transfers any rights. You still have to patent, trademark and copyright things. Do you really think it’ll hold up in a court? “Yeah I bought this with crypto so the government couldn’t tax it, but I want you to protect my rights that I think I got from it.”

Fine art doesn't add value to society. When has a big painting aquisition benefited you? Also if you have something where "who has the right over it" is an impotant thing then there is already a lawful way to define that and change ownership. It still looks like a way to scam people by making thousands of drawings (maybe some copied aed distorted enough thtat a computer can't detect) and sell them, once done cash out.

I still don’t fully understand NFT’s. But feel musicians are the ones who would really benefit from them. ­čĄö prepare to see more record labels going under rapidly.

Why? Digital music as it is was not allowed to be legally transferred. Essentially with an NFT you can now resell that music. And as an NFT, the file have to live on someone’s server. what’s to prevent everyone from accessing that? Or what happens when the server goes down?

Personally I disagree with the idea that art doesn't add value to society. Can you imagine a world without art? No tv shows or movies, no music, no paintings, no photography, no theater, no books or poetry. Art is literally everywhere and is what makes us human. Art is emotions, it tells a story. Think about probably anything you do when you aren't working, and I bet art is involved in some way. You may not personally enjoy going to a museum and looking at the paintings of the classic painters, but that doesn't mean that it doesn't bring value. Value is more than just money. Art, and NFTs is and will be more than just making a quick buck. Personally I believe that after maybe a year or so, a lot of the lower effort "meme" type NFTs will die down. The bubble will burst a bit. But people who have dedicated their lives to making art will shine through and rise to the top, because beyond the tech of NFTs, people will want to buy their art to experience it, because they resonate with the art and the artist.

Really well articulated! True art was, is and will forever be an expression of our most inner world, the things that make us human.

I don’t think that’s what was being implied. They were saying that some rich person buying a “priceless” piece of art, doesn’t add value to anyone’s life.

Who buys digital art?

Following. It makes no sense other than a scheme on some level. Like hey, wanna come over and log into my digital living room and check out my paintings.

See Instagram for people’s current digital collection/ living room.

Exactly, people say "yea you can copy it but it won't be the original" ok but who cares?

Visual art is just one application, but what about things that have valuable digital utility?

One example is items in a video game, let’s say you earn loot/in-game currency for completing a task in a video game, pretty common right. What if every item was an NFT? Then you could import and export these items onto any game that supports NFTs and sell them on the multiple marketplaces.

This is just one example of the technology, I’m sure there will be many innovations in the future

This doesn’t make any sense. Developers do not give a shit if you are able to resell anything, in general. They’d rather make all of the money from each copy, rather than have money trading hands between players in some secondary market. They already make a lot of money from micro transactions. How the hell would NFT’s enable them to earn any more money?

I understand why you are questioning this but your first point about crypto currency adding value to society is not quite accurate. Yes it is used to buy goods and that can have a positive effect on the economy but it is not taxed so the economy actually suffers as does society. You need taxes for schools roads etc. Now the same can be said for crypto art as it is also not being taxed effectively however it has the added benefit of culture.

As for why NFT art vas value. People have said that it does. That is all that is needed for value to be applied.

As for where crypto art fits into the world, take a look at mixed reality, it is feasible to think in the not too distant future you will exist in a partial digital world except when sleeping. We are basically there already but it is done though our phones and laptops. Soon it will be glasses and headsets and 3D, animated, video and gif art will be a very cool way to digitally decorate your physical space.

Crypto art like traditional physical art can be used as a symbol of status and wealth. To some people that is important and because it is important they will pay a lot of money for it.

I love this topic because we are just getting started on the scope of NFTs and I think healthy scepticism is a good thing.

If you’re anything like me, you’ve been wishing for a quiet week in crypto news for a while now. Wouldn’t it be nice to sleep? But no, Visa decided to announce Monday morning that it paid $150,000 for a CryptoPunk NFT, a kind of blockchain art token, to add to its “collection of historic commerce artifacts.” In an accompanying blog post, Visa declared that “NFTs mark a new chapter for digital commerce.”

Why Did Visa Buy a $150K NFT? Why Does Anyone?

Aug 23, 2021 at 5:20 p.m. UTC

If you’re anything like me, you’ve been wishing for a quiet week in crypto news for a while now. Wouldn’t it be nice to sleep? But no, Visa decided to announce Monday morning that it paid $150,000 for a CryptoPunk NFT, a kind of blockchain art token, to add to its “collection of historic commerce artifacts.” In an accompanying blog post, Visa declared that “NFTs mark a new chapter for digital commerce.”

There are certain events and inflection points that mark the transition from fringe to something approaching mainstream, and crypto and blockchain have already had at least two of those in recent months. First we had a nation-state getting serious about bitcoin, then the entire U.S. Senate fought over whether wallet programmers are brokers.

Visa’s purchase of a CryptoPunk, I think, serves as a similar marker for the inevitable mainstreaming of non-fungible tokens. They’ve already featured on "Saturday Night Live" and drawn in celebrities from Tom Brady to Jay-Z, but the apparent stamp of approval from a major financial institution takes things to another level. Cynically, $150,000 is probably a steal for Visa considering the PR it’ll get (including this article). But the announcement set off a $20 million frenzy of CryptoPunk trading, and that hype train isn’t coming back to the station.

Visa’s move, though, also returns us to an inescapable question: Why in the name of all that is holy would anyone pay $150,000 for a 25x25 pixel image stored on an extremely expensive and slow database?

It’s impossible to wrap your head around this, I think, if you’re looking for a truly rational or utilitarian explanation. But there are some very good reasons, it turns out, rooted in our deep, totally irrational animal brains – the same strange forces that lead us to make other major purchases that seem completely loony if you think about them too long.

“You have this rock stuck on your finger,” points out William Quigley, co-founder of the NFT-focused WAX blockchain. “It doesn’t look like it does anything. It’ll never do anything. And you paid $10,000 or $20,000 for that.”

The transition to more and more online living, Quigley thinks, means physical status symbols like jewelry have new competition from similarly exclusive digital objects. Both Jay-Z and National Football League player Odell Beckham Jr. have recently bought CryptoPunks costing tens of thousands of dollars (at least) and made them their Twitter avatars. That's probably the biggest single use of NFTs right now. The uselessness, you might say, is the point.

To understand any of this, some basic knowledge about the technology is essential. NFT stands for non-fungible token, which basically means it’s unique. An NFT exists on a blockchain ledger just like a bitcoin or ETH token, but one bitcoin is basically the same as the other several million – they’re “fungible” (with an asterisk).

An NFT is just as immutable as a bitcoin, but there’s only one: There are 10,000 CryptoPunks, but each of them is unique, and that uniqueness creates a lot of variation in their value. Visa, for instance, bought one of about 3,800 female Punks. CryptoPunks are particularly attractive because they were issued in 2017, making them among the first NFTs ever created.

NFTs come in a lot of different forms – they can even be interactive objects programmed to change based on certain inputs – but the most common type right now are image NFTs. Many of these are still essentially links to JPEGs stored elsewhere, which is a genuine problem for trust in the assets. But just last week CryptoPunks announced it had moved all data onto the Ethereum blockchain itself. It seems likely that this move helped push Visa to finalize its decision, because the move makes the assets more robust. Expect more NFTs, especially 8-bit series like the Punks, to transition to on-chain storage rapidly and, if you’re an investor, maybe look for that as a feature.

All this adds up to something deliriously simple: An NFT is a unique digital object. It is exclusive in a way that even bitcoin can’t claim. In fact, not even most real-world status symbols have the capacity to be as unique.

When someone buys an NFT avatar, “they’re saying, this is who I am,” says Henry Love, a managing partner at the NFT-focused investing fund Fundamental Labs. “So it’s more like a custom Rolex with your name on it. It’s one of one.”

Another crucial thing to know is that despite Visa grabbing headlines and all the comparisons to Rolexes and diamond rings, the NFT craze seems to be truly broad and grassroots. Trading volumes on OpenSea, the dominant NFT trading platform, have exploded, recently hitting $1 billion in monthly trading volume for August. But even that’s just the 10,000-foot view: There’s a frenzy of collecting and creation going on across Twitter and Telegram. NFT drop schedules are being watched as closely as Yeezy or Supreme drops were a few years ago.

And while a lot of that is fueled by insider speculation, there’s also something that feels much more real and special about this than, say, debating whether you’re going to buy $100 worth of cardano or solana. Because they’re ultimately about identity and taste rather than just money, NFT shopping has a personal element that seems likely to draw a much broader user base.

However, there’s a major barrier, especially for Ethereum-based NFTs like CryptoPunks: Transaction fees on Ethereum make buying and selling less-expensive assets impractical. I was just about to buy a $60 avatar NFT (because I too am an ape afraid of being left behind by my tribe). But the transaction fee was $50, which is quite a psychological barrier.

That’s why low-fee standalone chains like WAX and Flow (which hosts NBA Top Shot), which are largely focused on less-pricey branded collectibles, are significant right now, and have a real opportunity to grow from a core value proposition. It also suggests the market for NFTs on Ethereum, which have a significant credibility premium, will get substantially more insane, particularly at the low end, when Ethereum completes its transition to a lower-fee, proof-of-stake system.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Aside from the visual pleasure of physical objects, nearly all the value art offers is, in some way, a social construct. This does not mean that art is interchangeable, or that the historical significance and technical skill of a Rembrandt is imaginary. It means that the value we place on these attributes is a choice.

A bubble bound to burst?

Personally, I want to buy only art I can hang on my walls, so I have no interest in buying crypto art. There are also environmental costs. Certain blockchains used for crypto art are really bad for the climate, because they require computations that consume staggering amounts of energy.

That said, if buying it right now gives you pleasure – and you enjoy sharing what you’ve bought and the community around it and you’re using a more environmentally friendly blockchain – that’s great.

If you’re buying it for some future reward, however, that’s risky. Will people care about your personal virtual gallery in the future? Will you care? Will crypto art even be a thing in a few years?

As an investment, it just seems inconceivable to me that the higher prices reflect true value, in the sense of these works having higher resale value in the long term. As in the traditional art world, there are a lot more works being sold than could ever possibly be considered significant in a generation’s time.

And, in the crypto world, we’re seeing highly volatile prices, a sudden frenzy of interest, and huge sums being paid for things that seem, on the surface, not to have the slightest bit of value at all, such as the USD 2.5 million bid to “own” Jack Dorsey’s first tweet or even the USD 1,000 bid on a photo of a cease-and-desist letter about NFTs.

Much of this energy seems to be driven by price speculation. It’s also worth noting that the winner of the Beeple auction seems to be heavily invested in the success of crypto art. The cryptocurrencies that drive crypto art are often considered highly speculative.

I have no doubt that, right now, there’s a big NFT bubble.

[Over 100,000 readers rely on The Conversation’s newsletter to understand the world. Sign up today.]

There have been lots of bubbles before – tulips, baseball cards, Beanie Babies – objects that were flying off the shelves one year and then piled up in landfills the next. And, in a bubble, a few headline-making winners get rich, while a whole lot of others lose their shirts. Even if crypto art lasts, maybe the particular artist or platform where you’re buying won’t be popular in the future.

My feelings about crypto art aside, I do believe that art is, fundamentally, a social activity. The more our social lives are lived online, the more it may make sense for some people to have their art collections online, too – whether or not blockchain is involved.

This article is republished from The Conversation under a Creative Commons license. Read the original article.

T h is allows the owner of the creation the NFT is linked with to be assured that they own the original piece authenticated by the blockchain. And by extension, NFTs also allows them the ability to trade the artwork in the future.

NFTs: Why Can’t I Just Take A Screenshot?

Zach of Mintable.app —A Next Gen NFT Marketplace

One of the most common questions we get about NFTs especially from those who are new to the digital artwork space is “Why can’t I just take a screenshot?”. As with every new technology, during the early stages of adoption, it is sometimes challenging to comprehend what value it brings especially for something that is intangible like digital artwork.

In the context of digital art, NFT enables transparent and trackable ownership. Whenever an NFT gets transferred to someone else, it is recorded on the blockchain. And this record is completely accessible to anyone.

T h is allows the owner of the creation the NFT is linked with to be assured that they own the original piece authenticated by the blockchain. And by extension, NFTs also allows them the ability to trade the artwork in the future.

Taking a picture of the Mona Lisa at the Louvre is not exactly the same as owning a piece from Leonardo da Vinci.
The same concept can be applied to NFTs for digital artwork. By taking a screenshot of an NFT, does not make you the rightful owner of the artwork.

Sure, you can admire the art for what it is just like how you can admire a picture of the Mona Lisa taken on your smartphone, but if the Mona Lisa appreciates even more in value over time, you cannot sell that picture of it on your smartphone to an art dealer because it is not the real thing.
And here’s where this common misconception starts.

An NFT in and of itself is not inherently valuable. Or rather it is only as valuable as the piece of art or creation that it ties itself to, or maybe certain perks it enables. Just like how a deed to a house is only as valuable as the physical house is or a Foo Fighters concert ticket being just a piece of paper if it doesn’t grant you access to the gig.

For some creators, NFTs also serve as a great tool that enables them to reward their buyers with perks through unlockable content. Through NFTs, a digital artist can seed vector files and 3D files that only unlocks when a buyer purchases the NFT. So before you take that screenshot of an artwork thinking you saved yourself a few ETH, think again. You might be missing out on some high-quality content that comes with the NFT.

Remember that time at the ball game where you walked past the Team Store on the way out and decided to pick up some merch to commemorate the occasion? A Dodgers cap perhaps to celebrate a win over the Yankees. If you really wanted, you could have saved a couple of bucks by buying a knockoff somewhere in Chinatown instead of from the official Dodgers store.

But we all know, in this case, we are buying more than just a cap here. We are supporting our favourite team.

With the emergence of NFTs, you too can support your favourite creators. By purchasing their creations, you are helping them continue down their artistic path. And as long as artists continue to get support from their community, they too can continue churning out pieces of work for their community to enjoy.

And who knows? Maybe 20 years from now, that original Dodgers cap from the year they won the world series that you picked up at that game might be worth something to someone.

In Victor Pelevin’s satirical novel “Homo Zapiens,” the main character visits an art exhibition where only the names and sale prices of the works are shown. When he says he doesn’t understand – where are the paintings themselves? – it becomes clear that this isn’t the point. Buying and selling is more important than the art.

Value as a social construct

Aside from the visual pleasure of physical objects, nearly all the value art offers is, in some way, a social construct. This does not mean that art is interchangeable, or that the historical significance and technical skill of a Rembrandt is imaginary. It means that the value we place on these attributes is a choice.

When someone pays $90 million for a metal balloon animal made by Jeff Koons, it’s hard to believe that the work has that much “intrinsic” value. Even if the materials and craftsmanship are quite good, surely some of those millions are simply buying the right to say “I bought a Koons. And I spent a lot of money on it.” If you just want an artfully made metal balloon animal, there are cheaper ways to get one.

Two people take photographs with their smartphones of a banana taped to a wall.

Conversely, the conceptual art tradition has long separated the object itself from the value of the work. Maurizio Cattelan sold a banana taped to a wall for six figures, twice; the value of the work was not in the banana or in the duct tape, nor in the way that the two were attached, but in the story and drama around the work. Again, the buyers weren’t really buying a banana, they were buying the right to say they “owned” this artwork.

Depending on your point of view, crypto art could be the ultimate manifestation of conceptual art’s separation of the work of art from any physical object. It is pure conceptual abstraction, applied to ownership.

On the other hand, crypto art could be seen as reducing art to the purest form of buying and selling for conspicuous consumption.

In Victor Pelevin’s satirical novel “Homo Zapiens,” the main character visits an art exhibition where only the names and sale prices of the works are shown. When he says he doesn’t understand – where are the paintings themselves? – it becomes clear that this isn’t the point. Buying and selling is more important than the art.

This story was satire. But crypto art takes this one step further. If the point of ownership is to be able to say you own the work, why bother with anything but a receipt?

In his original piece, “Buy This Column on the Blockchain!”, Mr. Roose provides more examples of NFTs, many of them works of digital art, that have sold for millions:

Would You Buy an NFT?

Would you want to own an official version of a digital good like a video, an image or a song? How much would you be willing to pay?

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Do you know what a nonfungible token, or NFT, is? Shira Ovide explains in the On Tech newsletter “NFTs Are Neither Miracles nor Scams”:

Allow me to explain to normal humans what’s happening: NFTs are essentially a way to transform a digital good that can be endlessly copied into something one of a kind. When someone buys an NFT, what they’re effectively getting is the knowledge of owning an official version of a cat with a Pop-Tart body, a song, a video clip of a basketball dunk or another virtual thing. The records of ownership are maintained on a blockchain.

Now that you have some context, you can understand a little stunt the New York Times journalist Kevin Roose pulled on March 24. He turned his column about the rise of nonfungible tokens into an NFT itself and put it up for auction. The title of his follow-up piece expressed his disbelief at the high prices fetched by NFTs amid the current frenzy: “Why Did Someone Pay $560,000 for a Picture of My Column?”

Do you share Mr. Roose’s astonishment that a digital token of a column that is available to anyone on The New York Times’s website sold for more than half a million dollars? Do you think that owning an official version of a piece of digital media is worth this much — or even worth anything at all?

In short, how do you feel about the recent NFT mania?

In his original piece, “Buy This Column on the Blockchain!”, Mr. Roose provides more examples of NFTs, many of them works of digital art, that have sold for millions:

The NFT market is exploding right now, as early adopters and cryptocurrency enthusiasts try to cash in on the trend. Recently, Mike Winkelmann, a digital artist from South Carolina who goes by the name Beeple, sold “Everydays: The First 5000 Days,” a tokenized collection of his art, at an online auction at Christie’s for more than $69 million. NFTs representing other pieces of internet art — like an illustration of Homer Simpson as Pepe the Frog — have sold for hundreds of thousands of dollars apiece. NBA Top Shot, a partnership between the N.B.A. and the blockchain company Dapper Labs that turns basketball highlight videos into unique cryptocollectibles, has $230 million in sales since 2019. Even well-known musical acts like Kings of Leon are getting in on the NFT action, selling millions of dollars’ worth of music in the form of digital tokens.

He then evaluates some of the arguments for and against the NFT boom:

Some of the NFT buzz is shallow hype, no doubt. The cryptocurrency world is full of scammers and get-rich-quick hustlers whose projects often end in failure. (Remember the initial coin offering boom?) And critics point out that NFTs and other cryptocurrency-related projects require enormous amounts of energy and computing power, making them a growing environmental hazard. There are also legitimate questions about what, exactly, NFT buyers are getting for their money, and whether these tokens will turn into broken links if the marketplaces and hosting services that store the underlying files disappear.

But there’s something real here that is worth taking seriously. For decades, artists, musicians and other creators have struggled with the fact that, on the internet, making copies of any digital artifact is trivially easy. Scarcity — the quality that gives offline art its value — was hard to replicate online, because anyone who downloaded a file could copy and paste it an infinite number of times, with no loss in quality.

Blockchain technology changed that by making it possible to stamp digital goods with a cryptographic marker of authenticity and keep a permanent record of its ownership. You can copy the file contained in an NFT all you want, but you can’t fake the digital signature behind it, which gives collectors of rare digital goods some peace of mind. And NFT fans think the technology could be used to keep track of all kinds of goods in the future — titles to houses and cars, business contracts and wills.

Students, read the entire article and then tell us:

In your own words, what is an NFT? How would you explain what a nonfungible token is to a friend or parent?

Would you ever buy an NFT? Of the NFTs mentioned in this article, which would you be most interested in owning? Would you sell a digital token of any of your own work?

How do you feel about the endless copying, altering and editing of digital media that takes place on the internet? Would owning an official version of a digital good like a video, a GIF or a song be worth something to you?

What other debates about the ownership of digital art have you heard about? For example, do you think that we need to do a better job crediting dance creators and preventing art from being copied on TikTok? What role might NFTs play in these conversations?

Are you concerned about the environmental impact of NFTs and other cryptocurrency-related projects? What do you think of the other arguments against the NFT buzz that Mr. Roose raises?

What questions do you still have about NFTs, cryptocurrency, blockchain or any of the other concepts in this article? Where will you look for answers?

About Student Opinion

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Students 13 and older in the United States and the United Kingdom, and 16 and older elsewhere, are invited to comment. All comments are moderated by the Learning Network staff, but please keep in mind that once your comment is accepted, it will be made public.

Proponents of NFTs say they’re the future of art collecting and will empower artists, giving them more financial control and a new audience hungry for digital art. But the CryptoVerses project, given its extremely famous and extremely accessible content, highlights a relevant question: what does it mean to own something everyone can access for free?

You can now buy the bible in NFT form. But why would you want to?

Perhaps you’re deep into cryptocurrency and blockchain technology and know exactly what a non-fungible token is. Or maybe you, like me, barely know what any of those words mean, but have a vague sense that dudes in a certain kind of bar love to talk your ear off about bitcoin and that NFTs are some kind of digital art. Maybe you saw the headlines when one NFT, by an artist known as Beeple, sold for $69 million.

Either way, you can now buy bible verses as NFTs, thanks to the four-month-old Israeli company CryptoVerses, which just announced that it sold a set of four consecutive verses in Exodus dealing with Shabbat, the shmita year and idolatry for a bit less than half a coin of the cryptocurrency Ethereum, or equivalent to $1,500. Their first sale was in August for 3.5 Ethereum, now worth around $14,000, and the encrypted verses offer both the original Hebrew and the Jewish Publication Society’s 1917 English translation.

Robot by the Forward

The prices are a bit less than $69 million, but still a lot for something that you can read for free online – including on CryptoVerses’ own website. After NFT verses are encrypted into blockchain, which makes them impossible to alter, and purchased, they remain free to view and read on the CryptoVerses site. Cryptoverses even says that owning their bible NFTs is not owning the verse itself, since the bible is public domain; in a press release, they compared owning their NFTs to owning a “medallion, where the purchaser becomes the owner of the medallion but not the owner of the verse written on it.”

This is actually not unusual in the world of NFTs; that $69 million piece by Beeple is available to not only see but also download for free, and it remains a mystery to me why someone paid millions for it. In fact, you can screenshot or download or otherwise access just about any NFT for free, even if you don’t officially own it. Some argue that easy access to NFT content increases the value of the artwork by increasing its popularity and renown and who knows – maybe that’s true. Isn’t all value basically a made-up social agreement? Hell, that’s basically our unspoken societal agreement about the green pieces of paper we carry around in our wallets.

Proponents of NFTs say they’re the future of art collecting and will empower artists, giving them more financial control and a new audience hungry for digital art. But the CryptoVerses project, given its extremely famous and extremely accessible content, highlights a relevant question: what does it mean to own something everyone can access for free?

Yonatan Bendahan, Cryptoverses’ co-founder, likened their NFTs to owning the first printed bible – you don’t own the content, but you own a groundbreaking version of it, an object that is in itself worth something, “like holding a valuable piece of rare Judaica,” he said in an email.

Bendahan also emphasized the potential preservation aspects of the project; because of the unique technology blockchain uses to store data, once a dataset is input, it cannot be changed. “Once the verse is encrypted no one, even us, can delete or alter it,” he said. “So just like the printing press revolutionized the spread and conservation of the Bible, so will the blockchain.”

A photo of Caras wearing a bitcoin hat in front of a wallpaper of bitcoin by the Forward

On the other hand, when I explained the project to a friend who actually understands some things about the world of crypto and blockchain, he pointed out that the public domain nature of the bible means anyone could create the exact same thing, though Cryptoverses will always have the status of being the first do to so.

Sure, anyone can copy most NFTs, but they’re designed to prove that ownership belongs only to one person, perhaps comparable to owning an original artwork even when prints and posters of it are widely available. (Of course, this is an imperfect metaphor when both original and print are identical digital pieces, instead of one being oil on canvas and the other being laser-printed on cardstock.) But because the source material for Cryptoverses’ project is public domain, you could truly make and own your own original NFT that would be, at least in content, identical, and you’d hold its official ownership, though it might lack the Cryptoverses branding and whatever cachet that confers.

But maybe that’s where the real value comes in. Ownership of some NFTs, such as those from the Bored Ape Yacht Club collection, come with perks, such as being invited to fancy parties, and a big part of the whole NFT world seems to be hype, bragging rights and a certain cliqueiness you get access to when you buy in, something particularly emphasized by the blockchain technology, which creates a public record of ownership – so everyone can see that you’re the owner of a hyped-up piece by Beeple. Value is relative, and pedigree has always been important in the art world; if anything, NFTs have simply boiled down the complex mathematics to pure prestige.

So maybe, in a certain crowd, it’s cool to say you own a part of the bible in NFT form, and that alone is worth thousands of dollars.

Why is NFT worth money

Ultimately, NFTs seem to be helping digital creators solve an age-old problem: creating value around digital assets that could otherwise be easily reproduced and shared on the internet an infinite amount of times. Thanks to blockchain technology and NFTs, digital creators now have an easy, simplified way to automatically keep track of and distribute money owed.

What the heck is an NFT (& what does it mean for digital artists)

You’ve probably heard the term NFT, or Non-Fungible Token thrown around a lot lately. But what exactly does it mean, and as a designer, why should you care? In this article, we explore what NFTs mean in the context of digital art, plus, how you can start turning your creations into sought-after NFTs. Let’s get straight into it!

What is an NFT?

Simply put, an NFT, or Non-Fungible Token, is a unit of currency stored on the blockchain that contains a unique digital file (e.g. images, audio, video, games, etc.).

When you buy an NFT, the digital content can still travel freely through the internet, but you own the “real” original file. The more hype this piece of digital content gets, the more value the NFT accrues.

Fungible vs. Non-Fungible

Before diving further into how NFTs work, it’s worth understanding the difference between fungibility and non-fungiblity.

A fungible asset is an asset that can be exchanged (or substituted) with similar assets of the same value. Currency is fungible, for example. The value of a $100 dollar bill will stay the same if you exchange it for five $20 dollar bills.

Unlike currency, non-fungible assets are unique and can not be interchanged. A classic example to illustrate non-fungibility is the famous Mona Lisa painting. There is only one original Mona Lisa housed at the Louvre—but there are thousands of prints for sale on the market. Of course, a Mona Lisa print does not hold the same value as the original portrait. The original portrait is considered to be a non-fungible asset as it is unique and can not be interchanged.

Mona Lisa by Rahul Khobragade

Mona Lisa by Rahul Khobragade

How NFTs work for digital creators

Traditionally in the art world, once a physical piece is sold, the artist no longer receives revenue from its future sales. However, when you sell a digital file through an NFT, you continue to make money long after that first transaction. As the original creator of the digital asset, you get a cut from every future sale of that NFT.

The concept is similar to royalties with the main difference being that NFTs can be automatically tracked and reconciled using the blockchain with no third-party required. With NFTs, this royalty is automatically collected and distributed on every sale through the decentralized blockchain.

Ultimately, NFTs allow digital artists to create scarcity for their creations, track future sales on that artwork, and share in the future value created.

Tools by Joanna Nowak

Art by Joanna Nowak

How to get started using NFTs

If you’re a graphic designer, you might be wondering how you can start turning your digital creations into sought-after NFTs. What does the process look like for creating (or ‘minting’) an NFT, and how much will it cost you?

First, you’ll need to have ETH (the cryptocurrency used for all transactions on Ethereum) and set up an ethereum wallet. Then, you’ll need to do some research on NFT marketplaces to choose the right platform based on the kind of digital assets you plan on selling.

Once you’ve chosen your platform, the cost of minting an NFT will typically range anywhere between $70 - $100. If your NFT sells, however, you’ll be charged an additional “gas fee” which tends to fluctuate greatly.

Once you’ve minted an NFT, you determine the starting price and how much in royalties you want to receive. Then, it’s up to you to promote your NFT online with a ‘drop’ and wait for the bidding war to begin.

Women in Crypto by DianaTraykov

Women in Crypto by DianaTraykov

Why would someone buy an NFT?

People have long been able to buy tangible collectibles like paintings, sports memorabilia, vintage cars, etc. And if you’re a buyer of collectibles, you’ll typically pay middleman experts to verify the authenticity of these pieces of work.

NFTs are essentially the digital equivalent of collectible items. With NFT’s, the blockchain serves as a built-in verification system where an item can be instantly traced back to its origin. Because NFTs are able to create digital scarcity, they are able to tap into a buyer’s desire to collect—something that was previously unavailable (or unverifiable) for digital assets. Plus, they can also be used as a store of value that potentially grows over time.

Are NFTs here to stay?

Ultimately, NFTs seem to be helping digital creators solve an age-old problem: creating value around digital assets that could otherwise be easily reproduced and shared on the internet an infinite amount of times. Thanks to blockchain technology and NFTs, digital creators now have an easy, simplified way to automatically keep track of and distribute money owed.

While many are excited about the prospect of making money with NFTs, others skepticize whether it’s simply another cryptocurrency fad that will eventually become irrelevant. Will NFTs give new meaning and significance to digital art? Maybe, as long as collectors are willing to continue buying them. Only time will tell. ■

In gaming, NFTs are used to create characters, avatars and items that players can collect to assist their gameplay and trade with other players. An item’s value depends on its use and rarity. Developers implement smart contracts that set out how NFTs function within the game. The contracts are stored on the blockchain. Items are traded as if they were physical assets. Each transaction is recorded on the blockchain.

What are NFT games?

Gaming is touted as one of the markets in which NFTs can play a role in driving growth. They enable content developers to monetise their creations, while players can earn cryptocurrencies by engaging with content.

NFTs use blockchain ledgers to authenticate unique digital collectibles. This is key to how NFT games work.

In gaming, NFTs are used to create characters, avatars and items that players can collect to assist their gameplay and trade with other players. An item’s value depends on its use and rarity. Developers implement smart contracts that set out how NFTs function within the game. The contracts are stored on the blockchain. Items are traded as if they were physical assets. Each transaction is recorded on the blockchain.

One of the first games with NFT characters was CryptoKitties, which launched in 2017 on the Ethereum blockchain. In CryptoKitties, players collect, breed and trade digital cats. Each cat is a unique NFT. Smart contracts define their characteristics and rarity, which in turn determine their value on the traded market.

“We launched CryptoKitties at the end of 2017… to show that you could do other stuff with blockchain other than decentralized finance,” @DapperLabs Head of Partnerships @CatyTedman says. “We landed on cats. The internet loves cats.” https://t.co/0LV2005gNR pic.twitter.com/xXrJWTO0sQ

— Yahoo Finance (@YahooFinance) October 25, 2021

Games like CryptoKitties release a limited number of NFTs, which are subsequently only available on secondary markets. Other games enable players to create new NFT items to use in gameplay.

Some NFT-earning games are designed as metaverses, in which players can receive rewards for playing the game and advancing their skills. Games reward players with cryptocurrency tokens, which they can use to buy the NFTs.

Players own in-game items, giving them the chance to earn money by reselling their NFTs on secondary markets, renting them to other players or transferring them off the platform. And because smaller cryptocurrencies have attracted interest from investors looking for large returns, tokens from a game like Axie Infinity have gained value on cryptocurrency exchanges.

This potential to make money is helping to drive the popularity of NFT play-to-earn games. Players can convert their tokens into fiat currency on exchanges. In developing countries, this can be a source of income for people who play NFT games to make money.

According to the BBC, unlucky seller maxnaut accidentally sold the Bored Ape NFT number 3,547 for $3,000 instead of $300,000, all due to a typo. He put the NFT up for sale on Saturday and entered “0.75 ETH” instead of “75 ETH” when listing the asset.

Not The First Time

Also known as “fat-finger” errors, they are not uncommon in the world of crypto trading. As recollected by CNET, the company behind the Tether cryptocurrency almost doubled its digital coin supply when it created new coins worth $5 billion because of a typo.

“In March, BlockFi meant to send 700 Gemini Dollars to a set of customers, worth roughly $1 each, but mistakenly sent out millions of dollars worth of bitcoin instead. Last month a company erroneously paid a $24 million fee on a $100,000 transaction.”

As NFT collections become more valuable —as is the case with Bored Ape— these types of accidents have become more common over the past year.

Last August, a user made the mistake of listing a Bored Ape NFT for $26,000, well below the original price. The blunder was capitalized by a buyer who was quick enough to “steal” the asset and resold it for a whopping $150,000 after turning down the original owner’s $50,000 offer to return it.

Also, in November, a user selling a CryptoPunk NFT listed it for $19,000 instead of $19 million while the fortunate buyer later placed it on sale for $1.4 million.

Just like the metaverse has captivated the imagination of the game industry, so to have nonfungible tokens (NFTs). But while the metaverse has been dismissed as science fiction hype, NFTs have stirred even more haters.

The DeanBeat: Why NFT game startups will win while big publishers wait for regulation

NFTs are a flashpoint for Valve.

Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 this upcoming January 25-27, 2022. Learn more about the event.

Just like the metaverse has captivated the imagination of the game industry, so to have nonfungible tokens (NFTs). But while the metaverse has been dismissed as science fiction hype, NFTs have stirred even more haters.

But after listening to a lot of talks at our GamesBeat Summit Next online event this week, I’m convinced that the startups are going to win the NFT gaming market as it moves toward mass adoption. I’ll back up my argument, but first I have some explaining to do because some very big gaming companies are turning like battleships into the NFT market.

If you look at Google Trends, you’ll see that NFTs started picking up in February and skyrocketed after related NFT sales like digital art and NBA Top Shot took off. Dapper Labs has now seen sales and resales of those NFTs top $780 million. In March, an NFT digital collage by the artist Beeple sold at Christie’s for $69.3 million. NFT sales hit $1.2 billion in the first quarter, $1.3 billion in the second quarter, and a whopping $10.7 billion in the third quarter as games such as Axie Infinity took off.

It’s a logical assumption that NFTs will sweep through gaming, much like they have through art. NFTs use the transparent and secure digital ledger of blockchain to uniquely authenticate one-of-a-kind items. This establishes digital ownership for players in games like Sky Mavis’ Axie Infinity, which has seen $2.4 billion in trading this year. This ownership model allows players to sell their leveled-up game characters for a profit, enabling a new business model for games dubbed “play-to-earn,” where players earn rewards.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's Why This Rare CryptoPunk NFT Just Sold For $1.2 Million In ETH

Here's Why This Rare CryptoPunk NFT Just Sold For .2 Million In ETH

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever.

What happened: CryptoPunk #9137 just sold for 300 ETH (CRYPTO: ETH) ($1,233,705 USD). The value of CryptoPunks is typically determined by Punk's attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.

Here are a list of its attributes and how many other Punks have the same trait:

  • Type: Male (6,039)
  • Accessory: Luxurious Beard (286)
  • Accessory: Hoodie (259)
  • Accessory: 3D Glasses (286)

Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.

Price Action: Ethereum is currently trading at $4,167.71, up 3.16% over the past 24 hours.

Data provided by OpenSea.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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If there is one question, I see getting asked by Photographers about NFTs, it is about copyright. Who keeps the copyright to an image that is sold as an NFT? The simple answer is the photographer does. This is absolutely not a new phenomenon in Art. You have the option of transferring rights but by default, the artist always owns the copyright to their art. What you are selling is technically a variant of this product. The original copy on the blockchain.

What is an NFT and Why I have decided to put my Photography on a Blockchain.

What is an NFT

NFT Photography is here and for Photographers, this is great news. Every so often a new technology will come up that can and will affect how to trade, perceive things and own things. One such technology is the NFT. This technology is promising to change the way we sell art, and I am here for it.

I believe NFTs will be a game changer for Photographers, and it will bring back to life a lot of beautiful pieces of photographic art that may have never been shared, otherwise. It is something I think it will add value to Photography as a whole with more photographers looking to create art. I have decided to join the list of growing photographers who have decided to put their work up and immortalize them as NFTs. Before I explain why, let me first explain what an NFT is and elaborate further why it will be a game changer for Visual Artists, most especially Photographers.

What is an NFT?

NFT stands for Non-Fungible Token. We know what a token is. A token is physical or virtual object that represents something. What does it mean for a token to be Non-Fungible? Well, let us first look at the meaning of Fungible – When something is fungible, it means you are able to replace it with another item. So, a non-fungible token is a token that cannot be replaced. When you put your visual artwork as a non-fungible token, it pretty much gives it authenticity and says hey, this is the original, this is the starting point and no, this particular instance of it cannot be duplicated. You can call it a digital certificate of authenticity.

How do I sell or collect Photography as an NFT?

First of all, NFTs are attached to cryptocurrency. The most popular one being used at the moment and the one I use as of writing this is Ethereum. You will need a cryptocurrency wallet like Coinbase to first of all list your NFT. Collectors can purchase your NFT using Cryptocurrency like Etherium or Rarible, depending on where you list your NFT. The funds will be transferred to your crypocurrency wallet as cryptocurrency and if you want, you can convert it to Fiat, which is another term for money. From your listing to the purchase to the transfer, everything will happen and be logged on the blockchain. This blockchain can be tracked and is more transparent.

What is a Blockchain?

NFT Photography blockchain

A blockchain keeps a record of your cryptocurrency or NFT transaction, digitally. It records any transaction made with cryptocurrency. Let’s say you put your NFT on the Ethereum blockchain, the blockchain records every transaction made with that cryptocurrency and how your NFT moves from collection to collection (if the collector decided to sell it) on that blockchain. A collector can purchase an NFT for 1ETH and if the value goes up, sell it for 5ETH. All this will be logged on the blockchain. In this case, you can call it a transparent ledger for your artwork.

What does it mean when you put your Photographic art as an NFT?

It means you are giving your original work a digital footprint. Throughout the lifetime of this piece of artwork, photo, or any other form of visual art, you can use that token as its certificate of authentication. Wherever it goes and whichever hands it gets exchanged on, the token will follow, and I believe this is a game changer for visual artist, most especially Photographers who may sometimes find it hard to valuate their art.

Why NFT Photography?

When I first heard about NFTs and the prospects of having a digital footprint for my Photographic work, I was curious and excited at the same time. I decided to delve more into what this NFT does and during my research my excitement grew. This is a game changer, I told myself. While surfing through most of the NFTS out there, I noted that most were digital works like drawings, paintings, gifs, animations, but not a lot of Photography.

This meant, to me, there is still a huge void that has not been filled and by golly we shall fill it. It means in the coming months and years we will see the rise of more NFT Photographers. If you sell physical prints of your work, you can literally create an NFT and that NFT can come with a physical copy. You can attach trips, classes, and so many extras to your NFT but most importantly, you are attaching long term value to your work. I feel like with NFTs, the possibilities are endless.

Why is Photography important in the NFT space?
Light Show by Toni Payne

Photography is one of the oldest art forms and in my opinion, one of the most impactful. If you check history, photographic works have told stories and pretty much been a good source of us being able to go back in time. What foods were we eating in 2021? How was it presented? How did photographers in 2021 perceive things like still life or styling food, or landscape or architecture, travel and daily life. What was the political atmosphere like? I believe these things are important to document and are invaluable assets. Instead of valuable images wasting away on someone’s hard drive, the prospect of selling them as an NFT can give them life.

You see, Photography is about the most notable art form that documents life as accurately as possible. It is unique in what it achieves and, in my opinion, one of the most useful when you wish to look back at history. I also feel like because in modern times, most people have camera phones, photography has become an underrated type of art form. I believe NFTs can change this.

That one Question Photographers ask about NFTs

If there is one question, I see getting asked by Photographers about NFTs, it is about copyright. Who keeps the copyright to an image that is sold as an NFT? The simple answer is the photographer does. This is absolutely not a new phenomenon in Art. You have the option of transferring rights but by default, the artist always owns the copyright to their art. What you are selling is technically a variant of this product. The original copy on the blockchain.

You the photographer can keep the rights and can still produce physical copies or merchandise to promote the art further but on a blockchain, it belongs to the owner’s collection. There can only be one original NFT. This is one of the things that makes NFTs so special. So, the NFT gives blockchain ownership but not the copyright to your image, unless you agree to give it up. Keep in mind, all through art history, even with historical pieces like the Mona Lisa, even when the physical art piece is owned by the collector, the copyright has stayed with the artist or its estate until 70 years after the artist dies. I wrote more about this here.

My Photographic Style

My work is a mixture of Photography and Photography with Mixed Media. I have an affinity for still life photography, you can see it in my photos of food and places. I also love Architecture. As a matter of fact, I simply love to document what I find interesting. When I shoot created still life, I love to create with shadows.

At the same time, I love to capture the world around me, so when I shoot found still life, I work with angles and my environment. The goal of photography for me is to freeze in time how a person, place or thing looked at a particular point in time. This sometimes has no rules. So, when asked about my style, I say it varies, because I believe your creativity should never be boxed in. As creatives, we are on a constant journey of learning and being inspired and I feel like our art should translate that. I don’t limit myself to one style. Even famous artists like Monet changed their style with time.

Photography as an art form

What a lot of people do not know is that Photography is an art form that is centuries old with its first attempts dating back as far as 1717. The earliest known surviving photographic image however was done in 1825 by Joseph Nic├ęphore Ni├ępce using the “heliographic process.”

When you now apply photography and think of it in an art form, just think of it as the same way a painter takes their brush and with each stroke, paints an image that captures our eye. This is also how a photographer takes their camera and captures an image of something, somewhere or someone that captures our eye and sometimes our soul.

NFT Photography solves some problems.

As a visual artist whose focus is photography, one of the challenges I believe I have faced is value. In an oversaturated market, how do you stand out? You know your work is great, you see its value but how do you translate this value? I believe the NFT fixes this issue. The NFT gives the image a sort of immortality, providing it is not deleted, albeit digitally. It can’t be damaged during shipping. No one can pour soda on it, and it is not going to rip because someone ran into it. What are the chances right? Well, you never know.

Why Metal Prints?

I offer optional Metal prints for some of my Still Life Photography art. One of the reasons I chose Metal Prints is because of durability and quality. Metal Photography Prints give access to both. As far as Metal prints go, the durability simplicity and style is something I feel my work deserves. What also makes it great is that, when you purchase my digital art form on a blockchain, you can also get the physical version to look at.

My Visual Art and it’s NFT Photography

My photography journey has been tumultuous. I came from an industry where I had it all figured out to start afresh somewhere where I had the knowledge and skills but not the recognition. It also came with me trying to find my creative voice and I believe this was the hardest part of it all. Most creatives understand the challenges of trying to find a place for your art in a vast world. Photography has been not only an outlet for me but also a savior of some sorts. When I pick up my camera, I do so with the intent of capturing images I am very proud to say I captured. As time goes on, I will continue to put my work up as NFTs. I hope this new found motivation will inspire me to capture more images that are timeless.

How do I purchase your NTF Photography Art?

Because my Art is on the Ethereum blockchain, you can purchase my NFT Art using the crypto currency Ethereum. My collection titled Everyday Africa is on Opensea. I am also on Foundation and Rarible. You can simply follow the links or click the image on my Website, choose which work you would like and make your purchase using your Ethereum Cryptocurrency or ETH. If you do not have Ethereum yet, you can purchase some on most crypto currency apps and transfer to your wallet.

As time goes on, and I continue to see the world and capture more visuals, I will put more of my work up as NTFs. You can view some of the ones I have available now here and feel free to support with a purchase knowing you are purchasing authentic work from the artist, a Photographer. If you would like to learn more about NFTs you can follow me on Twitter @ToniPayne

Much of this energy seems to be driven by price speculation. It’s also worth noting that the winner of the Beeple auction seems to be heavily invested in the success of crypto art. The cryptocurrencies that drive crypto art are often considered highly speculative.

Why the Hell Would Someone Pay $69M for a Link to a JPEG?

What does and doesn’t make sense about the crazy crypto art bubble.

Aaron Hertzmann, The Conversation

A s 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.

However, I follow a community of artists on social media, and some of the artists there whom I respect, like Mario Klingemann and Jason Bailey, embraced and advocated for crypto art. Within the past few months, activity and prices seemed to snowball. I started thinking it deserves to be taken seriously.

Then the Beeple sale happened.

On March 11, Beeple, a computer science graduate whose real name is Mike Winkelmann, auctioned a piece of crypto art at Christie’s for $69 million.

The winning bidder is now named in a digital record that confers ownership. This record, called a nonfungible token, or NFT, is stored in a shared global database. This database is decentralized using blockchain, so that no single individual or company controls the database. As long as the specific blockchain survives in the world, anyone can read or access it, and no one can change it.

But “ownership” of crypto art confers no actual rights, other than being able to say that you own the work. You don’t own the copyright, you don’t get a physical print, and anyone can look at the image on the web. There is merely a record in a public database saying that you own the work—really, it says you own the work at a specific URL.

So why would anyone buy crypto art—let alone spend millions on what’s essentially a link to a JPEG file?

A detail shot from the Beeple that sold for $69 million.

Reuters

It might be helpful to think about crypto art in the context of why people buy original works of art.

Some people buy art for their homes, hoping to incorporate it into their living spaces for pleasure and inspiration.

But art also plays many important social roles. The art in your home communicates your interests and tastes. Artworks can spark conversation, whether they’re in museums or homes. People form communities around their passion for the arts, whether it’s through museums and galleries, or magazines and websites. Buying work supports the artists and the arts.

Then there are collectors. People get into collecting all sorts of things—model trains, commemorative plates, rare vinyl LPs, sports memorabilia—and, like other collectors, art collectors are passionate about trying to hunt down those rare pieces.

Perhaps the most visible form of art collecting today—and the one that drives so much public discussion about art—is the art purchased for millions of dollars, the pieces by Picasso and Damien Hirst traded by the ultrawealthy. This is still social: Whether they’re at Sotheby’s auctions or museum board dinners, wealthy art collectors mingle, meet and talk about who bought what.

Finally, I think many people buy art strictly as an investment, hoping that it will appreciate in value.

If you look at the reasons people buy art, only one of them—buying art for your home—has to do with the physical work.

Every other reason for buying art that I listed could apply to crypto art.

You can build your own virtual gallery online and share it with other people online. You can convey your tastes and interests through your virtual gallery and support artists by buying their work. You can participate in a community: Some crypto artists, who have felt excluded by the mainstream art world, say they have found more support in the crypto community and can now earn a living making art.

While Beeple’s big sale made headlines, most crypto art sales are much more affordable, in the tens or hundreds of dollars. This supports a much larger community than just a select few artists. And some resale values have gone up.

Aside from the visual pleasure of physical objects, nearly all the value art offers is, in some way, a social construct. This does not mean that art is interchangeable, or that the historical significance and technical skill of a Rembrandt is imaginary. It means that the value we place on these attributes is a choice.

When someone pays $90 million for a metal balloon animal made by Jeff Koons, it’s hard to believe that the work has that much “intrinsic” value. Even if the materials and craftsmanship are quite good, surely some of those millions are simply buying the right to say “I bought a Koons. And I spent a lot of money on it.” If you just want an artfully made metal balloon animal, there are cheaper ways to get one.

Conversely, the conceptual art tradition has long separated the object itself from the value of the work. Maurizio Cattelan sold a banana taped to a wall for six figures, twice; the value of the work was not in the banana or in the duct tape, nor in the way that the two were attached, but in the story and drama around the work. Again, the buyers weren’t really buying a banana, they were buying the right to say they “owned” this artwork.

Eva Marie Uzcategui/Reuters

Depending on your point of view, crypto art could be the ultimate manifestation of conceptual art’s separation of the work of art from any physical object. It is pure conceptual abstraction, applied to ownership.

On the other hand, crypto art could be seen as reducing art to the purest form of buying and selling for conspicuous consumption.

In Victor Pelevin’s satirical novel “Homo Zapiens,” the main character visits an art exhibition where only the names and sale prices of the works are shown. When he says he doesn’t understand—where are the paintings themselves? – it becomes clear that this isn’t the point. Buying and selling is more important than the art.

This story was satire. But crypto art takes this one step further. If the point of ownership is to be able to say you own the work, why bother with anything but a receipt?

It still seems hard to get used to the idea of spending money for nothing tangible.

Would anyone pay money for NFTs that say they “own” the Brooklyn Bridge or the whole of the Earth or the concept of love? People can create all the NFTs they want about anything, over and over again. I could make my own NFT claiming that I own the Mona Lisa, and record it to the blockchain, and no one could stop me.

But I think this misses the point.

In crypto art, there is an implicit contract that what you’re buying is unique. The artist makes only one of these tokens, and the one right you get when you buy crypto art is to say that you own that work. No one else can. Note, though, that this is not a legal right, nor is there any enforcement other than social mores. Nonetheless, the value comes from the artist creating scarcity.

This is the same thing that’s happened in the art world ever since photographers and printmakers had to figure out how to sell their work. In the world of photography, a limited-edition print is considered more valuable than an unlimited edition; the fewer prints in the edition, the more valuable they are. Knowing that you have one of a few prints personally made and signed by the artist gives you an emotional connection to the artist that a mass-produced print doesn’t.

This connection could be even weaker in digital art. But what you are buying is still, in part, a connection with the artist. Artists sometimes publicly tweet their thanks to their crypto art patrons, which may strengthen this emotional connection.

Personally, I want to buy only art I can hang on my walls, so I have no interest in buying crypto art. There are also environmental costs. Certain blockchains used for crypto art are really bad for the climate, because they require computations that consume staggering amounts of energy.

That said, if buying it right now gives you pleasure—and you enjoy sharing what you’ve bought and the community around it and you’re using a more environmentally friendly blockchain—that’s great.

If you’re buying it for some future reward, however, that’s risky. Will people care about your personal virtual gallery in the future? Will you care? Will crypto art even be a thing in a few years?

As an investment, it just seems inconceivable to me that the higher prices reflect true value, in the sense of these works having higher resale value in the long term. As in the traditional art world, there are a lot more works being sold than could ever possibly be considered significant in a generation’s time.

And, in the crypto world, we’re seeing highly volatile prices, a sudden frenzy of interest, and huge sums being paid for things that seem, on the surface, not to have the slightest bit of value at all, such as the $2.5 million bid to “own” Jack Dorsey’s first tweet or even the $1,000 bid on a photo of a cease-and-desist letter about NFTs.

Twitter CEO Jack Dorsey is trying to sell his first tweet as an NFT.

Anushree Fadnavis/Reuters

Much of this energy seems to be driven by price speculation. It’s also worth noting that the winner of the Beeple auction seems to be heavily invested in the success of crypto art. The cryptocurrencies that drive crypto art are often considered highly speculative.

I have no doubt that, right now, there’s a big NFT bubble.

There have been lots of bubbles before—tulips, baseball cards, Beanie Babies—objects that were flying off the shelves one year and then piled up in landfills the next. And, in a bubble, a few headline-making winners get rich, while a whole lot of others lose their shirts. Even if crypto art lasts, maybe the particular artist or platform where you’re buying won’t be popular in the future.

My feelings about crypto art aside, I do believe that art is, fundamentally, a social activity. The more our social lives are lived online, the more it may make sense for some people to have their art collections online, too—whether or not blockchain is involved.

Aaron Hertzmann is an affiliate faculty of computer science at the University of Washington

This is not the first NFT artwork that has seen such massive appreciation in pricing. An NFT artwork under the CryptoPunks series by Larva Labs, called CryptoPunk 1422, was bought some time in 2017 for $74. In October this year, the artwork resurfaced as an NFT, and was sold at around $2 million.

Three-year-old NFT surges over 20,000 times in value to sell for over $2.3 million

Three-year-old NFT surges over 20,000 times in value to sell for over https://assets.techcircle.in/uploads/article-image/2021/12/images/27674-nft.jpg.3 millionPhoto Credit: SuperRare

A non-fungible token (NFT) art piece by London-based crypto artist, who goes under the alias XCopy, has been recently sold for 550 ETH (Ether), or about $2.3 million (approx. Rs 17.4 crore). The latter was adjudged to have accounted for the top two NFT sales in the world between November 29 and December 5, with the two XCopy NFT artworks fetching a cumulative value of over $3.7 million (approx. Rs 27.9 crore).

Xcopy’s NFT pieces have incidentally reflected a massive surge in value. The animated image, titled ‘Some other a**hole’, was published under the ‘SuperRare’ NFT marketplace. The first sale of the artwork was listed at 0.8 ETH, fetching about $106 at an NFT auction in March 2019. The second sale of the animated artwork took place in November 2019, when it fetched 3 ETH, or about $483.

The recent sale, listed on Monday, December 6, fetched the appreciated price. The surge in its price accounts for an increase of over 20,000 times since the pricing of its first listing on NFT marketplaces.

This is not the first NFT artwork that has seen such massive appreciation in pricing. An NFT artwork under the CryptoPunks series by Larva Labs, called CryptoPunk 1422, was bought some time in 2017 for $74. In October this year, the artwork resurfaced as an NFT, and was sold at around $2 million.

So far, the highest price paid for an NFT is the digital artwork by artist Mike Winkelmann, aka Beeple, whose ‘Everydays: The First 5000 Days’ was sold at a whopping $69.3 million. It remains the most expensive NFT sold till date.

“If that’s the only reason you’re doing it, you’re probably not going to have a fun time,” Goltra warned. “You need to get something else out of it. There is the spirit of community among digital artists that you should enjoy,” he said. “It’s a new medium of art that traditional collectors can explore in,” Dizon added.

Tatler speaks to local pioneers, Colin Goltra and Gabby Dizon of Narra Art Gallery, who are introducing crypto art at Art Fair Philippines this week. We dig deeper into what this NFT craze is all about

Non-fungible tokens (NFTs) collectors and close friends Gabby Dizon and Colin Goltra launched Narra Art Gallery in late January 2021 to provide an open gallery space where they can showcase digital art available in the crypto art community. The gallery features five different floors that serve as exhibit spaces accessible in the open-world virtual realm or Metaverse. Easily accessible via web browser on a computer, it is located at the heart of Decentraland’s 100xArt District neighbourhood.

It is also named after the national tree of the Philippines. Narra Art Gallery aims to open the doors to the crypto art scene in the Philippines and showcase incredible local talents across the country, and possibly from abroad.

Being collectors themselves for a while now, Dizon and Goltra initially founded Narra Art Gallery simply to display their personal crypto art acquisitions publicly. (Decentraland is designed to provide people with the means to buy plots of land in the virtual realm and actively build something on it, much like in MMORPGs that we play). But the co-founders of Narra Gallery saw a big potential for it to grow more, especially now with the recent rise of digital art galleries like theirs and the sudden digitalisation of many traditional art galleries and museums due to the unprecedented repercussions of the global pandemic.

Displaying crypto art, collectibles, NFTs, and other virtual reality projects, Narra Art Gallery has been tapped by the Art Fair Philippines this month to play a huge part in this year’s edition. With an online talk with Dizon and Goltra as guests to help people understand the crypto basics and how to buy an NFT, as well as a meeting of artists and gallerists that are also active in the crypto art community, the NFT 101 Showcase plays a huge part in this year’s Art Fair PH.

So what exactly is this new technology that is sweeping the local and international art community by storm?

09 April 2021, Berlin: ILLUSTRATION - A digital artwork featuring Scooter frontman H.P. Baxxter is up for auction on a website. Scooter will be the first band in Germany to release digital, animated artwork to accompany the new Scooter album "God Save the Rave" starting April 9. The artwork will receive a certificate of authenticity using NFTs, Non-Fungible Tokens, which cannot be manipulated. The digital artworks are marketed to music fans and collectors by start-up twlvxtwlv. Photo: Jens Kalaene/dpa-Zentr

NFT is…

An NFT or a non-fungible token represents any digital file that you may put on it: may it be a video, photo, music, gif image, etc. In the crypto art community, NFTs represent art pieces that an artist creates. It exists on a blockchain, mostly in the Ethereum blockchain.

How can it be transferred to another owner?

Through this blockchain, people may trade NFTs for certain amounts of prices. Blockchain technology democratises, in a sense, the transactions being made for it lets the people in the community validate the transactions themselves.

Can it be copied?

By its name, NFTs are non-replaceable tokens. Although it may be replicated, only one person in the world can have an NFT of a certain digital file. This can be proven by checking the ledger of the NFT where data of recent transactions in the blockchain are stored permanently.

Can it be physically displayed?

When you buy it, you will have access to the high-resolution file that comes with the token. Using the digital art frame Canvia, Dizon uploads the works to it enabling him to display it physically in his house. Goltra added that part of what you are receiving from the NFT is the building of the relationship between you and the artists. In his case, the artist sends him prints of the digital artworks.

How to ensure its authenticity and good condition?

The artist validates the profile of the receiver of the NFT, making it unique and authenticated when transferred. The NFT has its own unique identifier, so even though other people can make copies of it, the original and certified version will remain with you. One of the solutions that blockchain technology provides is the assurance that NFTs are forgery-proof from other users.

A New Era of Art Appreciation

NFT CryptoArt display in art gallery with people using smart phones and digital tablets. Entrirely 3D generated image. Image on the walls is my own and it

Digital art has existed in the contemporary art scene since the dawn of the Computer Age. But never in its history has it reached such an overwhelming record-breaking sale until recently when Christie’s sold Beeple's work, Everydays: The First 5000 Days , last March 2021 for US$69 million.

Beeple’s artworks used to be sold at around US$60 thousand. But his large fan base, being one of the pioneer digital artists in the crypto art scene, led to his works being auctioned off at such astonishing prices. This is one key factor why crypto art is on the rise nowadays—value, as perceived by the society and its owner. The same philosophy goes with how traditional forms of art are appreciated. The only difference is that it is in the digital world.

Besides Beeple, there are other NFTs out there being sold at soaring prices: the first-ever tweet on the Internet by Twitter founder Jack Dorsey, Kings of Leon’s When You See Yourself music album, digital video collectibles of NBA Top Shot, and even a gif of an animated flying cat.

“The ones that have value are usually those that are historical as firsts and surely stand the test of time,” Dizon commented on why these NFTs are being sold for such high prices. “Beeple has been making Everydays for 13 years. It really has a good story behind the creative process and that artwork represented his life’s work for 13 years. Any piece of artwork, whether it’s worth a million dollars or a hundred, it’s only worth what someone is willing to pay for them,” he explained.

For Goltra and Dizon, introducing crypto art and collectibles in the Philippines is not about the money but more on adding a new way for Filipinos to appreciate digital art.

“It started with our desire to promote really good talents in the digital art scene from all over the world, particularly in the Philippines,” shared Dizon. “Through Narra Art Gallery, we are able to support the careers of artists that I have been following. When we bought plots of land in the 100xArt District, we decided that Narra Art Gallery will be a celebration of those artists we were supporting,” he continued.

Meanwhile, for Goltra, the relationships they’ve nurtured with the artists grew over time while he and Dizon have been doing crypto business for most of their adult life. “Crypto art is an extension of this, and it is created by people who are just ‘fresh blood’ in the scene. I could say that for me, it just came out naturally that we wanted to give these artists a space.”

Crypto art can be easily transferred online from one person to the next for a certain amount of cryptocurrency, enabling it to increase its value over time. One way to look at this trend is its great potential for wealth investment in the near future. But for the Narra Art Gallery co-founders, it is not here to replace traditional art nor pose as a better asset that would guarantee a higher return on investment.

“If that’s the only reason you’re doing it, you’re probably not going to have a fun time,” Goltra warned. “You need to get something else out of it. There is the spirit of community among digital artists that you should enjoy,” he said. “It’s a new medium of art that traditional collectors can explore in,” Dizon added.

What catapulted the crypto art industry to its rise today could be the shift of focus to arts and culture, according to Goltra. “We are in this interesting time where individuals have already made their fortune on Bitcoin and Ethereum, as well as other crypto assets, and now we come to a period where more people who want to be more deliberate about the cultural impact of our industry,” Goltra said.

“There’s always been a relationship between commerce and culture,” Dizon added. “If there’s a lot of money that’s been made in one industry, it usually supports some type of culture or art that represents that kind of era in time. It’s only natural that people who have made big money in cryptocurrency are also representing it by going into crypto art because it’s the representation of Internet history, of cryptocurrency as an industry as well.”

Digital art predates the prevalence of NFT in the crypto art community. With it now entering the Philippine market, there are only high hopes for it to flourish further. Dizon and Goltra acknowledged the rise of local talents who are minting their NFTs and most are off their radar. With this, one of the projects of the gallery is the firstmintfund.com wherein artists of any age and background, whether freelance or supported by a gallery, can be subsidised by Narra Art Gallery on their first minting of their works, which could be costly.

“We wanted to do that as a way for Southeast Asian artists to try their hand at crypto art but didn’t have the funds or the crypto to do so,” Dizon said. Artists interested in applying for this may submit their entries to the co-founders via the website and will be upon deliberation.

With the NFT 101 Showcase being one of the key portions of this year’s Art Fair Philippines, Dizon and Goltra are excited to take part, with the goal of spreading awareness in the art community of the existence of crypto art and NFT technologies. The co-founders will be hosting a series of panels and talks for audiences to understand it better and a highlight of crypto artists, not only from the Philippines but also around the world, using four floors of the Narra Art Gallery. The co-founders assured that this will not be the last of their projects this year to share the knowledge about crypto art.

“The Philippines has always had a tremendous number of artists but a lot of times, the art had been limited to commissions and client works,” Dizon said. “One of the things we’re seeing at crypto art is that artists are able to create art that they want to do in their own style and sell it in a global collector market depending on how the latter thinks it is worth. It represents freedom for a lot of artists because they are able to showcase their true skills without being dictated what to do.”

“A reason why crypto is so critical is because it is a technology that doesn’t care from where you are, who you are, and accessible globally,” Goltra said. “We are empowering artists to be professional artists. Crypto empowers people to take part in the global economy. We want to see more artists, either freelance or professional, or even a wannabe. Crypto is a levelling force with the best powerful means. We need to provide people access to this as we want Filipino artists to be the best not only in the Philippines but throughout the world.”

When talking about NFT coins to watch, it makes sense to look at the top NFT token in terms of market cap, so let’s do that. Axie Infinity (AXS) has grown exponentially over the course of 2021, going from being worth about Another thing to note is that the team behind Flow, Dapper Labs, were also the team responsible for CryptoKitties. This means that the network has some past history when it comes to NFTs, making FLOW an enticing cryptocurrency for fans of non fungible tokens. The crypto has done well this year, going from around $6.87 at the time of its January launch to stand at just over $12 on the afternoon 18 November..50 at the start of the year to being worth around $126 on the afternoon of 18 November. What’s the deal with AXS? Well, it is named after a game, made by Vietnamese studio Sky Mavis, which aims to teach people about the blockchain. Based on the Ethereum network, players get crypto rewards for playing the game, which was created by a group of people who met playing proto-NFT game CryptoKitties.

Further reading

A conceptualisation of NFTs

World Wrestling Entertainment (WWE) logo displayed on a smartphone

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