(Newser)
– The blockchain technology behind Bitcoin and other digital currencies is shaking the art world and financial markets. Sales of “non-consumable tokens” —works or other pieces of digital property authenticated as unique blockchain originals — are exploding, with a 10-second artwork by artist Beeple recently sold for a record high. $ 6.6 million, Reuters reports. The video, which shows people walking through what appears to be the graffiti-covered body of a huge Donald Trump, was bought by art collector Pablo Rodriguez-Fraile in October for $ 67,000. He resold it last week almost 100 times more. The 32-year-old tells Bloomberg that he thought it would take longer to increase its value, but that it was still “a fantastic deal for the buyer.”
“You can go to the Louvre and take a picture of the Mona Lisa and you can have it there, but it has no value because it has no origin or history of the work,” explains the Miami company. it is very, very valuable to those behind it. ” Bloomberg notes that the digital art boom has a precedent in the photography market. Beeple, really Mike Winkelmann, is a digital artist. who has been creating a drawing a day for 13 years. Last week he began an auction of his work at Christie’s. New York News who only began studying NFTs in mid-October. As with many other NFTs, the blockchain that authenticates your work also includes the requirement that you get 10% of the price each time it is resold. “When you buy the artwork, you have a kind of relationship with me,” he says. (Read more blockchain stories.)