Sunday , April 11 2021

The 10-second video sells for $ 6.6 million – miscellaneous

Pablo Rodriguez Freire sold ten seconds of video for $ 6.6 million he bought in October last year for nearly $ 67,000 that he could watch for free online.

The video by digital artist Beeple, whose real name is Mike Winkelmann, is certified by blockchain technology and serves as a digital signature proving who the owner is and that it is the original work.

This new type of digital asset is known to be immutable in NFT, which spread widely during the Corona pandemic as enthusiasts and investors struggle to spend huge sums of money on items that are only online, according to Al Arabiya Net.

Blockchain technology allows public authentication of objects as unique, unlike traditional network objects that can be reproduced indefinitely.
“You can go to the Louvre and photograph the Mona Lisa and you can get it there, but it has no value because it doesn’t contain the origin or history of the work,” Freire said.

The word invariably refers to items that cannot be exchanged on the basis of the same, because each element is unique, unlike exchangeable assets, such as: dollars, stocks or gold bars.

Examples of immutable code range from digital works of art and sports maps to plots of land in virtual environments or the exclusive use of cryptocurrency wallet names, much like the scam for domain names in the early days of the internet.

The computer-generated video, which Freire sold, shows how the giant “Donald Trump” seems to have fallen to the ground and his body covered in slogans.
Fixed OpenSea token trading said its monthly turnover has so far risen to $ 86.3 million in February from $ 8 million in January, and monthly sales reached 1.5 million a year ago.

Alex Atallah, co-founder of OpenSea, said: If you spend 10 hours a day on a computer or eight hours a day in the digital realm, art in the digital world makes a lot of sense because it’s the world.

However, investors warn that while huge money is pouring into an unchanging symbol, the market could represent a price bubble.

However, auction house Christie has launched its first digital art sale, a collection of 5,000 Beeple photographs, totaling $ 3 million, and the sale is scheduled to close on March 11th.

And in a decision that could help suppress cryptocurrencies, the auction house, founded in 1766, accepts payments in the digital currency Ethereum in addition to traditional cash.


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