News from the NFT art world, investments and certifications
What would Michelangelo think when he saw in his piece of marble the artwork already sculpted ready to be freed if we told him that today there are non-fungible artworks? Non-fungible or non-tangible e considered unique. He would surely like to understand more but he would realize and would be happy to be born in the right century! The technological innovation of the century that is increasingly gaining ground in the recent years is the Blockchain known by all as the technology powered by crypto assets. Not fungible
token, abbreviated with NFT, or digital certificates owned by an artwork registered on a network called Blockchain. The pandemic has not stopped the development of this technology, on the opposite it has increased its spread, in fact, already from 2020 only in the first half of the year, NFT sales were collected for 13.7 million dollars, in the same period of the following year 2.5 billion. In 2020 with decentralized finance operations, users and invested capital have multiplied. We can talk about the artwork of Beeple entitled “The first 5000 days” sold in NFT for a value of 69.3 million dollars, of all this new reality, however, art is only a quarter of the entire market.
If we think of the flying kitten GIF from Torres who thought of turning this meme into NFT and making $ 561,000 worth out of it. Thanks to versatility of NFTs, one of their great strength, we can market works of art, stickers, collections, videos of particular moments such as goals or baskets in the NBE. Skeptics and many critics speak of NFT as a phenomenon that will disappear from one moment to another, like a momentary bubble but the numbers say exactly the opposite, transactions are continuously growing. With NFTs it will be possible to authenticate artworks and trace their entire history at any time, all the steps taken by an owner to another without the possibility of falsification or copies. That’s right, anyone in possession of an artwork might think of creating his NFT and therefore a unique certification of ownership that will be his only and will certify it its traceability forever despite the fact that the work can be sold or transferred to other owners.
This revolution is very important to understand all the transfers of the artworks and avoid fakes and theirs dissemination ensuring the authenticity and historicity of the work without any loss of data.
As I said before, art is only the 25 percent of the whole NFT digital world, for example the first Tweet by Twitter founder Jack Dorsey, which he himself put up for auction grossed $ 2.9 million or the digital version of a New York Times article for $ 560,000. NFT can be created and purchased
with videos or clips of goals regarding football or basketball actions that have brought to the most beautiful baskets in history. According to information received from the PwC, the Blockchain world
will be able to raise global GDP by $ 1.76 billion within 2030. It is up to us to know how to seize the opportunity!