Every second of the original video cost the new owner $660,000. At the same time, the price of the work was not affected by exclusivity: anyone can watch the video on YouTube without paying a penny.
We are talking about the work of a digital artist under the nickname BEEPLE. The video shows the figure of former US President Donald Trump lying in the background, covered with various slogans and people passing by. The 10-second artwork was authenticated by the blockchain, which serves as a digital signature to confirm the identity of the owner and indicates the authenticity of the original.
Such videos are a new type of digital asset known as a non-exchangeable token (NFT). Blockchain technology allows you to publicly authenticate items as one-of-a-kind. The popularity of this kind of art has skyrocketed during the pandemic — enthusiasts and investors are trying to spend huge amounts of money on items that only exist online.
In total, over the past five months, up to one hundred thousand customers have used the services of OpenSea, a trading platform for NFT, and the total sales amount was about $250 million.
GIPHY App Key not set. Please check settings