There are already enough signs to say that the crypto art market will pretty soon be shaped just like the traditional contemporary market. Earlier this month, Christie’s auction house announced the sale of a digital portrait of the Bitcoin code for more than $130,000 when the first estimated price was $12,000–$18,000. It was the first…
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NFTs have been gaining traction in the background, but where is the industry headed? Decentralized finance has become the center of attention throughout most of 2020, sparking talk of a renewed alt season, with many believing that mass adoption of DeFi will be coming within the next three to 10 years. Nevertheless, other sectors in…
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Historically, digital art has been almost impossible to monetize. Blockchain technology can solve that problem. On Sept. 23, auction-house giant Christie’s announced plans to sell its first nonfungible token, or NFT, at an auction. This was just one week after the record-setting $100,000 sale at auction of a digital art piece that also used a…
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Anthony Pompliano sees the digital art market cap eventually passing $65 billion. Major players in the crypto community are betting big on digital art NFTs surpassing the physical art market. According to a Sept. 21 tweet from Messari analyst Mason Nystrom, sales of non-fungible token (NFT) marketplace Rarible passed $5 million in September, with a…
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Many artists work their entire lives and never see their work sold for this kind of price tag. “Right Place & Right Time,” a digital art piece based on Bitcoin’s (BTC) fluctuating price action, has sold for more than $100,000. “The Master NFT of Right Place & Right Time was sold to TokenAngels for $101,593.…
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Celebrity Ashton Kutcher has digitized and incarcerated a drawing that will be auctioned on NFT marketplace Cryptograph to support ecological charities. An ‘artwork’ doodled by famed That 70s Show star Ashton Kutcher has been digitized and will be auctioned on the new non-fungible token (NFT) and digital art marketplace Cryptograph. The auction will raise funds…
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With Nifty Gateway recently auctioning a digital artwork and NFT for a record $55,555.55, the art world is on alert. Nifty Gateway, a leading marketplace for nonfungible tokens with the backing of the Winklevoss brothers, recorded its largest-valued auction to-date on July 23 when the digital artwork and NFT “Picasso’s Bull” sold for $55,555.55. The…
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Trevor Jones, the artist who composed Picasso’s Bull — an NFT that sold for a record $55,555 on NIfty — originally thought that NFTs were destined to fail. The Winklevoss-backed marketplace for non-fungible tokens (NFTs) and digital art Nifty Gateway recorded its largest-valued NFT transaction to-date during an auction two weeks ago. On July 23,…
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The survey revealed that 65% of eMusic customers would use cryptocurrency to allow artists to receive a larger music revenue split. A survey conducted by pioneering digital music store eMusic revealed that most of their service’s users were open to paying with crypto if it allowed artists to earn more. The survey — shared exclusively…
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Venture capitalist and Bitcoin investor Tim Draper believes that blockchain technology is driving much-needed disruption in the art industry. Famed Silicon Valley and crypto investor Tim Draper believes that distributed ledger technology is transforming the art industry. Speaking to Cointelegraph, Draper emphasized the benefits that many of the core utilities of DLT offer to the…
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