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  • you may have heard of a 12th video artwork that sold for $6.6 million in late February, or perhaps the video clip of a LeBron James slam dunk that a fan paid $208,000 to own.

  • These transactions are part of a new digital investment craze that has exploded over the past year.

  • But what makes these assets that exist solely on the Internet so valuable?

  • Mm hmm.

  • These digital assets are known as non fungible tokens, or N.

  • F.

  • T s.

  • Blockchain technology allows these items to be publicly authenticated, serving as a digital signature to certify who owns it and that it is an original work.

  • N F T s cannot be exchanged on a like for like basis, as each one is unique.

  • In contrast, a fungible assets like dollars, stocks or bars of gold.

  • Take it from art collector and investor Pablo Rodriguez, frail, who bought a 12th video clip by artist people in October and turned it around for $6.6 million at the end of February.

  • The same argument as you know you can go into into the loop and take a picture of the Mona Lisa and you can have it there.

  • But it doesn't have any value because it doesn't have the provenance of the history of the work again.

  • The reality here is that this is very, very valuable because who is behind the start of the rush has been linked to the launch of the NBA's Top Shot website, which allows users to buy and trade N F T s in the form of video clip highlights of games.

  • A user paid $208,000 to acquire a clip of LeBron James slam dunk.

  • It's been really cool because we've launched the public data in October, and already since then we process over almost 250 million transact a million dollars in transaction.

  • Some athletes are seizing on the opportunity.

  • Super Bowl winning tight end Rob Gronkowski is launching his own digital trading cards as N.

  • F.

  • T s in March, telling Reuters he expects millions.

  • This is a digital trading card that I am letting you know my fans be able to get a piece of the action and share these iconic Super Bowl moments with me in this all new digital format, examples of N F.

  • T s range from digital artworks and sports cards, two pieces of land in virtual environments.

  • And even as digital memorabilia, Twitter boss Jack Dorsey has just put up for sale the first tweet ever his own from 15 years ago, an early bid stood at $2.5 million.

  • Dorsey has said proceeds will go to a charity fighting extreme poverty.

  • Like many new niche investment areas, there is the risk of major losses if the hype dies down.

  • Open C A marketplace for N.

  • F.

  • T s saw monthly sales volume grow to $86.3 million in February, citing Blockchain data.

  • Just a year ago, sales were at 1.5 million.

  • For now, enthusiast and traders like N F T Investor need heart are caught up in the excitement.

  • The hype is extremely high right now.

  • I've used the analogy a couple times that, you know early N F T guys have kind of been presented with the same opportunity as maybe people who found Bitcoin early.

  • Nobody can predict the future, but the opportunity is huge.

you may have heard of a 12th video artwork that sold for $6.6 million in late February, or perhaps the video clip of a LeBron James slam dunk that a fan paid $208,000 to own.

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B1 digital video clip clip slam dunk dorsey blockchain

Explained: What are Non-fungible tokens or NFTs?

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    林宜悉 posted on 2021/03/11
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