Tag: NFT

NFT

Rare CryptoPunk NFTs Fetch Almost $17M at Christie’s Auction

Rare CryptoPunk NFTs Fetch Almost $17M at Christie’s Auction

Nine rare non-fungible token (NFT) digital collectibles known as CryptoPunks have sold for almost $17 million at physical auction house Christie’s, according to a Twitter announcement on Wednesday.

All nine CryptoPunks are among the first 1,000 minted in the early days of creator Larva Labs and fetched a total of $16,962,500.
The NFTs, taken from Larva Labs’ own collection, were part of the “21st Century Evening Sale” at Christie’s, the 255-year-old, U.K.-based auction house.

NFTs are blockchain-based tokens incorporating various attributes representing artwork or assets in the digital domain and can be used to verify proof of ownership.
In March, Christie’s sold an NFT representing digital artist Beeple’s work for a record $69 million.
The CryptoPunks sale highlights the continuing demand for digital art validated by blockchain technology.
On Wednesday, eCommerce company eBay announced it would allow the sale of NFTs on its platform including trading cards, images and video clips.

NFT

Lympo to launch LMT utility token for sports NFT collectibles on the Binance Smart Chain

Lympo to launch LMT utility token for sports NFT collectibles on the Binance Smart Chain

Animoca Brands Corporation Limited (“Animoca Brands”) is pleased to advise that its subsidiary Lympo will launch LMT, a new utility token to empower Lympo’s ecosystem of sports-related non-fungible tokens (NFTs), including collectibles based on world-famous athletes. Lympo will launch the new token and associated NFTs on the Binance Smart Chain (BSC) to enable fast and cheap transactions for holders of LMT tokens and NFTs.

The Lympo NFT ecosystem will be developed in two stages. In the first digital collectibles stage, various NFTs of world-famous athletes, clubs, influencers, and enthusiasts will be issued according to a set plan defining the supply of various levels of NFTs ranging from more common to extra rare cards. In the second content and media development stage, various activities will be launched including games using LMT as the main utility token and in-game currency. These games will implement a Play-to-Earn model. Players will be able to utilize their Lympo digital sports collectible cards to create and upgrade their sports hero characters, and then form teams, play against other players, and win tournaments, earning rewards with real-world value. More detailed information on the ecosystem and the LMT token will be provided in the upcoming light paper.

The new LMT token will give its holders access to NFTs in various staking pools and will be offered starting Friday, 19 March 2021. The only way to obtain LMT tokens during the offering is to exchange them for the existing LYM tokens. The LMT/LYM token exchange will take place at a predefined rate to be announced soon.

At the later stage, the LMT token will become the currency of the sports-related NFT ecosystem giving access to various media and content activities to its holders. Initially launching on Ethereum, this NFT ecosystem will be later bridged to the Binance Smart Chain.

Binance Smart Chain, enables the creation of smart contracts for tokens while being compatible with the Ethereum blockchain. It promises cheap transactions as low as 1 cent and a high-performance network capable of producing a block every 3 seconds. For NFT and LMT token holders, this means that minting, transferring and trading NFTs will be much cheaper and faster than the usual options available.

About Lympo

Lympo is building a sports NFTs ecosystem including NFTs with IP rights of world-famous athletes and clubs. The ecosystem will also include custom sports characters created by various artists and sports influencers. Lympo was launched in 2018 together with its token LYM, traded on various exchanges as a token to incentivise healthy lifestyle. Learn more at www.lympo.com or get updates on Twitter or Telegram.

Source – cryptonews 

NFTs are now turning digital art, tweets and memes into million-dollar assets

NFTs are now turning digital art, tweets and memes into million-dollar assets

Artist Ryan Maloney had planned a conventional launch for his latest project, a series of collector cards called Beastly Ballers that feature cartoon creatures decked out in football gear. The New Canaan, Connecticut-based illustrator was going to use a Chinese printer to package the cards; then he’d market them online and sell them at $4.99 for a pack of 10.

Instead, Maloney skipped the physical product all together. He listed the card images on the online marketplace OpenSea as NFTs, or nonfungible tokens, the digital assets that are upending the art world. Maloney had followed the rise of the technology and decided to give it a try.

He began to rack up bids after a day or two. One card, with a drawing of a yeti named Yeta wearing a helmet and pads, sold for $85. In all, he’s tallied more than $700 in sales on 14 cards. For a working artist, it’s a meaningful haul, and more than he would’ve made going the traditional route.

“Artists are always looking for ways to make money off of their work,” Maloney says. “Once the word got out on crypto art, the gold rush really began.”

The gold rush for NFTs — essentially cryptological certificates of authenticity — is well underway. On Thursday, Christie’s, the 255-year-old British auction house, will close the sale of its first-ever digital-only art piece, a composite of 5,000 pieces created over as many days by the artist Beeple. The final price tag is sure to be eye-popping: As of this writing, bidding stands at more than $13 million. As Maloney’s story highlights, however, the implications of NFTs ripple far beyond the multimillion-dollar hammer prices set at fancy auction houses.

NFTs bring to digital art a one-of-a-kind or limited-edition quality that’s been lost in the copy-paste, post-repost world of the internet. Each work of art is associated with a proof of ownership that’s recorded on a blockchain, the distributed ledgers most commonly associated with Bitcoin and other cryptocurrencies. The authentications, which can be applied to images, videos, music and other digital files, designate the original. Copies and copies of copies might abound on the web. But only one person can lay claim to the NFT behind it.

“Once the word got out on crypto art, the gold rush really began.”
Ryan Maloney, artist
The technology is beginning to touch every corner of art, entertainment and media. In sports, a clip of Lebron James ruining a fast break sold for $100,000 on Top Shot, the NBA’s marketplace for highlight reels. In music, Kings of Leon last week became the first band to announce the release of an NFT album, with three types of tokens that include special artwork and perks. The pop star Shawn Mendez last month announced a line of digital goods in the form of NFTs. In the media world, the Associated Press is auctioning off an NFT electoral map of the 2020 US presidential contest, which uses data that was published on the blockchain. Twitter CEO Jack Dorsey is even selling the first tweet on the platform as an NFT.

Proponents say NFTs have the potential to revolutionize the way artists at every level can sell and distribute their work. In turn, NFTs could change the way people interact with and consume art in the digital era.

The potential is huge, says Joe Saavedra, CEO of Infinite Objects, a company that makes frames for looping videos and other digital art so that the works can be displayed in homes and museums. His company collaborated with Beeple on an earlier NFT release, offering what he calls a “physical twin” frame to display the NFT, with a QR code on the frame that links to the token.

“Across the board, everyone is going to have to reckon with how to navigate this space,” he says. “Art is the tip of the iceberg.”

‘A connection’
NFTs are powerful because they tackle deeply rooted issues in the digital realm: ownership and compensation.

The internet grew into the place we know now because data could be easily replicated and user-generated content proliferated on the web. YouTubers and TikTok users have amassed huge followings by giving away content, which is sometimes professionally produced and expensive to make. Napster brought the music industry to its knees because it obliterated the business model when artists and labels never expected it. Facebook rants come free of charge, whether you like them or not.

Sure, you can support online creators by donating to their Patreon accounts. But NFTs provide another avenue of connection between creator and fan. “NFTs give digital artists the agency to sell their work with the assurance of authenticity and rarity,” says Meghan Doyle, a specialist in the postwar and contemporary department at Christie’s. “They are creating a new way forward.”

Source – CNet