Binance, the world’s largest cryptocurrency exchange, is launching an NFT marketplace

Nonfungible tokens are a type of digital asset designed to represent ownership of rare virtual items

Cryptocurrency exchange Binance revealed plans on Tuesday to introduce its own marketplace where users can create, buy and sell digital collector’s items known as NFTs.

Nonfungible tokens are a type of digital asset. They’re designed to represent ownership of rare virtual items — that could be anything from works of art to sports trading cards like those sold on the popular online basketball collectibles platform NBA Top Shot.

Total sales of these tokens soared to more than $2 billion in the first quarter, according to NonFungible.com, a website that tracks data on NFTs. And that figure doesn’t even account for the record-breaking $69 million NFT sold by digital artist Mike Winkelmann (AKA Beeple) at Christie’s in March.

https://www.cnbc.com/

A digital art just sold for nearly $70 million

NFT piece becomes first sold by major auction house

An artist has netted $US70 million ($90 million) from the landmark sale of a digital artwork that does not exist in physical form. In the first such sale by a major auction house, Christie’s sold the piece titled, Everydays — The First 5000 Days, by American artist Mike Winkelmann, known as Beeple, for $US69.4 million. It is a collage of 5,000 individual images, which were made one-per-day over more than 13 years.

The sale of the work has put Beeple in the top three most valuable living artists, Christie’s said in a tweet. The work is in the form of a new type of digital asset — a Non-Fungible Token (NFT) — meaning it is authenticated by blockchain, which certifies its originality and ownership.

https://www.abc.net.au/

NFT art: the bizarre world where burning a Banksy can make it more valuable

The blockchain art

A blockchain company has bought a piece of Banksy artwork and burnt it. But instead of destroying the value of the art, they claim to have made it more valuable, because it was sold as a piece of blockchain art.

The company behind the stunt, called Injective Protocol, bought the screen print from a New York gallery. They then live-streamed its burning on the Twitter account BurntBanksy.

But why would anyone buy a piece of art just to burn it? Understanding the answer requires us to delve into the tricky world of blockchain or “NFT” art.

It blends the niche subculture of cryptocurrencies with long running philosophical questions about the nature of art. No wonder people have difficulty explaining it all.

https://theconversation.com/

Billionaire bitcoin advocate Jack Dorsey is auctioning the very first tweet in history as an NFT

What is an NFT?

Twitter CEO Jack Dorsey is offering to sell his very first tweet by auctioning it as a special digital asset class known as a non-fungible token.

Dorsey shared a link Friday afternoon to a website called Valuables, which allows selling tweets as NFTs. The billionaire listed his very first tweet “just setting up my twttr” for bids even though it exists on Twitter and is free to view.

As a long-time cryptocurrency advocate, jumping into the NFT craze is not a surprising move by Dorsey.  Crypto boss Justin Sun upped his bid twice, ultimately offering $2 million for Dorsey’s tweet. But the highest bid for the piece of Twitter history is from Sina Estavi, CEO of the Bridge Oracle platform, according to the Valuable’s website.

https://markets.businessinsider.com/