Russia’s Hermitage to Sell Digital Copies of Art as NFTs

The museum will sell digital copies of works by da Vinci, Giorgione, Kandinsky, van Gogh and Monet on Binance NFT

The Hermitage Museum in St. Petersburg, Russia, which houses one of the world’s major art collections, will auction virtual copies of five of its most famous masterpieces in August on the Binance NFT marketplace, the museum said in a press release. The museum will sell digital copies of “Madonna Litta” by Leonardo da Vinci, “Judith” by Giorgione, “Lilac Bush” by Vincent Van Gogh, “Composition VI” by Wassily Kandinsky and “Corner of the Garden at Montgeron” by Claude Monet. It didn’t specify the exact date of the sale.

The initiative with non-fungible tokens (NFTs) will help the museum “provide better availability of the Hermitage’s collection” and demonstrate “the importance of the digitalization in art collecting,” the announcement said.  Each NFT will be issued in two copies, one held by the Hermitage itself and the other going to the buyer. The metadata of the NFTs will include Hermitage director Mikhail Piotrovsky’s signature, the time of the signing and certification that it was signed in the Hermitage.

https://www.coindesk.com/

Alibaba launches NFT marketplace for copyright trading

Alibaba has launched a new marketplace allowing trademark holders to sell NFTs representing licenses to their copyright

Chinese multinational e-commerce firm Alibaba Group Holding has launched a new nonfungible token (NFT) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property.

The new NFT marketplace, dubbed “Blockchain Digital Copyright and Asset-Trade,” can be accessed via Alibaba’s Auction platform. NFTs launched via the platform will be issued on the “New Copyright Blockchain” — a distributed ledger technology platform centrally operated by the Sichuan Blockchain Association Copyright Committee.

According to a Tuesday report from Alibaba-owned news publication South China Morning Post (SCMP), the marketplace hopes to target writers, musicians, artists and game developers.

The marketplace is already live, hosting several NFTs that are set to be auctioned next month. Bidders must post a deposit of 500 yuan (roughly $77) to participate in auctions. Each upcoming auction has set a reserve price of $15 each.

https://cointelegraph.com/

Celebrities jumped into the market for non-fungible tokens (NFT)

Digital collectibles are booming

Alongside an impressive $2.5 billion in sales volume in the first half of 2021, a slew of celebrities, from pop star Katy Perry to rapper Jay-Z, as well institutions such as the NBA and Louis Vuitton, have jumped into the market for non-fungible tokens.

While NFTs are undoubtedly experiencing exponential growth, the industry is still very early on in the adoption curve and is yet to break into the mainstream, said Cameron Chell, founder and chair of CurrencyWorks, a blockchain firm.

“Collecting is part of the human psyche,” Chell said. “With the advent of blockchain and the use of NFTs to create digital assets that are truly scarce, the inherit behavior of collecting things that we identify with can now happen.”

https://www.businessinsider.fr

The web’s source code is being auctioned as an NFT by inventor Tim Berners-Lee

NFT (Non Fungible Token) is a type of digital asset designed to show that someone has ownership of a unique virtual item

British computer scientist and inventor Tim Berners-Lee is auctioning the original code for the World Wide Web as a nonfungible token.The auction for the World Wide Web NFT — titled “This Changed Everything” — will be run by Sotheby’s in London from June 23-30, with bidding starting at $1,000. The proceeds of the auction will benefit initiatives that Berners-Lee and his wife support, Sotheby’s said.

NFTs are a type of digital asset designed to show that someone has ownership of a unique virtual item, such as online pictures and videos, or even sports trading cards.

The NFT includes original time-stamped files containing the source code written by Berners-Lee, an animated visualization of the code, a letter written by Berners-Lee on the code and its creation, and a digital “poster” of the full code. They will all be digitally signed by Berners-Lee. It will be the first time Berners-Lee has been able to capitalize financially on what is widely viewed as one of the greatest inventions of our time.

https://www.cnbc.com/

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/