{"id":271621,"date":"2021-06-10T20:16:10","date_gmt":"2021-06-10T17:16:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/first-ever-nft-sells-for-1-47-mn-at-auction\/"},"modified":"2021-06-10T20:16:10","modified_gmt":"2021-06-10T17:16:10","slug":"first-ever-nft-sells-for-1-47-mn-at-auction","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/first-ever-nft-sells-for-1-47-mn-at-auction\/","title":{"rendered":"#First-ever NFT sells for $1.47 mn at auction"},"content":{"rendered":"

“#First-ever NFT sells for $1.47 mn at auction<\/strong>”<\/p>\n

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\"&quot;Quantum&quot;
\n “Quantum” by artist Kevin McCoy is seen at Sotheby’s in New York.
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The first non-fungible token (NFT) ever created sold at auction on Thursday for $1.47 million, Sotheby’s said, the latest sale in the technological revolution sweeping the art market.<\/p>\n

The auction house also sold a pixelated digital figure known as a CryptoPunk for $11.7 million, making it the second most expensive NFT to date.<\/p>\n

“Quantum,” an octagon-shaped animation by New York artist Kevin McCoy, became the first work to be associated with an NFT-type certificate of ownership in May 2014, three years before the term NFT was coined.<\/p>\n

An NFT is a digital object such as a drawing, animation, piece of music, photo or video with a certificate of authenticity created by the blockchain technology<\/a> that underlies cryptocurrency. It cannot be forged or otherwise manipulated.<\/p>\n

NFT exchanges take place in cryptocurrencies such as bitcoin on specialist sites. Traditional auction houses are seeking to capitalize on the phenomenon.<\/p>\n

NFTs currently generate several hundred million dollars in transactions every month.<\/p>\n

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\"CryptoPunk
\n CryptoPunk 7523 at Sotheby’s in New York.
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CryptoPunk 7523, created by US company Larva Labs, is a pixelated face reminiscent of video game<\/a> characters from the 1980s.<\/p>\n

It becomes the second most expensive NFT ever, behind artist Beeple’s digital artwork “Everydays,” which Christie’s sold in March for $69.3 million.<\/p>\n

After a surge in NFT sales between January and April, average prices and the number of purchases have slowed, leading some experts to speculate that the bubble may soon end.\n <\/p>\n\n

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Sotheby’s sells first NFT that sparked a craze\n <\/p><\/div>\n

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\n \u00a9 2021 AFP<\/p>\n

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Citation<\/strong>:
\n First-ever NFT sells for $1.47 mn at auction (2021, June 10)
\n retrieved 10 June 2021
\n from https:\/\/techxplore.com\/news<\/a>\/2021-06-first-ever-nft-mn-auction.html<\/p>\n

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