NFTs were pretty cool, but Elon Musk killed them

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NFTs were pretty cool, but Elon Musk killed them


You’ve probably heard of the new art craze sweeping the world that involves collectors buying expensive digital art called “NFT”.
Well, forget them, because Elon Musk made the concept really uncool after delivering a weird NFT meta song on NFTs.

NFT, which stands for ‘non-fungible token,’ is at its most basic level, a digital work of art with an identification tag tied to a blockchain. While digital art can be copied and shared quite easily online, only the original is of value.

Think of an NFT like a limited edition hockey card; there can be a lot like it, but only verified limited cards are worth the money.

If you think that sounds a little silly, you’re probably at least a little right, but on the other hand, it’s still a way for people to help artists financially.

Since the NFT boom began, there have been several exciting developments in space. For example, Canadian popstar Grimes made US $ 6 million (approx. C $ 7.5 million) on her art, and artist Beeple made US $ 69 million (approx. C $ 86 million) on her art. ‘a real auction for his digital work.

Then, just when we thought the NFT-related news had peaked, Elon stepped out of the shadows with his to joke NFT song on an NFT.

After about a day, offers for Musk’s NFT reached over US $ 1 million (about C $ 1.2 million), according to MarketWatch. The digital art even comes with metadata from the original tweet, including “when the tweet was posted, what is the content of the tweet text, the tweet’s timestamp, and the digital signature of the crypto wallet address of the tweet. Creator. ”

If that doesn’t make you want to own this piece of digital art history, I don’t know what will.

The MarketWatch The report also states that Jack Dorsey is selling an NFT of his first tweet and that the auction has reached US $ 2.5 million (approximately C $ 3.1 million).

Source: MarketWatch

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