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Platon: To create a new digital civilization by Protecting CryptoArts Back to video
Recently, a NFT painting of digital artist Beeple was sold for $69.34 million, setting a record price for cryptoart. Earlier, Dorsey, the CEO of twitter, transferred his first tweet as a NFT, with the price of about $2.9 million. The birth of these high-priced works of art has pushed the cryptoart into the artistic field，which has been changing people’s traditional cognition and empirical judgement of art. So what is NFT? Is NFT valuable?
NFT (non-homogeneous token) is also a kind of cryptocurrency asset, which relying on the blockchain network behind it. The holding information of these assets can be recorded in the blockchain. Different from bitcoin and Ethereum, each NFT is unique, so it is not for exchange, like basic commodity purchase or other basic transactions money. However, because of that NFT assets can’t be copied, works of art or collections can be transferred on the blockchain network as the unique cryptocurrency asset. For example, if you successfully register as a password artist on the NFT trading platform, your uploaded works of art can also become a NFT asset. The process of becoming a NFT can be regarded as “coinage”, and then by aggregating into blocks to become the unique token asset on the blockchain.