Get us did the head with d. W. Business beyond who you hi is taking the art world by storm. Some individuals on now earning tens of millions for their digital works of art. All thanks to whats known as an f t s, none fungible tokens. But what exactly are they . N f t, a digital ownership documents. Its kind of like a container for a value on reflection. In recent is and if teas have become the new toys of mostly young art collectors. With bulging Crypto Wallets, we visited one of the worlds Biggest International art fez and spoke to some of the pioneers of n f t. Art. I think that everyone in the art world is going to be accepting critical currency very soon, and that is for the 1st time in history, artists are actually making money in this real and the actual world swimming in crypto cache. And if t artists are the new profiteers, obviously when you get something of this amount of value, its challenging to the existing balance structures because money is of representation of our prime, clarissa and god, who are the new war halls. The new bosky us will soon find out at home. It is a fairy tale. Well, too good to be true. A dangerous pyramid scheme or a sign of change with an impact that goes beyond object. So if you ask me why and if ts are important right now, why and if you are disciplinary now it is the genesis the beginning of a new civilization. Ah, welcome to the weird and Wonderful World of nf teeth, ah once a year, the u. S. Date of florida hosts a major International Art fair, wealthy collectors from all over the world come to the miami beach, offshoot of a swiss art fare to buy works and check out the latest trends. Sculptures and paintings take center stage of course, but this year theres something new vying for the visitors, attention, digital art sold with nf ts. The accompanying hype is generating plenty of interest and attracting a different kind of ground. Yeah, it is for a beautiful with vote for me, im running her tears of his i have this tattoo and if t is am, its a Digital Certificate of authenticity. Sits on a smart contract which piggybacks on in the fury crypto currency. But m f t m is all these people hear about a listening that care. This is a piece i made called crypto artists union. Imagine if andy warhol was alive today, he would have been the most proactive employer. This is a sculpture. A sculpture of andy warhol that originated through a computer file that i made an a video in an an animation, but its also an object. So digital art has many different lives. It can exist as a painting that can exist as a sculpture. As a photograph is a hologram, and if teas and Digital Technology is not tomorrow, its here. Its here today. Its in the fair like, snuck into the basel are fair. You could almost see like a divide. You see the traditional, our world and you see the digital world. Its a tool, its enabled artist to sell their work by themselves without relying on external gatekeepers, which has never existed in history before. This is breaking down the hierarchies of these galleries, creating opportunities for people, inspiring people, and telling people, instead of always saying you cant come to this gallery. You cant buy something, looking people up and down, and pigeon holing people, and categorizing people. This is the opposite of that. The visitors still finding their way in the well, the digital art, an installation by the block Chain SoftwareCompany Tells us, allows visitors to make their own and f t in a process called minting. They become part of an algorithmic image in a work by artist mario cleveland. The minted and f t is unsafe digitally in whats known as a Crypto Wallet to look like my mom, your i look like this makes them the owner of the image. One, they are free to settle trade. I think this is just like my mom. Oh my god. Now you had now meant it and ive seen this, youre personally. Yeah, youre gonna click on that and i will load in about 5 minutes. Ill go to matches by your personal and up to you that he just created, utilizing mario payments algorithm utilizing a digital artist once we on there. And why does it look like a small child, a history so . So its actually on when you stand there and scanned the q r code, ah, its his digital arts and hes a specialist in ai. So hes created an algorithm that it will use elements of you and it will incorporate elements of you within the piece. Okay . So if youre smiling, if youre moving, so thats just what it elicited with were the smaller. Okay, so you, i thought i points on your paper. How long are you there for . I dont know that im michael backed up selling me further along. We need dutch artist ralph now to from studio drift. His 1st n f t was sold even before the art fare opened and has already been taken down. I dont think many people can say that he still trying to get his head around whats happened as an a lash out philosophy. Rabun thats we just sold our work, our 1st and f t was a, is a collaboration between don diablo and drift. So were thrilled into classical blair, blaming the extra who bought the work. Yes, this is am light and our a collector who knows don and has bought his work before and after that he hadnt seen the work beforehand. I dont thats very typical for an f ts. He bought it for his Collection School for sampling easyvista. And if the year you can see the mentored and f t will stab estelle, so from marked i, our solar system made of block saba complex. He died from when we reduced the complexity of our solar system to a human scale that we can understand. And are we not as if it refers to the way people construct systems to understand and classify everything viper and diblasio is visible. So this is the meant at artwork that go, but the buyer also gets a physical piece and the takes him a fit called a vigil. The sheet out is a physical cube that emanates light eggs, or its placed in an augmented reality with a digital solar system of block forms revolving around it in book for how much does it go so that hell kick him over the place it display . Its so weird to talk about prices as an artist. Unity is not in the n f t community, its normal is i o everyones very open about it from like mine that never happened in the circles. I used to move in whether it was sold for 550000. 00 or anything over 500000. 00 goes directly to an organization in africa that aims to plant trees across the continent. This were a pace for 360 hector in africa method here. Now why was that important . T f t and f t harm the environment and it is. Thank again, its important to send a message and folks we can do something and return with the money we. Ernie. Shane millikan reached took dont react when you get a new phase of dollars at the lars. A co i prefer getting the ether ether. Oh definitely of course taylor i once on that thats the whole point of vision deacon, this is a disruptive, new technology breaks away from the old Financial System shayla. She stain door, blake, so it offers opportunities for restructuring. Thank a to him on being at the hash. I want to be part of that olivia 40. 00. Thats the old world phone star wheel. Mm. Mm. Senate dutchman dont. I dont know is one of the highest paid and its t artists on the candidate venue her. Im currently finishing a new and f t for the new. And if the im writing music for it together with drift, its an audio visual artwork or an image and sound, a field i class. On the break right now, im fine tuning the final details and sound effects slides. In the end, well have one not work about 2 minutes long, and you and s t 2 and ive worked on a new entity. Ah, it can, i can now create anything i want as visually as well as physically and audio wise. Also, i can build a whole new world on a corner, and then ill figure out how to present it visually on it. Its over a fee, so its not just a loop on a phone, but something you really feel as though estess where she thought it comes to the i can sell an empty digitally of some great migrate. Okay, good. But i also want to see it and feel it now sheet. So would have my cell a Digital Light work as an f t on the block chain. And then i put it on a cartridge that you can hold in your hand, go fast, our. It feels like an old school game, our game check. My, thats old school gaming. Cool. You plugged it into a drive here on the sides. I called and on before hers a what id like and then your digital file begins to show itself in the physical world for chic, available. Thats my 1st work that the one that gave me my breakthrough inventory walker. That is, and its an Infinity Loop that goes on forever over the rest of your life is open, like thats an important aspect of nf ts or the perfect loop. So you cant see where it begins. Whereas the for hug like i wanted my art to make a statement about the transient and disposable side of culture or especially music and images. Oh, that was the focus of my 2nd dennis tito, ville mac and fog within the state of it on the votes. Measure people watch things and listen to music for a few euros a month for streaming, watching, downloading, hottest to the value of creating b as is kind of gone this to via phone at care of when its activated. And for my receipts for, im always performing some way and they give the live stream away for free apps, verify the whole world watches what i do with that pain. I would like to start doing what if i turn it around, i making a one hour film that contains every creative idea. I want to share by all what would be the value of a film like that . Try to whatll divide it up with the moment that once youve established that value, people start thinking differently about over the medium or they have a greater appreciation of the work that ive otherwise always given a while for 3, i did moment bidick the highest. Im currently the highest averaging artist in the n f t space to commit laced on the average price of my work hopes of an ogre. Concerning the vehicles. My 1st work sold for about a 120. 00 theory, which was amazing those hill mobiles. I went to my moms for the auction logic now mom would have, she wasnt really paying attention because she didnt really understand it at that point for me. But i wanted to be in my moms house because thats where i 1st started writing music. And i wanted to come full circle in chic marker and full of my of full circle. And when the auction missouri is that the price was a 120. 00 ethan etha was abbreviated to a small in and my mother spoke the legendary was. Wow 120 euros left and she was so happy and so proud of me. You sold your 1st work for a 12120 euros a on the 10th. I said to her mom, mom anita, is worth about 2500. 00 at the moment in the old. He did the math in her head a 120 times, 2500 and quite a bit more than 120 years and full to me, its not like being respected as an artist the 1st time. It was a really special moment to share with my mother momento to kill if i will a day. And what i make is not just dispos my culture. Its odd that radical to this oak grist. Ah. Miami wants to become the crypto capital of the world. The mayor has asked to be paid in bitcoin, and he wants residents to be able to pay their local taxes with crypto currencies as well. A lot of the young crowd, the aunt fair acquired their wealth by playing the markets in bitcoin and other digital currencies. We speak to crypto investor an n f t artist christa kim. She calls herself a futurist but draws her inspiration from various genres of art history. I love rosco. Hes incredible artist that really sort of broke convention. She was a rebel and he was able to completely redefine beauty, redefined the standards of what art is. It could be anything, it could be a feeling doesnt have to be something literary. It could be non conformist, it could be more free. And then of course, this James Carroll was like a rock star to me, you know, using light light as a medium in itself. Truly an inspiration for me. I used to paint i entered a masters, a Fine Art Program and singapore. And it was then were i felt that it was redundant for me to pursue painting as a medium because i was so addicted to my phone. I thought, well, if im feeling it on an individual level than that means billions of people around the world are also feeling it. And then i started thinking while i need to create arch, that is some communicating to people through digital. So what i wanted to do is i wanted to create zen consciousness in the digital medium. So i could bring sand into the 21st century beyond through my work. So my work became healing mechanism for me. So when i create the work, it makes me feel good. We have a physiological response to the color and light of the screen. Right, so the screen i realised, can be repurposed and technology can be repurposed for well being. And for she, mandy, during the high did the cobra crisis, i was daydreaming about my dream home. I was like stuck in my condo in toronto. Every one was locked down globally. I think everyone can relate, that you start to imagine a better place to be. So i actually designed the mars house during that period. And then knowing that i can experienced this house in v r, that i can have people join me and experience it together. This was an exciting journey for me. It was, i bought my art on internet who is a very well known collector in the space and i she, she bought it for 512000. You us 288 over in march. And it was a record at the time. Every major news outlets picked up the story cuz people had to know, why are people paying more for digital house center than a real house . Mm hm. Like andy warhol. Yes, i dont. I dont any will on of course, you know, boss. Yeah. Best. Whereas i, some of any war someone is the one that i really liked the site Marilyn Monroe and them and he saw the one in the money are you here to buy . So if we see something we like most definitely im, im interested in a couple of different pieces. How about any fees . Im not very experienced on in at these im, im not a fan of video. Seems right when it is, this is the piece that i dont give. We could take if we could take a picture in bass. Um i understand if t theres like the authenticity factor thats associated with the co. But it doesnt mean that everyone else can have the same picture. How much, how valuable is it to me to say that i have the authentic piece to pay x amount for something that everyone else with that what you still have . Oh, were talking about lines. I just dial that we put on objects in general, right . Whether youre buying a louis baton, sir, or where are you buying a coat shirt or were you buying a Dollar General the hangs t shirt, right . Is the value that we say that its work thats worth of money really comes in from the authentication . No different day, like baseball cards and you know, memorabilia worst dislike you know . Okay, is this authentic barry bonds signature or is this something that someone just made and wrote, you know, and, and so when you get to the authentication, thats where everything changes is that the authenticity is written both a law. Hes checking quo this, see if this digital representation is the authors lawyers with somebody. Some aunt collectors have nagging questions about the digital proof of ownership. Not surprisingly, and if tease of the hottest topic at the fair loose directly, i think isnt a culture. And technology is probably a good stage where the internet was in 95. And in 95 there was no google, not amazon, no smartphone. And it was a time of extreme experimentation. And i feel the spirit is in the end, no one does not, not a standard way to deal with it. You know, they up un, if hes there. And if hes who have also physical address connected to them in dutch digital artist and f t. Pioneer hom brendan developer is asked to explain this brave new well to arent fair guests. I was really surprised because i had been a distorted for school for quite a while and hadnt really been successful in making money with that. And then basically this year we woke up one day and look on the internet and is like, oh, the whole world gets it now. And, and this was actually really annoying because i was like, why didnt you get it earlier . And also, why are these incredibly ugly and of teas being sold for so much money thanks to his background and i t hum understands the technology behind. And if tease better than most or theres a lot of new, its all very new. Im looking for getting things often dont work properly when were gonna fill out. It Needs Development to make it more accessible or a wide audience. It allowed to put out on this or the whole thing. Still very risky on the if you lose the key to your wallet, then when you lose your money felt home, theres no bank you can call for help or if to fix it, i come, i love. Bah, the composer and when i listen to him last, i sometimes burst into tears with its so beautiful. Its an abstract beauty and hide it. Been. Im an artist good. Ive always made digital art and it was always hard to sell dollars underneath difficult. It was unclear what people were buying because digital art can be copied only to dish eloquent. Theres no original dont computer, which then in the year 2015, i learned about block chain technology. When we get out arguments, looked into looky the anesthesia, the nf keys i made use the internal logic of the block chain itself as a kind of input for a visual program that generates an image. My in built in a 2 dimensional layered and colored composition cleared quite modernist, artificial. Im a typical dutch artist, minute diction, aiden should consume what doth was all dead morlock on the digital art was never appreciated. At the same level as painting or sculpture on the door, thats because peoples desire to possess an object is inextricably linked to its the scarcity oak with sparse at the markham and dark or gandhi good. So digital art has never had an especially good reputation had hurled it for how formed the goods was heathen, is what it was high in all. Modesty licked off of my dishes. I think my digital art could also be interesting in relation to all images made before me a little martin. Oh, oh. Oh, cup i do see fl, marked once present. I made an addition of 512 tokens annually. It was dropped in july, which means that he can buy it online and i sold out in 2 and a half hours. Which was weird because there was no preview or official openings about it was just me and my student aliens to jojo and of and the money started pouring in thing to like a jack hyde. In a it was surreal. Ulysses though though the whole and f t hi were experiencing now confirms to me that in hindsight with all the, all those years of being a nerd, were pretty cool with noonish, cooler so. So newton in the financial heart of miami christies. Auction house is organized an exhibition of n f ts artist christa kim is accompanied by veritas, kemi, he buys nf ts for th