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$69 million for a digital work of art? Welcome to the world of NFTs

$69 million for a digital work of art? Welcome to the world of NFTs
usatoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usatoday.com Daily Mail and Mail on Sunday newspapers.

London , City-of , United-kingdom , United-states , Sotheby-sothebys , Merav-ozair , Mike-winkelmann , Sotheby-europe , Justin-sun , Kobe-bryant , Oliver-barker , Lebron-james

Carbon Offsets for NFTs Don't Address the Deeper Problem

Carbon Offsets for NFTs Don't Address the Deeper Problem
The NFT space has a ballooning carbon problem. But rather than address emissions head-on, platforms may be turning to at best, self-deception and at worst, greenwashing by relying on carbon offsets.
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Over the weekend, the platform Nifty Gateway ran an auction dubbed the #CarbonDrop that was, it said, “inspired around climate change.” The auction included a Beeple piece that went for $6 million along with a host of other artists whose work sold for an additional $600,000. The proceeds benefited the Open Earth Foundation, a nonprofit focused on using the blockchain for climate accountability and tracking emissions. To deal with the estimated 500 tons of emissions associated with the auction, the artists were all given carbon offsets. The problem with these offsets is that they don’t actually reduce emissions, they just—as the name says—offset them through activities like planting trees.

Oregon , United-states , Brazil , Tyler-winklevoss , Twitter , Earth-foundation , Carbon-offsets , Dont-address , Deeper-problem , Nifty-gateway , Open-earth-foundation , Carbon-drop

Love it or hate it? Artists on the crypto-art craze

Credit: Courtesy of SuperRare
Nate Mohler’s “Grunge City,” 2021, 57 seconds. Edition of 1. Part of the “Painted Cities” series. Mohler, a UCLA design media arts alumnus, has released 12 artworks as NFTs, and nine have sold.
The challenge that digital artists, curators and collectors have faced for decades has been how to sell artwork that is by nature infinitely reproducible. Unlike a painting or sculpture, digital artworks can be reduced to a series of 0s and 1s, or an algorithm that can easily be copied.
Non-fungible tokens, or NFTs, offer a technological solution. They work as public ledgers, using blockchain technology to track digital transactions. When a collector buys an NFT, they’re essentially acquiring a tamper-proof digital receipt. That also allows the artist to retain a percentage of the revenue each time their work is sold.

Hollywood , California , United-states , School-of-the-arts , Refik-anadol , Nate-mohler , Rebecca-allen , Mike-winkelmann , Adam-ferriss , Paris-hilton , Yale-university , Anadol

Crypto Art the Climate Killer | Shift - Living in the Digital Age | DW

Crypto Art the Climate Killer
NFTs are used to trade digital art on the blockchain. The problem is that each transaction consumes an enormous amount of energy. Some say crypto art’s carbon footprint makes it unsustainable.
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Crypto-art , Internet , Nft , Crypto-currency , Block-chain , Environment , Eco-footprint , Carbon-footprint , Memo-akten , Carbon-drop , கிரிப்டோ-கலை

For digital artists, NFTs are promising – and problematic

UCLA design media arts faculty and alumni share their thoughts on the crypto-art craze
Courtesy of SuperRare
Nate Mohler’s “Grunge City,” 2021, 57 seconds. Edition of 1. Part of the “Painted Cities” series. Mohler, a UCLA design media arts alumnus, has released 12 artworks as NFTs, and nine have sold.
Avishay Artsy |
April 22, 2021
The challenge that digital artists, curators and collectors have faced for decades has been how to sell artwork that is by nature infinitely reproducible. Unlike a painting or sculpture, digital artworks can be reduced to a series of 0s and 1s, or an algorithm that can easily be copied.
Non-fungible tokens, or NFTs, offer a technological solution. They work as public ledgers, using blockchain technology to track digital transactions. When a collector buys an NFT, they’re essentially acquiring a tamper-proof digital receipt. That also allows the artist to retain a percentage of the revenue each time their work is sold.

Hollywood , California , United-states , School-of-the-arts , Nate-mohler , Rebecca-allen , Refik-anadol , Mike-winkelmann , Adam-ferriss , Paris-hilton , Yale-university , Anadol

NFT Marketplace Nifty Gateway Plans to Go Carbon Neutral

NFT Marketplace Nifty Gateway Plans to Go Carbon Neutral
decrypt.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from decrypt.co Daily Mail and Mail on Sunday newspapers.

Aphex-twin , Nifty-gateway , Griffin-cock-foster , Memo-akten , Rico-nasty , Carbon-drop , நிஃப்டி-நுழைவாயில் , கிரிஃபின்-சேவல்-வளர்ப்பு , ரிக்கோ-மோசமான , கார்பன்-கைவிட ,

Carbon Offsets for NFTs Don't Address the Deeper Problem

Carbon Offsets for NFTs Don't Address the Deeper Problem
gizmodo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gizmodo.com Daily Mail and Mail on Sunday newspapers.

Oregon , United-states , Brazil , Tyler-winklevoss , Twitter , Earth-foundation , Carbon-offsets , Dont-address , Deeper-problem , Nifty-gateway , Open-earth-foundation , Carbon-drop

Beeple's latest crypto art just sold for $6 million to the same tech executive who was outbid at the last minute for the record-breaking $69 million auction

Beeple's latest crypto art just sold for $6 million to the same tech executive who was outbid at the last minute for the record-breaking $69 million auction
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.

Paris , France-general- , France , Mike-winkelmann , Christina-figueres , Justin-sun , Calvin-harris , Christiana-figueres-cfigueres , Steve-aoki , Twitter , Alpha-foundation , Earth-foundation