Booming NFT art market plagued by 'mind-blowing' fraud
As the NFT market explodes into a $25 billion industry, artists worry that lax oversight is leading to a digital art world flooded with fakes.
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As the NFT market explodes into a $25 billion industry, artists worry that lax oversight is leading to a digital art world flooded with fakes.
Before he passed away in 2019, Dan Howard was a concept artist, working with major video game companies and posting his drawings online, where he had amassed a loyal fan base. Late last year, an anonymous account online started auctioning off Howard’s work as non-fungible tokens (NFTs), a kind of digital asset often linked to an image or piece of artwork. Howard’s family only found out about the sales when a fan alerted them. “We felt like we’d been the victim of a high-tech grave robbery,” his brother Donovan, said. Donovan emailed OpenSea, the NFT marketplace where his brother’s ...
As NFT market surpassed US$25bil in 2021, one platform flagged 90,000 potential NFT fakes in three months. Art world is divided on whether NFTs help or hurt artists.
As the NFT market explodes into a $25 billion industry, artists worry that lax oversight is leading to a digital art world flooded with fakes.
Fazoli's Italian Restaurant on the east frontage road of U.S. 52 North closed its doors recently. On the positive side of Rochester’s restaurant ledger, Carbone’s Pizzeria, a legendary name in pizza from St. Paul, opened a new Med City location at 2723 Commerce Drive NW on Jan. 1.