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Simon de Pury Found NFTs Very, Very Confusing. So He Gave Himself a Crash Course—and Realized They’re Here to Stay The art-industry veteran weighs in on the gold rush for NFTs, and what it has in common with the Swatch boom of the '80s. April 26, 2021 Simon de Pury, then chairman of Phillips de Pury and Company at a preview the first auction of a historic collection of Swatch watches in Hong Kong in 2011. Photo by Dickson Lee/South China Morning Post via Getty Images. Every month in The Hammer, art-industry veteran Simon de Pury lifts the curtain on his life as the ultimate art-world ins...

627 Arushi Chaudhary You’re scrolling through Instagram or browsing Behance when you come across a stunning piece of digitally rendered art. How much would you pay to own it? Strike that. Would you pay for it at all when you could just make it your own with a right click+save or a screengrab? That has been the fate of digital art for as long as it has existed, primarily because of the ease of duplication. But not anymore. Today, digital art creations can be authenticated, verified and auctioned for millions of dollars. At the heart of this transformation is the up and coming space of crypto...

We bought an NFT. Here’s what we learned As headlines about people bidding eye-watering sums on GIFs of Pop Tart cats, the first-ever tweet, a Kings of Leon album and other NFTs piled up over the last several weeks, the CNN Business team decided the best way to understand the craze would be to buy one ourselves. That was easier said than done. It required not one but two wallet apps, a familiarity with a lesser-known denomination of a cryptocurrency and, perhaps most important of all, a discerning eye in sifting through an endless number of NFTs, ranging from pixelated wizards and tuxedo-we...

NFTs: Here's what we learned after buying one CNN 3/14/2021 © Courtesy Alex Shell Little Alien, multicolor edition, an NFT artwork by artist Alex Shell. As headlines about people bidding eye-watering sums on GIFs of Pop Tart cats, the first-ever tweet, a Kings of Leon album and other NFTs piled up over the last several weeks, the CNN Business team decided the best way to understand the craze would be to buy one ourselves. That was easier said than done. It required not one but two wallet apps, a familiarity with a lesser-known denomination of a cryptocurrency and, perhaps most important...

Chris Torres toggle caption Chris Torres A work called Nyan Cat by Chris Torres sold for $590,000 recently. It's part of growing interest in digital assets, known as nonfungible tokens, or NFTs, that are generating millions of dollars in sales every day. Chris Torres The artist Grimes recently sold a bunch of NFTs for nearly $6 million. An NFT of LeBron James making a historic dunk for the Lakers garnered more than $200,000. The band Kings of Leon is releasing its new album in the form of an NFT. At the auction house Christie's, bids on an NFT by the ar...