NFT Bought for $130 and Sold for $6.9 Million

Another record has been broken in the NFT realm. An artwork by Art Blocks io, in full 2100 EthereumSold to . Based on the value of EHT at the time of sale, this was recently sold as NTF for $130. The price of product number Ringers 109 That means over 6.9 million. In other words, Akira name user who made the sale, in March 0.1 EthereumHe sells Ringers 109, which he bought to , with a profit of approximately 50 thousand times.

openseanickname in 55FAF0 The recipient, whose name is unknown, was previously from the Ringers series. other works It is known that he bought

What is NFT and how is it used?

Data units in the digital ledger known as the blockchain, each of which can represent a unique digital item and therefore are not interchangeable. immutable token, well NFT; a tweet, painting, picture, memoir, football player card, etc. from digital files it can be anyone. These digital files can be reproduced endlessly; however, NFTs representing files are tracked on the blockchain, providing buyers with proof of ownership. Commonly used blockchains such as Flow, Ethereum, Bitcoin Cash have their own token standards to define NFT uses.

Unlike cryptocurrencies like Bitcoin and many service tokens and networks, they are mutually exclusive. unchangeable NFTs; related files OpenSea, KnownOrigin and rarible similar NFT enters circulation after being uploaded to the auction market and then put up for sale. This creates an NFT copy of the file saved in the digital ledger, which can be bought and resold with crypto. The copyrights of the NFT sold as a representation of any work can remain with the artist and the artist can sell more NFTs of the same work if he wishes.