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Christie's first NFT art auction skyrockets from $100 to top $60 million

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  • blurryfaceblurryface Posts: 5,136 ✭✭✭✭✭

    a cyberpunk went for $7.5mil earlier this week as well. to think, they were initially given away for free.

  • blurryfaceblurryface Posts: 5,136 ✭✭✭✭✭

    and while i still don't full comprehend it, ever since i redeemed some of my panini blockchain "cards", i've been getting constant and crazy offers. with the trend, i have zero inclination to sell...of course, i have no idea how i would even get paid as i have zero bank info tied to paninis site and have never bought anything direct

    just the past few hours of offers:

  • KyserKyser Posts: 213 ✭✭✭

    I WAS confused about my boomer status.

  • emaremar Posts: 697 ✭✭✭✭

    We need a thread explaining this stuff. I feel old.
    The above auction was for a JPG file.
    @Blurry appears to be wise to hold tight

  • Copyboy1Copyboy1 Posts: 479 ✭✭✭✭

    @emar said:
    We need a thread explaining this stuff. I feel old.
    The above auction was for a JPG file.
    @Blurry appears to be wise to hold tight

    I don't get why they're even worth a dime, but basically it's this:

    1. You can ascertain if a physical thing is authentic, thus giving it value.
    2. You used to not be able to ascertain if a digital thing was authentic, because exact copies were easy to make.
    3. NFTs assign a digital (blockchain) fingerprint to digital files (art, video, whatever) to prove their authenticity, thus giving them value.
  • brad31brad31 Posts: 2,783 ✭✭✭✭✭

    So as the owner - does anyone who uses the image in anyway have to pay you royalties or take it down? Or do you just own your copy of the image that is authorized by the artist?

  • blurryfaceblurryface Posts: 5,136 ✭✭✭✭✭

    @emar said:
    We need a thread explaining this stuff. I feel old.
    The above auction was for a JPG file.
    @Blurry appears to be wise to hold tight

    i'm trying to wrap my head around it. there's just so many layers to the onion mixed w cyber terminology that i feel like i'm taking algebra ii again for the 5th time. and still failing.

    the only thing i do know is anything digi/crypto/nft seems to be exploding.

    i feel like if there were a bubble, this would be a pretty good preliminary indicator of it popping.

  • blurryfaceblurryface Posts: 5,136 ✭✭✭✭✭
    edited March 12, 2021 10:51AM

    sharing some of my block chain cards here. free of charge of course! 😉 how what you guys have now differs from what i have in my portfolio is beyond me other than my physical right to transfer it.

    these had been piling up on my desk from various breaks as i simply didn't see the value in them. they came just like any standard redemption w the scratch off to reveal the code. i think i was initially turned off bc the first one i got, i DID think it was a redemption. i came VERY close to trashing them a while back similar to fleer/upper deck team stickers from back in the day.

    anyways, i have 10 cards in my portfolio as of last night. have recieved offers on all of them ranging from $30 - $1500. just calculated my total offers and just within the 18 hour time period, i've received $8230 in offers. i still don't know if this would be actual cash or money to be used on the panini site.

    without further ado:

    rj barrett logoman 1/1 (very popular one)

    ja morant rpa "auto" 1/3 - the "auto" is very funny to me

    tyler herro / kendrick nunn dual "auto"

    rui hachimura rpa ruby 8/8 & matching jersey number (very popular w offers)

  • Copyboy1Copyboy1 Posts: 479 ✭✭✭✭
    edited March 12, 2021 10:58AM

    @brad31 said:
    So as the owner - does anyone who uses the image in anyway have to pay you royalties or take it down? Or do you just own your copy of the image that is authorized by the artist?

    Technically, yes, they're violating copyright. (Although the reality is, you can color copy a 52 Mantle, pin it to your wall, and no one's coming after you.) Practically, it just means you can't sell the copy - because it's a worthless copy. The only saleable thing is the one with the digital fingerprint.

    This gives people a way to prove authenticity as well as scarcity - if the digital artist only produces and sells one NFT, then you have proof you own the only legit copy, and can sell it that way.

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