artists and celebrities are making huge amounts of money selling the ownership of digital images. Chris Torres, the artist who first created Nyan Cat, recently ‘minted’ a new GIF of the famous internet meme which sold for over $470,000 worth of the Ethereum cryptocurrency in February 2020.
Grimes sold 10 images of digital artwork, the most expensive for nearly $400,000, to someone who wanted ownership of the online goods.
These artworks are called NFTs, or “non-fungible tokens”, and they exist on a similar blockchain technology to bitcoin as a way to prove “ownership” of them.
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