Washington: In October 2020, art collector Pablo Rodriguez-Frail, based in Miami, US, spent 67 thousand dollars (about 50.25 lakh rupees) to buy a ten-second video clip. Interestingly, he could also watch this video online for free if he wanted to. In late February, he sold the video for $ 66 million (about Rs 50 crore).
The video is produced by Digital Artist Beeple. His real name is Mike Winkleman. It was authenticated by the 'blockchain'. 'Blockchain' assumes the originality of digital content and certification of its original source. It is a variety of new digital assets, known as non-fungicur tokens (NFT).
During the corona crisis, its popularity doubled day-by-night, as a large number of investors invested capital in content that existed only in the digital world. They cannot be presented in different forms again and again. A ten-second video clip prepared from a computer shows a huge effigy resembling former President of America Donald Trump being smashed into the earth. This entire effigy is covered with slogans.
A 10-second video clip sold for $6.6 million: A new type of digital asset known as a non-fungible token (NFT) has exploded in popularity as enthusiasts and investors scramble to spend money on items that only exist online— Reuters (@Reuters)