Madonna to Amitabh Bachchan: Celebrities who are embracing NFT marketplace

UK tax authorities have seized Non-Fungible Tokens (NFT) amid a probe involving suspected VAT fraud involving 250 alleged fake companies.

The people behind the crime were allegedly attempting millions of dollars in attempted fraud as UK authorities began the probe. The criminals had reportedly hid their real identity and made false identities, UK's revenue and customs officials said.

<a href="https://www.wionews.com/technology/nft-platform-that-sold-dorseys-first-tweet-shuts-down-due-to-rampant-fakes-452578">Also Read:&nbsp;NFT platform that sold Dorsey's first tweet shuts down due to 'rampant' fakes</a>

The people involved in the crime reportedly also used pre-paid unregistered mobile phones, VPNs and false invoices to defraud people.

Last week, the US Justice Department had recovered 94,000 bitcoin stolen six years ago valued at $3.6 billion. A couple were reported to be involved in the scam. They were arrested and charged while facing nearly 20 years in prison.

The couple used the funds to buy gold and digital NFTs, US officials said.

<a href="https://www.wionews.com/technology/after-cryptocurrencies-money-laundering-via-nfts-is-next-big-worry-450303">Also Read:&nbsp;After cryptocurrencies, money laundering via NFTs is next big worry</a>

NFTs are digital items that can be bought and sold using blockchain technology on specialised platforms. Last year, crypto data site Dapp had reported that land worth over $100 million was sold in metaverse sites, Decentraland, The Sandbox, CryptoVoxels and Somnium Space.

Decentraland puts everything from land to virtual artwork in the form of NFTs as people have sent thousands of dollars to acquire digital items.&nbsp;

The value of Bitcoins soared to record levels last year valued at $68,513 in November 2021. However, it also witnessed rapid fluctuations.

(With inputs from Agencies)

UK tax authorities have seized Non-Fungible Tokens (NFT) amid a probe involving suspected VAT fraud involving 250 alleged fake companies. The people behind the crime were allegedly attempting millions of dollars in attempted fraud as UK authorities began the probe.

UK tax authorities have seized Non-Fungible Tokens (NFT) amid a probe involving suspected VAT fraud involving 250 alleged fake companies. The people behind the crime were allegedly attempting millions of dollars in attempted fraud as UK authorities began the probe. The criminals had reportedly hid their real identity and made false identities, UK's revenue and customs officials said. Also Read: NFT platform that sold Dorsey's first tweet shuts down due to 'rampant' fakes The people involved in the crime reportedly also used pre-paid unregistered mobile phones, VPNs and false invoices to defraud people. Last week, the US Justice Department had recovered 94,000 bitcoin stolen six years ago valued at $3.6 billion. A couple were reported to be involved in the scam. They were arrested and charged while facing nearly 20 years in prison. The couple used the funds to buy gold and digital NFTs, US officials said. Also Read: After cryptocurrencies, money laundering via NFTs is next big worry NFTs are digital items that can be bought and sold using blockchain technology on specialised platforms. Last year, crypto data site Dapp had reported that land worth over $100 million was sold in metaverse sites, Decentraland, The Sandbox, CryptoVoxels and Somnium Space. Decentraland puts everything from land to virtual artwork in the form of NFTs as people have sent thousands of dollars to acquire digital items. The value of Bitcoins soared to record levels last year valued at $68,513 in November 2021. However, it also witnessed rapid fluctuations. (With inputs from Agencies)

UK seizes NFT in suspected VAT fraud probe

Experts estimate that within five years, digital art will have surpassed traditional art markets.

Both Coinbase and Sotheby's, an auction house that has been functioning since 1744, announced this month that they will be creating NFT marketplaces.

Nonfungible tokens, or NFTs, are one-of-a-kind assets that can't be replaced, and they're validated and stored using blockchain technology.

They can include everything from music to a website address, but digital artwork is the current craze.&nbsp;

What exactly is a Non-Fungible Token (NFT)?

A Non-Fungible Token (NFT) is a one-of-a-kind digital token that is permanently linked to a piece and is encrypted with the artist's signature. It validates the piece's ownership and authenticity.

It's a form of digital asset that can be used to represent real-world artefacts like art, music, video, and in-game stuff.

They're frequently encoded with the same software as many other cryptos and are bought and sold online, often with cryptocurrency.

ALSO READ | &nbsp;<a href="https://www.wionews.com/technology/what-is-log4j-the-biggest-computer-vulnerability-in-decades-436791">What is Log4j, the biggest computer vulnerability in decades?</a>

For example, money is fungible, which means that one rupee can be exchanged for another.

By definition, a non-fungible token is not comparable to another non-fungible token.

This means that each NFT is either one-of-a-kind or part of a very limited run, and each has its own unique code.&nbsp;

What's the difference between a non-fungible token (NFT) and a cryptocurrency?

Fungible assets, such as currency notes, can be easily interchanged.

Cryptocurrencies designed to operate as currencies, such as bitcoin, are fungible, which means that any two bitcoins are similar and thus interchangeable.

ALSO READ | &nbsp;<a href="https://www.wionews.com/technology/nft-worth-300000-accidentally-sells-for-3000-due-to-misplaced-decimal-point-436803">NFT worth $300,000 accidentally sells for $3,000 due to misplaced decimal point</a>

Unlike bitcoin and other cryptocurrencies, NFT is a crypto asset that exists on blockchains (cryptographic digital ledgers), but each token is absolutely unique.

It's great for things like digital art certification. 
 
Watch | What are non-fungible tokens?

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/what-are-non-fungible-tokens-424988/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

 
What do non-fungible tokens (NFT) look like?

The majority of NFTs incorporate digital artwork in the form of images, videos, GIFs, and music.

In theory, anything digital can be converted to an NFT.

How to start buying NFTs?&nbsp;

NFTs are now mostly traded via 'drops,' or timed online sales by blockchain-backed marketplaces such as Nifty Gateway, Opensea, and Rarible.

If you're interested in starting your own NFT collection, you'll need the following items:

To begin with, you'll need a digital wallet that can hold both NFTs and cryptocurrencies.

Depending on what currency your NFT provider takes, you'll probably need to buy some cryptocurrency, such as Ether.

With Coinbase, Kraken, eToro, and even PayPal and Robinhood, you can now buy cryptocurrency with a credit card.

After that, you'll be able to transfer it from the exchange to your preferred wallet.

When researching your alternatives, keep fees in mind.

When you acquire crypto, most exchanges charge at least a portion of your transaction.&nbsp;

Why would I want to own one?

There are numerous reasons why someone might wish to purchase an NFT.

Because NFTs are considered collector's objects, emotional value may be a factor for some.

Others regard them as a potential investment opportunity, comparable to cryptocurrencies, because their value may rise.

Who was the first to invent the NFT?

On May 3rd, 2014, the history of NFTs and the guy who invented them, Kevin McCoy, began.

He created "Quantum," a non-fungible token, long before the crypto art market exploded.

Quantum is a pixelated image of an octagon filled with shapes that share the same centre, with larger shapes surrounding smaller ones and hypnotically pulsing in brilliant hues.

The one-of-a-kind "Quantum" art project (2014-2021) is currently for sale for $7 million.&nbsp;

(With inputs from agencies)

Experts estimate that within five years, digital art will have surpassed traditional art markets. Both Coinbase and Sotheby's, an auction house that has been functioning since 1744, announced this month that they will be creating NFT marketplaces.

Experts estimate that within five years, digital art will have surpassed traditional art markets. Both Coinbase and Sotheby's, an auction house that has been functioning since 1744, announced this month that they will be creating NFT marketplaces. Nonfungible tokens, or NFTs, are one-of-a-kind assets that can't be replaced, and they're validated and stored using blockchain technology. They can include everything from music to a website address, but digital artwork is the current craze. What exactly is a Non-Fungible Token (NFT)? A Non-Fungible Token (NFT) is a one-of-a-kind digital token that is permanently linked to a piece and is encrypted with the artist's signature. It validates the piece's ownership and authenticity. It's a form of digital asset that can be used to represent real-world artefacts like art, music, video, and in-game stuff. They're frequently encoded with the same software as many other cryptos and are bought and sold online, often with cryptocurrency. ALSO READ | What is Log4j, the biggest computer vulnerability in decades? For example, money is fungible, which means that one rupee can be exchanged for another. By definition, a non-fungible token is not comparable to another non-fungible token. This means that each NFT is either one-of-a-kind or part of a very limited run, and each has its own unique code. What's the difference between a non-fungible token (NFT) and a cryptocurrency? Fungible assets, such as currency notes, can be easily interchanged. Cryptocurrencies designed to operate as currencies, such as bitcoin, are fungible, which means that any two bitcoins are similar and thus interchangeable. ALSO READ | NFT worth $300,000 accidentally sells for $3,000 due to misplaced decimal point Unlike bitcoin and other cryptocurrencies, NFT is a crypto asset that exists on blockchains (cryptographic digital ledgers), but each token is absolutely unique. It's great for things like digital art certification. Watch | What are non-fungible tokens? What do non-fungible tokens (NFT) look like? The majority of NFTs incorporate digital artwork in the form of images, videos, GIFs, and music. In theory, anything digital can be converted to an NFT. How to start buying NFTs? NFTs are now mostly traded via 'drops,' or timed online sales by blockchain-backed marketplaces such as Nifty Gateway, Opensea, and Rarible. If you're interested in starting your own NFT collection, you'll need the following items: To begin with, you'll need a digital wallet that can hold both NFTs and cryptocurrencies. Depending on what currency your NFT provider takes, you'll probably need to buy some cryptocurrency, such as Ether. With Coinbase, Kraken, eToro, and even PayPal and Robinhood, you can now buy cryptocurrency with a credit card. After that, you'll be able to transfer it from the exchange to your preferred wallet. When researching your alternatives, keep fees in mind. When you acquire crypto, most exchanges charge at least a portion of your transaction. Why would I want to own one? There are numerous reasons why someone might wish to purchase an NFT. Because NFTs are considered collector's objects, emotional value may be a factor for some. Others regard them as a potential investment opportunity, comparable to cryptocurrencies, because their value may rise. Who was the first to invent the NFT? On May 3rd, 2014, the history of NFTs and the guy who invented them, Kevin McCoy, began. He created "Quantum," a non-fungible token, long before the crypto art market exploded. Quantum is a pixelated image of an octagon filled with shapes that share the same centre, with larger shapes surrounding smaller ones and hypnotically pulsing in brilliant hues. The one-of-a-kind "Quantum" art project (2014-2021) is currently for sale for $7 million. (With inputs from agencies)

What is a non-fungible token (NFT)? Explaining the internet's latest craze

As the new Matrix film gets closer to the release date, fans of the famous sci-fi trilogy lined up to buy digital collectibles tied to the Warner Bros. film.&nbsp;

The NFTs of ‘The Matrix Resurrections’ are available for $50 apiece. The NFT marketplace hosting the sale got swamped as fans lined up and the company had to pause the sale to manage the crowds.&nbsp;

Within an hour of opening Matrix NFT, Nifty’s halted the purchase then restarted and then paused. Within 24 hours, there were more than 330,000 users waiting in the queue on Nifty’s website for the chance to buy the ‘Matrix’ NFTs.&nbsp;<a href="https://www.wionews.com/entertainment/future-of-cinema-zero-contact-starring-anthony-hopkins-to-release-on-nft-platform-vuele-413489">Future of cinema? 'Zero Contact' starring Anthony Hopkins to release on NFT platform Vuele</a>

Earlier this month, Warner Bros. announced that it would mint 100,000 unique NFTs of ‘Matrix’-inspired avatars — a natural tie-in to the movie franchise’s virtual-world conceit and designed to promote the December 22 release of ‘Matrix Resurrections’.

<a href="https://www.wionews.com/trending/collins-dictionary-makes-nft-its-word-of-the-year-431592">Collins Dictionary makes NFT its word of the year</a>

According to Nifty’s, once it scaled to max capacity, “we encountered infrastructure issues, and our team is actively working on a solution with our cloud provider.”&nbsp;

The company recommended that those still waiting in line to buy “Matrix” NFTs add their email to the “Please notify me when it is my turn” field on its website, “so that you’ll know specifically when you have made it to the front of the line.”

<a href="https://www.wionews.com/entertainment/bollywood/news-amitabh-bachchans-nft-collection-records-highest-ever-bidding-in-india-426566">Amitabh Bachchan's NFT collection records highest-ever bidding in India</a>

Directed by Lana Wachowski, The Matrix Resurrections is the fourth film in the franchise. It’s making its comeback after 18 years and brings back the dream cast together along with some new additions like Priyanka Chopra.

The film is due to release on December 22.&nbsp;

As the new Matrix film gets closer to the release date, fans of the famous sci-fi trilogy lined up to buy digital collectibles tied to the Warner Bros. film. The NFTs of ‘The Matrix Resurrections’ are available for $50 apiece.

As the new Matrix film gets closer to the release date, fans of the famous sci-fi trilogy lined up to buy digital collectibles tied to the Warner Bros. film. The NFTs of ‘The Matrix Resurrections’ are available for $50 apiece. The NFT marketplace hosting the sale got swamped as fans lined up and the company had to pause the sale to manage the crowds. Within an hour of opening Matrix NFT, Nifty’s halted the purchase then restarted and then paused. Within 24 hours, there were more than 330,000 users waiting in the queue on Nifty’s website for the chance to buy the ‘Matrix’ NFTs. Future of cinema? 'Zero Contact' starring Anthony Hopkins to release on NFT platform Vuele Earlier this month, Warner Bros. announced that it would mint 100,000 unique NFTs of ‘Matrix’-inspired avatars — a natural tie-in to the movie franchise’s virtual-world conceit and designed to promote the December 22 release of ‘Matrix Resurrections’. Collins Dictionary makes NFT its word of the year According to Nifty’s, once it scaled to max capacity, “we encountered infrastructure issues, and our team is actively working on a solution with our cloud provider.” The company recommended that those still waiting in line to buy “Matrix” NFTs add their email to the “Please notify me when it is my turn” field on its website, “so that you’ll know specifically when you have made it to the front of the line.” Amitabh Bachchan's NFT collection records highest-ever bidding in India Directed by Lana Wachowski, The Matrix Resurrections is the fourth film in the franchise. It’s making its comeback after 18 years and brings back the dream cast together along with some new additions like Priyanka Chopra. The film is due to release on December 22.

'Matrix Resurrections' NFT creates chaos among fans, website crashes over huge demand

Ace filmmaker Quentin Tarantino is now facing a copyright infringement lawsuit for selling NFTs based on the screenplay of his film ‘Pulp Fiction’. Miramax has filed a lawsuit against the filmmaker.&nbsp;

Tarantino had first announced the NFTs at a recent crypto-art convention that took place in New York. He had said, “I’m excited to be presenting these exclusive scenes from ‘Pulp Fiction’ to fans.”

As the auction takes place, the contents of the screenplay will thus be available exclusively by the owner. It is based on the excerpts from <a data-ctorig="https://www.wionews.com/topics/quentin-tarantino" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/topics/quentin-tarantino&amp;sa=U&amp;ved=2ahUKEwi82vat4p70AhXYwzgGHXN0A20QFnoECAcQAQ&amp;usg=AOvVaw1zYObL_FcUW-VdImJPsCjE" dir="ltr" href="https://www.wionews.com/topics/quentin-tarantino" target="_blank">Quentin Tarantino</a>’s original handwritten script for the film. However, Miramax is not happy as they insist that the filmmaker did not consult them before announcing the NFTs. They still own the rights of the 1994 classic film ‘Pulp Fiction’.&nbsp;

<a href="https://www.wionews.com/entertainment/bollywood/news-amitabh-bachchans-nft-collection-records-highest-ever-bidding-in-india-426566">Amitabh Bachchan's NFT collection records highest-ever bidding in India</a>

Miramax’s attorneys have sent a cease and desist letter seeking to block the sale, but that has not stopped Tarantino and his team from moving forward. Miramax argues that NFTs are a one-time sale, and are not equivalent to publication of a screenplay, and that therefore Miramax owns the NFT rights. The suit states claims of breach of contract, copyright infringement, trademark infringement and unfair competition.

Quentin Tarantino and team are yet to respond to this lawsuit.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-heres-why-quentin-tarantino-vowed-as-a-kid-to-never-share-film-proceeds-with-mom-404194" hreflang="en">Here's why Quentin Tarantino vowed as a kid to never share film proceeds with mom</a>

<a href="https://www.wionews.com/entertainment/hollywood/news-quentin-tarantino-reveals-his-favourite-scene-from-once-upon-a-time-in-hollywood-didnt-make-it-to-the-final-cut-396990" hreflang="en">Quentin Tarantino reveals his favourite scene from 'Once Upon A Time in Hollywood' didn't make it to the final cut</a>

Ace filmmaker Quentin Tarantino is now facing a copyright infringement lawsuit for selling NFTs based on the screenplay of his film ‘Pulp Fiction’. Miramax has filed a lawsuit against the filmmaker.

Ace filmmaker Quentin Tarantino is now facing a copyright infringement lawsuit for selling NFTs based on the screenplay of his film ‘Pulp Fiction’. Miramax has filed a lawsuit against the filmmaker. Tarantino had first announced the NFTs at a recent crypto-art convention that took place in New York. He had said, “I’m excited to be presenting these exclusive scenes from ‘Pulp Fiction’ to fans.” As the auction takes place, the contents of the screenplay will thus be available exclusively by the owner. It is based on the excerpts from Quentin Tarantino’s original handwritten script for the film. However, Miramax is not happy as they insist that the filmmaker did not consult them before announcing the NFTs. They still own the rights of the 1994 classic film ‘Pulp Fiction’. Amitabh Bachchan's NFT collection records highest-ever bidding in India Miramax’s attorneys have sent a cease and desist letter seeking to block the sale, but that has not stopped Tarantino and his team from moving forward. Miramax argues that NFTs are a one-time sale, and are not equivalent to publication of a screenplay, and that therefore Miramax owns the NFT rights. The suit states claims of breach of contract, copyright infringement, trademark infringement and unfair competition. Quentin Tarantino and team are yet to respond to this lawsuit. Also read: Here's why Quentin Tarantino vowed as a kid to never share film proceeds with mom Quentin Tarantino reveals his favourite scene from 'Once Upon A Time in Hollywood' didn't make it to the final cut

Quentin Tarantino served copyright infringement lawsuit over 'Pulp Fiction' NFT auction

Indian actor Kamal Haasan is all set to become the first Indian celebrity to have a very own digital avatar himself in a metaverse.&nbsp;

The actor-politician announced his entry into the digital space with the launch of non-fungible token (NFT). With this, he joined a long list of celebrities who are now venturing into this space like Amitabh Bachchan and Sunny Leone. They too launched their own collection of digital tokens which will be exclusive to the buyers who invest in it. Also read:&nbsp;<a href="https://www.wionews.com/entertainment/bollywood/news-amitabh-bachchans-nft-collection-records-highest-ever-bidding-in-india-426566">Amitabh Bachchan's NFT collection records highest-ever bidding in India</a>

Kamal Haasan said, “I am excited to explore the emerging intersection of digital and physical world, which is now becoming popularly known as metaverse..my life’s journey of over six decades have blurred the distinction between my personal and professional life will be my offering for this metaverse.”

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-john-oliver-mocks-avatar-sequels-%E2%80%98no-one-gives-a-st%E2%80%99-427747" hreflang="en">John Oliver mocks 'Avatar' sequels: ‘No one gives a s**t’</a>

<h5><a href="https://www.wionews.com/entertainment/bollywood/news-internet-is-going-crazy-over-amitabh-bachchans-unique-bull-painting-427725" hreflang="en">Internet is going crazy over Amitabh Bachchan's unique bull painting</a></h5>

Kamal has tied with Fantico, an Indian licensed digital collectibles platform, to launch his own NFT collection.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/bollywood/news-padma-awards-2021-kangana-ranaut-adnan-sami-receive-padma-shri-427669" hreflang="en">Padma Awards 2021: Kangana Ranaut, Adnan Sami receive Padma Shri</a>

An NFT is a unit of data stored on a digital ledger called a blockchain that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio and other types of digital files.

Indian actor Kamal Haasan is all set to become the first Indian celebrity to have a very own digital avatar himself in a metaverse. The actor-politician announced his entry into the digital space with the launch of non-fungible token (NFT).

Indian actor Kamal Haasan is all set to become the first Indian celebrity to have a very own digital avatar himself in a metaverse. The actor-politician announced his entry into the digital space with the launch of non-fungible token (NFT). With this, he joined a long list of celebrities who are now venturing into this space like Amitabh Bachchan and Sunny Leone. They too launched their own collection of digital tokens which will be exclusive to the buyers who invest in it. Also read: Amitabh Bachchan's NFT collection records highest-ever bidding in India Kamal Haasan said, “I am excited to explore the emerging intersection of digital and physical world, which is now becoming popularly known as metaverse..my life’s journey of over six decades have blurred the distinction between my personal and professional life will be my offering for this metaverse.” Also read: John Oliver mocks 'Avatar' sequels: ‘No one gives a s**t’ Internet is going crazy over Amitabh Bachchan's unique bull painting Kamal has tied with Fantico, an Indian licensed digital collectibles platform, to launch his own NFT collection. Also read: Padma Awards 2021: Kangana Ranaut, Adnan Sami receive Padma Shri An NFT is a unit of data stored on a digital ledger called a blockchain that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio and other types of digital files.

Kamal Haasan to become first Indian celebrity to have his own digital avatar in metaverse

Amitabh Bachchan debuted his non-fungible token or NFT and received the highest ever bidding of its kind in the country. This could possibly be the next big thing as celebrities move forward to collect these digital assets.&nbsp;

Amitabh Bachchan has become the first Bollywood star to launch his own NFT collection. The star’s NFT collections of ‘Madhushala’, autographed posters and collectables, have received bids worth Rs 3.8 crore ($520,000) during the first day of auction.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-trend-watch-look-your-best-this-diwali-with-our-top-picks-for-this-festive-season-426375" hreflang="en">Trend Watch: Look your best this Diwali with our top picks for this festive season</a>

According to PTI, Madhushala NFT is the poem collection of the actor’s father recorded in the superstar’s own voice. The auction also features seven autographed posters from his iconic movies and six of the ‘punks’, NFT art and poster collection. Another feature in this NFT is a ‘Loot Box’ worth $10 each, in which buyers an assured art piece from the NFT collection. There are 5,000 units of the Loot Box, which got sold out on Tuesday itself. Also read:&nbsp;<a href="https://www.wionews.com/entertainment/tamil-film-jai-bhim-sparks-anti-hindi-controversy-for-a-scene-featuring-prakash-raj-426560" hreflang="en">Tamil film 'Jai Bhim' sparks anti-Hindi controversy for a scene featuring Prakash Raj</a>

As per Beyondlife’s website, “The <a data-ctorig="https://www.wionews.com/topics/amitabh-bachchan" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/topics/amitabh-bachchan&amp;sa=U&amp;ved=2ahUKEwiIu-Ck9f3zAhX34XMBHcUdD4Q4ChAWegQIARAB&amp;usg=AOvVaw12ckFjZhENeRSEUrMshDBD" dir="ltr" href="https://www.wionews.com/topics/amitabh-bachchan" target="_blank">Amitabh Bachchan</a> NFT is a set of limited edition digital collectible featuring the Bollywood superstar. It includes some of the most exclusive creations featuring the superstar… Like poetry in his voice, vintage posters, digital art and “Big B Punks"."

The auction that started on November 1, Monday, is set to close on November 4, Thursday.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/leonardo-dicaprio-shockingly-heckled-screamed-at-by-a-woman-at-cop26-summit-426317" hreflang="en">Leonardo DiCaprio shockingly heckled, screamed at by a woman at COP26 summit</a>

What is NFT?&nbsp;

Meanwhile, for those wondering what NFTs are, it’s a one-of-a-kind digital asset that represents real world objects such as music, art, in-game articles, videos or even social media posts. Since they are non-fungible, NFTs can not be interchanged with anything else as it is unique and irreplaceable. These digital tokens have been around since 2014.

Amitabh Bachchan debuted his non-fungible token or NFT and received the highest ever bidding of its kind in the country. This could possibly be the next big thing as celebrities move forward to collect these digital assets.

Amitabh Bachchan debuted his non-fungible token or NFT and received the highest ever bidding of its kind in the country. This could possibly be the next big thing as celebrities move forward to collect these digital assets. Amitabh Bachchan has become the first Bollywood star to launch his own NFT collection. The star’s NFT collections of ‘Madhushala’, autographed posters and collectables, have received bids worth Rs 3.8 crore ($520,000) during the first day of auction. Also read: Trend Watch: Look your best this Diwali with our top picks for this festive season According to PTI, Madhushala NFT is the poem collection of the actor’s father recorded in the superstar’s own voice. The auction also features seven autographed posters from his iconic movies and six of the ‘punks’, NFT art and poster collection. Another feature in this NFT is a ‘Loot Box’ worth $10 each, in which buyers an assured art piece from the NFT collection. There are 5,000 units of the Loot Box, which got sold out on Tuesday itself. Also read: Tamil film 'Jai Bhim' sparks anti-Hindi controversy for a scene featuring Prakash Raj As per Beyondlife’s website, “The Amitabh Bachchan NFT is a set of limited edition digital collectible featuring the Bollywood superstar. It includes some of the most exclusive creations featuring the superstar… Like poetry in his voice, vintage posters, digital art and “Big B Punks"." The auction that started on November 1, Monday, is set to close on November 4, Thursday. Also read: Leonardo DiCaprio shockingly heckled, screamed at by a woman at COP26 summit What is NFT? Meanwhile, for those wondering what NFTs are, it’s a one-of-a-kind digital asset that represents real world objects such as music, art, in-game articles, videos or even social media posts. Since they are non-fungible, NFTs can not be interchanged with anything else as it is unique and irreplaceable. These digital tokens have been around since 2014.

Amitabh Bachchan's NFT collection records highest-ever bidding in India

Whiskey makers Glenfiddich have sold extremely rare non-fungible tokens (NFTs)&nbsp;for $270,000.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Check out our latest NFT release on <a href="https://t.co/qVD6dtWnaO">https://t.co/qVD6dtWnaO</a>, 15 limited edition 1973 46 year old Armagnac Cask finish whiskies.<a href="https://twitter.com/hashtag/Glenfiddich?src=hash&amp;ref_src=twsrc%5Etfw">#Glenfiddich</a> <a href="https://twitter.com/hashtag/GlenfiddichNFT?src=hash&amp;ref_src=twsrc%5Etfw">#GlenfiddichNFT</a> <a href="https://twitter.com/hashtag/NFTs?src=hash&amp;ref_src=twsrc%5Etfw">#NFTs</a><a href="https://twitter.com/hashtag/BlockBar?src=hash&amp;ref_src=twsrc%5Etfw">#BlockBar</a> <a href="https://t.co/Y5J6giUka3">pic.twitter.com/Y5J6giUka3</a>
— Glenfiddich Whisky (@GlenfiddichSMW) <a href="https://twitter.com/GlenfiddichSMW/status/1451494464518868992?ref_src=twsrc%5Etfw">October 22, 2021</a></blockquote>
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An NFT is a digital asset that exists on a blockchain. The blockchain serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership.

So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind.

<a href="https://www.wionews.com/sports/football-lionel-messi-launches-messiverse-nft-crypto-art-collection-407123">Also read |&nbsp;Football: Lionel Messi launches 'Messiverse' NFT crypto art collection</a>

NFTs are usually bought with the cryptocurrency Ether or in dollars and the blockchain keeps a record of transactions.

While anyone can view the NFTs, the buyer has the status of being the official owner, a kind of digital bragging rights.

Utilising the surge in popularity in NFTs, Glenfiddich has fetched $18,000 apiece for 15 bottles of Armagnac-casked, 46-year-old whiskey along with its own unique.

<a href="https://www.wionews.com/world/tim-berners-lees-nft-of-world-wide-web-source-code-sold-for-54-million-395074">Also read |&nbsp;Tim Berners-Lee’s NFT of World Wide Web source code sold for $5.4 million</a>

According to Dov and Sam Fallic, founders of BlockBar, who&nbsp;handled the technical side of the project, ''Who cares about something that’s digital? But the younger generation spends more time in the digital world than the physical world. That's where they live, and that's where they interact.''

''We are always looking at new ideas; most recently, we've been working on converting our delivery trucks to work on biogas fuel generated from distillery waste. The whisky is unique,&nbsp;using an Armagnac cask was an innovation in 1973,&nbsp;and has an incredible flavour. This is a marriage of a very rare, unique proposition in whisky with blockchain that felt right for us,'' said William Grant and Sons will certify the possession of the NFTs.

Total NFT trading volumes on the Ethereum blockchain amount to over $400 million, nearly half of which were in the last 30 days, according to NonFungible.com, which aggregates data from NFT marketplaces.

Enthusiasts see NFTs as the future of ownership. All kinds of property - from event tickets to houses - will eventually have their ownership status tokenised in this way, they believe.

For artists, NFTs could solve the problem of how they can monetise digital artworks. They can receive more income from NFTs, as they can get a royalty each time the NFT changes hands after the initial sale.

Whiskey makers Glenfiddich have sold extremely rare non-fungible tokens (NFTs) for $270,000. Check out our latest NFT release on https://t.co/qVD6dtWnaO, 15 limited edition 1973 46 year old Armagnac Cask finish whiskies.

Whiskey makers Glenfiddich have sold extremely rare non-fungible tokens (NFTs) for $270,000. Check out our latest NFT release on https://t.co/qVD6dtWnaO, 15 limited edition 1973 46 year old Armagnac Cask finish whiskies.#Glenfiddich #GlenfiddichNFT #NFTs#BlockBar pic.twitter.com/Y5J6giUka3 — Glenfiddich Whisky (@GlenfiddichSMW) October 22, 2021 × An NFT is a digital asset that exists on a blockchain. The blockchain serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership. So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind. Also read | Football: Lionel Messi launches 'Messiverse' NFT crypto art collection NFTs are usually bought with the cryptocurrency Ether or in dollars and the blockchain keeps a record of transactions. While anyone can view the NFTs, the buyer has the status of being the official owner, a kind of digital bragging rights. Utilising the surge in popularity in NFTs, Glenfiddich has fetched $18,000 apiece for 15 bottles of Armagnac-casked, 46-year-old whiskey along with its own unique. Also read | Tim Berners-Lee’s NFT of World Wide Web source code sold for $5.4 million According to Dov and Sam Fallic, founders of BlockBar, who handled the technical side of the project, ''Who cares about something that’s digital? But the younger generation spends more time in the digital world than the physical world. That's where they live, and that's where they interact.'' ''We are always looking at new ideas; most recently, we've been working on converting our delivery trucks to work on biogas fuel generated from distillery waste. The whisky is unique, using an Armagnac cask was an innovation in 1973, and has an incredible flavour. This is a marriage of a very rare, unique proposition in whisky with blockchain that felt right for us,'' said William Grant and Sons will certify the possession of the NFTs. Total NFT trading volumes on the Ethereum blockchain amount to over $400 million, nearly half of which were in the last 30 days, according to NonFungible.com, which aggregates data from NFT marketplaces. Enthusiasts see NFTs as the future of ownership. All kinds of property - from event tickets to houses - will eventually have their ownership status tokenised in this way, they believe. For artists, NFTs could solve the problem of how they can monetise digital artworks. They can receive more income from NFTs, as they can get a royalty each time the NFT changes hands after the initial sale.

Whiskey brand fetches $270,000 for extremely rare NFTs

Bollywood superstar Salman Khan has confirmed that he will be part of the platform with Salman Khan Static NFTs. The platform notably aims to be the largest Bollywood-centric NFT marketplace in the world, reports claim.

 
Interestingly, Salman Khan becomes one of the first big names from Bollywood to commit to entering the Indian NFT space with BollyCoin, a platform started by producer-director Atul Agnihotri (Salman Khan's brother-in-law).&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/bollywood/news-srikanth-veteran-indian-actor-dies-at-82-rajinikanth-pay-tribute-420410" hreflang="en">Srikanth, veteran Indian actor, dies at 82: Rajinikanth pay tribute</a>

 
"Aa raha hu main NFTs lekar", Salman Khan tweeted.

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<blockquote class="twitter-tweet">
Aa raha hoon main, NFTs leke. Salman Khan Static NFTs coming on <a href="https://twitter.com/bollycoin?ref_src=twsrc%5Etfw">@bollycoin</a>. Stay tuned, bhai log! <a href="https://t.co/auNNbccZJX">https://t.co/auNNbccZJX</a> 🌟<a href="https://twitter.com/hashtag/BollyCoin?src=hash&amp;ref_src=twsrc%5Etfw">#BollyCoin</a> <a href="https://twitter.com/hashtag/NFTs?src=hash&amp;ref_src=twsrc%5Etfw">#NFTs</a> <a href="https://twitter.com/hashtag/ComingSoon?src=hash&amp;ref_src=twsrc%5Etfw">#ComingSoon</a> <a href="https://t.co/u8ZWUSwuq0">pic.twitter.com/u8ZWUSwuq0</a>
— Salman Khan (@BeingSalmanKhan) <a href="https://twitter.com/BeingSalmanKhan/status/1448181752455856130?ref_src=twsrc%5Etfw">October 13, 2021</a></blockquote>
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"Whenever we talk about blockchain or investment, there’s always this feeling of uncertainty we feel because most of us don’t know much about stocks, cryptocurrencies, or any other form of digital assets. We know about famous Bollywood movie dialogues, songs, and hook steps of popular dance numbers. With BollyCoin, we have tried to find that perfect balance between investments, NFTs, digital assets, and creative content consumption. We are incredibly thrilled to have Salman Khan has partnered with us for Salman Khan static NFTs since it denotes that we are on the right track," said Atul Agnihotri, co-founder of BollyCoin, said in a statement.

 
The platform--which has partnered with film houses like Salman Khan Films, Arbaaz Khan, Sohail Khan Production and Reel Life Productions--promises the fans the possibility of allowing fans to invest in clips and stills, iconic dialogues, unseen footage, posters, and social media content and merchandise from their favorite stars and films.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-kim-kardashians-daughter-north-has-some-really-mean-things-to-say-about-her-watch-420391" hreflang="en">Kim Kardashian's daughter North has some really mean things to say about her: Watch</a>

 
At the moment, there are 19,125,766 BollyCoins, each priced at 0.1 dollars are available to be purchased in the first round from a total supply of &nbsp;100,000,000 coins.&nbsp;

 
BollyCoin can be bought using USDC or BUSD for now, but USDT and Eth will also be added to the available options in a short while, reports claim.&nbsp;

 
"We are delighted to be associated with a forward-thinking platform like BollyCoin. We think that NFTs will give the audience an exciting new way to experience our films and we are eager for the world to see what’s in store," a spokesperson from Salman Khan Films said.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-lupin-star-omar-sy-signs-multi-year-netflix-deal-420332" hreflang="en">'Lupin' star Omar Sy signs multi-year Netflix deal</a>

Actor-producer Arbaaz Khan said that in 'different ways our films can extend their legacies and for the fans to have a new way to interact with them'.

Bollywood superstar Salman Khan has confirmed that he will be part of the platform with Salman Khan Static NFTs. The platform notably aims to be the largest Bollywood-centric NFT marketplace in the world, reports claim.

Bollywood superstar Salman Khan has confirmed that he will be part of the platform with Salman Khan Static NFTs. The platform notably aims to be the largest Bollywood-centric NFT marketplace in the world, reports claim. Interestingly, Salman Khan becomes one of the first big names from Bollywood to commit to entering the Indian NFT space with BollyCoin, a platform started by producer-director Atul Agnihotri (Salman Khan's brother-in-law). Also read: Srikanth, veteran Indian actor, dies at 82: Rajinikanth pay tribute "Aa raha hu main NFTs lekar", Salman Khan tweeted. Aa raha hoon main, NFTs leke. Salman Khan Static NFTs coming on @bollycoin. Stay tuned, bhai log! https://t.co/auNNbccZJX 🌟#BollyCoin #NFTs #ComingSoon pic.twitter.com/u8ZWUSwuq0 — Salman Khan (@BeingSalmanKhan) October 13, 2021 × "Whenever we talk about blockchain or investment, there’s always this feeling of uncertainty we feel because most of us don’t know much about stocks, cryptocurrencies, or any other form of digital assets. We know about famous Bollywood movie dialogues, songs, and hook steps of popular dance numbers. With BollyCoin, we have tried to find that perfect balance between investments, NFTs, digital assets, and creative content consumption. We are incredibly thrilled to have Salman Khan has partnered with us for Salman Khan static NFTs since it denotes that we are on the right track," said Atul Agnihotri, co-founder of BollyCoin, said in a statement. The platform--which has partnered with film houses like Salman Khan Films, Arbaaz Khan, Sohail Khan Production and Reel Life Productions--promises the fans the possibility of allowing fans to invest in clips and stills, iconic dialogues, unseen footage, posters, and social media content and merchandise from their favorite stars and films. Also read: Kim Kardashian's daughter North has some really mean things to say about her: Watch At the moment, there are 19,125,766 BollyCoins, each priced at 0.1 dollars are available to be purchased in the first round from a total supply of 100,000,000 coins. BollyCoin can be bought using USDC or BUSD for now, but USDT and Eth will also be added to the available options in a short while, reports claim. "We are delighted to be associated with a forward-thinking platform like BollyCoin. We think that NFTs will give the audience an exciting new way to experience our films and we are eager for the world to see what’s in store," a spokesperson from Salman Khan Films said. Also read: 'Lupin' star Omar Sy signs multi-year Netflix deal Actor-producer Arbaaz Khan said that in 'different ways our films can extend their legacies and for the fans to have a new way to interact with them'.

Salman Khan, Bollywood superstar, one of the first Indian celebs to enter NFT

Is this the future of entertainment? A new NFT, one-of-a-kind crypto asset that enables collectors to authenticate, own and trade original versions of special digital goods using blockchain technology has launched a platform called Vuele which is a unique distribution and viewing streamer.&nbsp;

Vuele just launched trailer for its first-ever film ‘Zero Contact’ that stars Anthony Hopkins and was produced in 17 different countries. This was all done virtually during the pandemic. The story follows five characters based all over the world, connected only by their devotion to the late founder and tech titan Finley Hart (Hopkins). They are forced to work together to shut down Hart’s most secret invention, a machine that is either the solution to mankind’s problems or the end of life on earth.&nbsp;

Interestingly, the trailer launched a Golden Ticket sweepstakes with which you can view the trailer and subsequently the film. These sweepstakes include a variety of digital assets developed by CurrencyWorks. The Vuele Golden Ticket is the official access pass to the first four “wide release” film NFTs that will be available on the platform.

100 tickets are being randomly distributed to Vuele members each week throughout September.&nbsp;

<h2><a href="https://www.wionews.com/science/older-than-stonehenge-and-pyramids-of-giza-camel-carvings-in-saudi-arabia-date-back-8000-years-413296" hreflang="en">Older than Stonehenge and Pyramids of Giza? Camel carvings in Saudi Arabia date back 8,000 years</a></h2>

“Our platform is designed to offer something to high-end collectors as well as the everyday film fan,” said director/producer and Vuele co-founder Rick Dugdale in a statement. “The Zero Contact Golden Ticket offers fans an opportunity to explore this NFT world and start building their digital wallet to get comfortable watching and owning movies on this new platform. As the NFT market is driven by scarcity, we are offering a ‘1 of 1’ NFT for the film. There will only ever be one minted of its kind.”

<h2><a href="https://www.wionews.com/science/important-milestone-new-species-of-jurassic-age-hybodont-shark-discovered-from-indian-state-rajasthan-413307" hreflang="en">'Important milestone': New species of Jurassic-age Hybodont Shark discovered from Indian state Rajasthan</a></h2>

Meanwhile, those who follow NFT news would know that the most expensive NFT ever sold was by a digital artist named Mike "Beeple" Winkelmann's. His piece of work, &nbsp;Everydays: The First 5000 Days, sold for a record-breaking price at Christie's first-ever digital art auction on March 11, marking the first time a major auction house has sold a purely digital NFT.

Is this the future of entertainment? A new NFT, one-of-a-kind crypto asset that enables collectors to authenticate, own and trade original versions of special digital goods using blockchain technology has launched a platform called Vuele which is a unique distribution and viewing streamer.

Is this the future of entertainment? A new NFT, one-of-a-kind crypto asset that enables collectors to authenticate, own and trade original versions of special digital goods using blockchain technology has launched a platform called Vuele which is a unique distribution and viewing streamer. Vuele just launched trailer for its first-ever film ‘Zero Contact’ that stars Anthony Hopkins and was produced in 17 different countries. This was all done virtually during the pandemic. The story follows five characters based all over the world, connected only by their devotion to the late founder and tech titan Finley Hart (Hopkins). They are forced to work together to shut down Hart’s most secret invention, a machine that is either the solution to mankind’s problems or the end of life on earth. Interestingly, the trailer launched a Golden Ticket sweepstakes with which you can view the trailer and subsequently the film. These sweepstakes include a variety of digital assets developed by CurrencyWorks. The Vuele Golden Ticket is the official access pass to the first four “wide release” film NFTs that will be available on the platform. 100 tickets are being randomly distributed to Vuele members each week throughout September. Older than Stonehenge and Pyramids of Giza? Camel carvings in Saudi Arabia date back 8,000 years “Our platform is designed to offer something to high-end collectors as well as the everyday film fan,” said director/producer and Vuele co-founder Rick Dugdale in a statement. “The Zero Contact Golden Ticket offers fans an opportunity to explore this NFT world and start building their digital wallet to get comfortable watching and owning movies on this new platform. As the NFT market is driven by scarcity, we are offering a ‘1 of 1’ NFT for the film. There will only ever be one minted of its kind.” 'Important milestone': New species of Jurassic-age Hybodont Shark discovered from Indian state Rajasthan Meanwhile, those who follow NFT news would know that the most expensive NFT ever sold was by a digital artist named Mike "Beeple" Winkelmann's. His piece of work, Everydays: The First 5000 Days, sold for a record-breaking price at Christie's first-ever digital art auction on March 11, marking the first time a major auction house has sold a purely digital NFT.

Future of cinema? 'Zero Contact' starring Anthony Hopkins to release on NFT platform Vuele

<div>
<div>There's a new way for people to get good luck charms of karmic fortune, a colourful collage featuring the face of a revered Thai monk, all available digitally.</div>

Recently, non-fungible tokens (NFTs) have been booming in the art world, from popular internet memes to original art. In major auction houses, some NFTs fetch millions.

Also read |&nbsp;<a href="https://www.wionews.com/world/sothebys-sells-first-nft-that-sparked-a-craze-389642">Sotheby's sells first NFT that sparked a craze</a>

Taking advantage of this latest fad, Ekkaphong&nbsp;Khemthong&nbsp;launched these "CryptoAmulets". Thailand has a wide market for talismans, with many people collecting them.&nbsp;

Khemthong an amulet collector himself, says that he has been searching for ways of introducing amulets to foreigners and the world.

It's a common pastime in Buddhist-majority Thailand to collect amulets and other small religious trinkets, and Bangkok has a market that exclusively caters to those who sell these lucky items.

A well-respected monk can bless them, increasing their value by thousands of dollars.

Also read |&nbsp;<a href="https://www.wionews.com/world/edward-snowdens-nft-artwork-sells-for-over-54-mn-378159">Edward Snowden's NFT artwork sells for over $5.4 mn</a>&nbsp;

Even though CryptoAmulets are digital, Eckapong wanted them to be blessed like a physical talisman, which is why he contacted a highly respected abbot in northern Thailand named Luang Pu Heng.&nbsp;

In recent years, the monk has emerged as a symbol of success in business, and he is a symbol of respect and the world would do well to know of him, says Ekkapong.

The amulets, which display a serene image of his face, were blessed by Luang Pu Heng at a ceremony last month.&nbsp;

The 95-year-old monk doesn't really understand the concept of NFTs. Daye Chan, a Singaporean developer says that it was a challenge explaining the concept to the monk. They had to tell the monk that it is just like blessing photos.

Additionally, crypto art eliminates the usual doubts of authenticity surrounding talismans sold in markets, he said.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/tim-berners-lees-nft-of-world-wide-web-source-code-sold-for-54-million-395074">Tim Berners-Lee’s NFT of World Wide Web source code sold for $5.4 million</a>

All the records could be lost and these physical items could be easily forged, says Chan, whereas in the case of the digital amulet, people can still access the records a century later.

In NFTs, transactions are recorded from the moment they are created on a digital ledger called the blockchain.&nbsp;

On the CryptoAmulets website pictures of amulets can be seen, with each token, having different inscriptions like "lucky", "rich" or "fortunate", written in Thai.&nbsp;

These coins are priced in ethereum, the world's second-largest cryptocurrency after bitcoin, where they are currently trading for between $46 and $1,840.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/artist-paks-creations-fetch-168-million-in-first-nft-sale-at-sothebys-377689">Artist Pak's creations fetch $16.8 million in first NFT sale at Sotheby's</a>

However, in the wake of Sunday's deadline to purchase tokens, only 1,500 out of 8,000 have been sold, and most token buyers were Thais.

(With inputs from agencies)
</div>

There's a new way for people to get good luck charms of karmic fortune, a colourful collage featuring the face of a revered Thai monk, all available digitally. Recently, non-fungible tokens (NFTs) have been booming in the art world, from popular internet memes to original art.

There's a new way for people to get good luck charms of karmic fortune, a colourful collage featuring the face of a revered Thai monk, all available digitally. Recently, non-fungible tokens (NFTs) have been booming in the art world, from popular internet memes to original art. In major auction houses, some NFTs fetch millions. Also read | Sotheby's sells first NFT that sparked a craze Taking advantage of this latest fad, Ekkaphong Khemthong launched these "CryptoAmulets". Thailand has a wide market for talismans, with many people collecting them. Khemthong an amulet collector himself, says that he has been searching for ways of introducing amulets to foreigners and the world. It's a common pastime in Buddhist-majority Thailand to collect amulets and other small religious trinkets, and Bangkok has a market that exclusively caters to those who sell these lucky items. A well-respected monk can bless them, increasing their value by thousands of dollars. Also read | Edward Snowden's NFT artwork sells for over $5.4 mn Even though CryptoAmulets are digital, Eckapong wanted them to be blessed like a physical talisman, which is why he contacted a highly respected abbot in northern Thailand named Luang Pu Heng. In recent years, the monk has emerged as a symbol of success in business, and he is a symbol of respect and the world would do well to know of him, says Ekkapong. The amulets, which display a serene image of his face, were blessed by Luang Pu Heng at a ceremony last month. The 95-year-old monk doesn't really understand the concept of NFTs. Daye Chan, a Singaporean developer says that it was a challenge explaining the concept to the monk. They had to tell the monk that it is just like blessing photos. Additionally, crypto art eliminates the usual doubts of authenticity surrounding talismans sold in markets, he said. Also read | Tim Berners-Lee’s NFT of World Wide Web source code sold for $5.4 million All the records could be lost and these physical items could be easily forged, says Chan, whereas in the case of the digital amulet, people can still access the records a century later. In NFTs, transactions are recorded from the moment they are created on a digital ledger called the blockchain. On the CryptoAmulets website pictures of amulets can be seen, with each token, having different inscriptions like "lucky", "rich" or "fortunate", written in Thai. These coins are priced in ethereum, the world's second-largest cryptocurrency after bitcoin, where they are currently trading for between $46 and $1,840. Also read | Artist Pak's creations fetch $16.8 million in first NFT sale at Sotheby's However, in the wake of Sunday's deadline to purchase tokens, only 1,500 out of 8,000 have been sold, and most token buyers were Thais. (With inputs from agencies)

Thailand enters the NFT market with 'CryptoAmulets'

The first non-fungible token (NFT) ever created,&nbsp;the origin of a craze that is sweeping the art market,&nbsp;has gone on sale at Sotheby's.

"Quantum" is an octagon-shaped animation by New York artist Kevin McCoy.

Also Read |&nbsp;<a href="https://www.wionews.com/world/artist-paks-creations-fetch-168-million-in-first-nft-sale-at-sothebys-377689">Artist Pak's creations fetch $16.8 million in first NFT sale at Sotheby's</a>

It became the first work to be associated with an NFT-type certificate of ownership in May 2014, three years before the term NFT was coined.

An NFT is a digital object such as a drawing, animation, piece of music, photo, or video with a certificate of authenticity created by blockchain technology. &nbsp;It cannot be forged or otherwise manipulated.

Also Read |&nbsp;<a href="https://www.wionews.com/world/edward-snowdens-nft-artwork-sells-for-over-54-mn-378159">Edward Snowden's NFT artwork sells for over $5.4 mn</a>&nbsp;

Sotheby's has no pre-sale estimate for "Quantum", which had already reached $140,000 on Friday, a day after it went on sale. The sale ends on June 10.

"In 10 years looking back, if in fact these are to grow, this piece can represent and symbolize the start of something that is quite revolutionary and very impactful," said Max Moore, vice president of contemporary art at Sotheby's in New York.

Also Read |&nbsp;<a href="https://www.wionews.com/technology/twitter-ceo-jack-dorseys-first-tweet-sold-for-29-million-as-nft-372474">Twitter CEO Jack Dorsey's first Tweet sold for $2.9 million as NFT</a>

NFT exchanges happen in cryptocurrencies such as Bitcoin on specialist sites. Traditional auction houses are seeking to capitalize on the new phenomenon.

"I fell in love with Bitcoin in early 2013 and just got really interested in that world," said McCoy, a 54-year-old multimedia artist.

Also Read |&nbsp;<a href="https://www.wionews.com/technology/nfts-are-neither-miracles-nor-scams-374760">NFTs are neither miracles nor scams</a>

He is a pioneer of NFTs that currently generate several hundred million dollars in transactions every month.

McCoy even helped design his own platform for the exchange of certified digital objects: Monograph, which is no longer active.

"There was a lot of misunderstanding at the time," McCoy recalled, saying the mainstream art world struggled to understand the cryptocurrency world, which had itself had little appreciation of art.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/nft-digital-artwork-by-humanoid-robot-sophia-to-go-on-auction-in-a-worlds-first-372309/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

He says the craze is only just beginning but refuses to consider how huge it may become.

"The Sotheby's thing is... a big test to see what happens as far as that goes. Honestly, I don't have any expectations," McCoy added.

Also Read |&nbsp;<a href="https://www.wionews.com/world/bid-for-first-tweet-of-twitter-co-founder-jack-dorsey-reaches-usd-25-million-368677">Bid for first tweet of Twitter co-founder Jack Dorsey reaches USD 2.5 million</a>&nbsp;

The NFT boom is being fueled by&nbsp;early investors in cryptocurrencies who became millionaires.

In March, Christie's sold an NFT for $69.3 million.

Sotheby's &nbsp;held its first NFT auction in April. During the "Quantum" sale it is also selling a virtual character called Alice who will be able to interact with her future owner using artificial intelligence.

The first non-fungible token (NFT) ever created, the origin of a craze that is sweeping the art market, has gone on sale at Sotheby's. "Quantum" is an octagon-shaped animation by New York artist Kevin McCoy.

The first non-fungible token (NFT) ever created, the origin of a craze that is sweeping the art market, has gone on sale at Sotheby's. "Quantum" is an octagon-shaped animation by New York artist Kevin McCoy. Also Read | Artist Pak's creations fetch $16.8 million in first NFT sale at Sotheby's It became the first work to be associated with an NFT-type certificate of ownership in May 2014, three years before the term NFT was coined. An NFT is a digital object such as a drawing, animation, piece of music, photo, or video with a certificate of authenticity created by blockchain technology. It cannot be forged or otherwise manipulated. Also Read | Edward Snowden's NFT artwork sells for over $5.4 mn Sotheby's has no pre-sale estimate for "Quantum", which had already reached $140,000 on Friday, a day after it went on sale. The sale ends on June 10. "In 10 years looking back, if in fact these are to grow, this piece can represent and symbolize the start of something that is quite revolutionary and very impactful," said Max Moore, vice president of contemporary art at Sotheby's in New York. Also Read | Twitter CEO Jack Dorsey's first Tweet sold for $2.9 million as NFT NFT exchanges happen in cryptocurrencies such as Bitcoin on specialist sites. Traditional auction houses are seeking to capitalize on the new phenomenon. "I fell in love with Bitcoin in early 2013 and just got really interested in that world," said McCoy, a 54-year-old multimedia artist. Also Read | NFTs are neither miracles nor scams He is a pioneer of NFTs that currently generate several hundred million dollars in transactions every month. McCoy even helped design his own platform for the exchange of certified digital objects: Monograph, which is no longer active. "There was a lot of misunderstanding at the time," McCoy recalled, saying the mainstream art world struggled to understand the cryptocurrency world, which had itself had little appreciation of art. He says the craze is only just beginning but refuses to consider how huge it may become. "The Sotheby's thing is... a big test to see what happens as far as that goes. Honestly, I don't have any expectations," McCoy added. Also Read | Bid for first tweet of Twitter co-founder Jack Dorsey reaches USD 2.5 million The NFT boom is being fueled by early investors in cryptocurrencies who became millionaires. In March, Christie's sold an NFT for $69.3 million. Sotheby's held its first NFT auction in April. During the "Quantum" sale it is also selling a virtual character called Alice who will be able to interact with her future owner using artificial intelligence.

Sotheby's sells first NFT that sparked a craze

Sotheby's hosted its first sale of art supported by NFTs, the trendy authentication technology, by artist Pak, with the works bringing in $16.8 million, the auction house said Wednesday.

Sotheby's foray into&nbsp;NFT&nbsp;selling comes just a little more than one month after the sale of the&nbsp;NFT&nbsp;of the work "Everydays: The First 5,000 Days" by digital artist Beeple for $69.3 million at rival Christie's.

NFT&nbsp;stands for non-fungible token, an authentication certificate meant to ensure that ownership of digital work,&nbsp;animations, videos, photos or music, for example, cannot be forged or otherwise manipulated.

Sotheby's first&nbsp;NFT&nbsp;sale featured an entirely different format than the video sale hosted by Christie's.

An unlimited number of animated illustration files created by Pak, called "Cube," were listed on the specialised platform Nifty Gateway as part of "The Fungible" collection.

Some 23,598 of these animations,&nbsp;which rotate to appear to show a 360-degree view of a translucent and white cube on a black background, were purchased over a three-day period beginning Monday for a total of $14 million.&nbsp;

The artist wanted to question ideas of value and rarity by not limiting sales of the cube art files, and according to Sotheby's some 3,080 collectors have already purchased their own versions.&nbsp;

Pak also sold two unique works, including one made up by a single pixel, which was bought for $1.36 million by digital collector Eric Young. The other was another rotating geometric shape which sold for $1.44 million.&nbsp;

The person who purchased the most of the unlimited "Cube" works would also receive ownership of a unique piece called "The Cube",&nbsp;a more detailed animated illustration of a rotating six-sided shape,&nbsp;as a bonus.

The sales offer a peek into the strength of the&nbsp;NFT&nbsp;market, which generates more than $10 million worth of sales every day on digital platforms such as Nifty Gateway or OpenSea.

According to the site NonFungible.com, $2 billion has already changed hands through the&nbsp;NFT&nbsp;market in the first part of 2021 alone.&nbsp;

(With inputs from agencies)

Sotheby's hosted its first sale of art supported by NFTs, the trendy authentication technology, by artist Pak, with the works bringing in $16.8 million, the auction house said Wednesday.

Sotheby's hosted its first sale of art supported by NFTs, the trendy authentication technology, by artist Pak, with the works bringing in $16.8 million, the auction house said Wednesday. Sotheby's foray into NFT selling comes just a little more than one month after the sale of the NFT of the work "Everydays: The First 5,000 Days" by digital artist Beeple for $69.3 million at rival Christie's. NFT stands for non-fungible token, an authentication certificate meant to ensure that ownership of digital work, animations, videos, photos or music, for example, cannot be forged or otherwise manipulated. Sotheby's first NFT sale featured an entirely different format than the video sale hosted by Christie's. An unlimited number of animated illustration files created by Pak, called "Cube," were listed on the specialised platform Nifty Gateway as part of "The Fungible" collection. Some 23,598 of these animations, which rotate to appear to show a 360-degree view of a translucent and white cube on a black background, were purchased over a three-day period beginning Monday for a total of $14 million. The artist wanted to question ideas of value and rarity by not limiting sales of the cube art files, and according to Sotheby's some 3,080 collectors have already purchased their own versions. Pak also sold two unique works, including one made up by a single pixel, which was bought for $1.36 million by digital collector Eric Young. The other was another rotating geometric shape which sold for $1.44 million. The person who purchased the most of the unlimited "Cube" works would also receive ownership of a unique piece called "The Cube", a more detailed animated illustration of a rotating six-sided shape, as a bonus. The sales offer a peek into the strength of the NFT market, which generates more than $10 million worth of sales every day on digital platforms such as Nifty Gateway or OpenSea. According to the site NonFungible.com, $2 billion has already changed hands through the NFT market in the first part of 2021 alone. (With inputs from agencies)

Artist Pak's creations fetch $16.8 million in first NFT sale at Sotheby's

Dragging and pressing a paint brush, Sophia the Robot is creating her latest artwork. The robot artist, who will see her first piece of art go up for auction on Wednesday (March 24), says she draws inspiration for her work from people and is open to future creative partnerships with humans.

NFT digital artwork by humanoid robot Sophia to go on auction in a world's first

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