There are countless types of non-fungible tokens, or NFTs. As long as an item is considered collectible, it can become an NFT. In the market, NFTs can generally be divided into two broad categories: digital art and games. This article discusses NFT digital art and its practical market value.
NFT-Encrypted Artwork: EVERYDAYS: THE FIRST 5000 DAYS
When discussing NFT artwork, Beeple’s EVERYDAYS: THE FIRST 5000 DAYS is essential. It sold at Christie’s for USD 69.35 million and was paid for with cryptocurrency.
The winning bidder received a JPG image of EVERYDAYS: THE FIRST 5000 DAYS and an NFT containing the work’s metadata, signature and ownership history. Christie’s also transferred the NFT representing ownership of the work to the bidder’s cryptocurrency account.
Beeple’s previous works had rarely sold for more than USD 100, yet within 15 days, EVERYDAYS: THE FIRST 5000 DAYS sold for nearly USD 70 million. Through this NFT transaction, Beeple became one of the world’s highest-valued living artists.
Roswell Alien Autopsy Film Auctioned as an NFT
Whether aliens truly exist remains highly controversial. Film footage of the 1947 Roswell alien autopsy was recently auctioned as an NFT on Rarible, with a starting price of USD 1 million. The winning buyer would receive not only the NFT, but also the physical film. The owner, British entrepreneur Ray Santilli, claimed this NFT could become one of the most valuable digital artworks.
Emerging NFT Artwork: HashMasks
HashMasks is not an ordinary painting. It is a set of portrait artworks created through user combinations, and owners can use NCT tokens issued by HashMasks to name their characters.
HashMasks issued 16,384 NFTs. Each character consists of five different elements, including mask, eye color, object, background style and skin color. Each element is limited, and rarity creates different value for each work.
HashMasks launched its NFT project at the beginning of the year and set lower costs for earlier buyers. One interesting point is that it uses a mystery-box model: buyers do not know what their NFT image looks like when they purchase it. They only discover the true appearance after the NFTs have sold out.
NCT tokens issued by HashMasks are used to name or rename NFTs. The total supply is 27,327,298 tokens, and NCT paid for naming is destroyed and removed from circulation.
The next article will introduce more famous NFT digital artworks and show how intense the NFT boom can become.
Translation supported by AI.