It’s been another eventful day in the NFT community with new uses being brought to light and old artists learning new tricks. Here’s what happened Friday, October 8, 2021.
Wolfgang Beltracchi: Famed Forger Enters the NFT Space
In this Meta Masters Exclusive Article, learn about Wolfgang Beltracchi, a famous artist that earned his fame in a taboo way. Over the course of three decades, the artist made more than $35 million euros selling artworks he did as originals from artists like Da Vinci.
After being sentenced to six years in prison for his crimes, Beltracchi served just under four years and was released in 2015. Upon his release, he quickly found that art museums, galleries, and other traditional venues banned his works and refused to showcase and sell his art.
Looking for new opportunities, Beltracchi decided to enter the world of NFTs, bringing his unique artistic touch to the digital community and finally using his talents for good.
NFT Rentals May Become the Next Hot Trend
The article explores a concept known as ReNFT, which acts as a protocol layer allowing for ERC-721 tokens to be rented out on a peer-to-peer basis. At first, you may think, “who wants to rent digital art? Can’t I just check out the picture on OpenSea?”
Well, that’s not exactly the case.
NFTs aren’t just pieces of digital art. They often act as keys that unlock access to exclusive content and events. By giving owners the ability to rent their NFTs out, the owner of the art will earn money from rentals while the rental will have short-term access to all exclusive content and events associated with the art.
Not only is this exciting for the NFT community, the investing community is jumping in head first with venture capitalists backing the project with big bucks.
Frank Miller’s ‘Sin City’ Sells for Record $840k
Earlier today, the Hollywood Reporter published this story surrounding an NFT created by Frank Miller. The NFT, named Sin City, sold for a whopping $840,000. Frank Miller is no amatuer artist. His stamp can be found on big names like “The Dark Knight Rises” and “Sin City” in the comic world.
Now, Miller is jumping into a new form of media, and doing so with a splash.
The 24-hour auction quickly became a three-way bidding war with bids jumping from $435,000 to $591,000. As the day commenced, the last major jump brought the NFT to its selling price, jumping from $800,000 to $840,986.16, where the auction closed and the ownership of the art was transferred.
With the help of one NFT marketplace, patients may be able to share data with their providers securely
When it comes to NFTs, you often hear about their utility as ways to securely store and transfer data, the ability to use them in gaming and reward programs, and more. However, according to this article on CoinTelegraph, one NFT marketplace is taking the utility of non-fungible tokens to the next level.
Aimedis is planning on launching the world’s first medical and scientific NFT, one that’s aimed at giving patients a more secure way to share data with their healthcare providers.
Moreover, through the platform, patients will be able to provide anonymized data that will be stored on the blockchain. From there, institutions, researchers, and other parties can pay to access the data for online trials.
NFTs offer a new way for society to “store culture” says Animoca Brands CEO
Finally, in this post on UK Today News, Animoca Brands CEO Yat Siu, was quoted as saying:
“We describe NFTs as stores of culture, because they embody a moment in history,” he said, adding: “What is art? Art stores culture.”
The article outlines the idea that art is one of the best stores of culture in today’s society and that NFTs are bringing art and culture storage to the next level. The article also outlines how newcomers to the NFT space should make their first purchases for love of the art and love of the culture, rather than as a way to make immediate profits.
The Bottom Line
The bottom line is that news in the NFT space is happening every day as is to be expected with a quickly evolving industry. Come back Monday for the latest and greatest non-fungible stories!