Cryptoapes, Cryptokitties, Beeple – according to Collins Dictionary, NFT was the word of the year for 2021. The popularity of non-fungible tokens exploded during the course of last year, with celebrities such as Eminem and Melania Trump having jumped on the bandwagon, the total market cap was estimated to be in excess of $40 billion according to data from blockchain analytics firm Chainalysis Inc.
The founding of NFTs is inextricable from the art world; almost a decade ago, the first NFT was minted. New York-based digital artist Kevin McCoy created Quantum, a pixelated, radiating octagon, was minted on the Namecoin blockchain. The artwork was sold by major arthouse Sotheby’s through their Natively Digital online auction, and fetched just over $1.4 million last year.
Competitor Christie’s sold over $150 million worth of NFT artwork during the last year, Everydays – The First 5000 Days by artist Beeple being sold for a record-breaking $69 million, positioning him amongst the “top three most valuable living artists”, said the auction house. We examine the history, possibilities, and some of the African players in the NFT space.
THE GOOD, THE BAD, AND THE INTANGIBLE
Denne historien er fra April - May 2022-utgaven av Forbes Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April - May 2022-utgaven av Forbes Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
TRACK, WATCH, BEFRIEND
IN THE PRISTINE WILDERNESS OF GABON ARE THE MAJESTIC AND GENTLE WESTERN LOWLAND GORILLAS. A FIRSTHAND REPORT FROM OUR TRAVEL WRITER ON WHAT GOES INTO HABITUATING THEM.
CHALLENGING BUT NECESSARY: THE AI BALANCING PROBLEM
Artificial intelligence (AI) continues transforming many industries, providing unprecedented opportunities for innovation and efficiency. However, these advancements bring complex challenges that necessitate a delicate balancing act.
BEYOND ACADEMIA: THE SOCIETAL IMPACT OF MULTILATERAL EDUCATIONAL COLLABORATIONS
The great poet William Butler Yeats once said, \"Education is not the filling of a pail, but the lighting of a fire.\"
The Business Of Dance: Embracing One's Individuality And Style
In the dynamic world of street dance, passion and perseverance pave the way for success. Living out this ethos is South African born B-girl turned businesswoman, Courtnaé Paul.
COMPASSION FATIGUE: THE DANGEROUS DESCENT FROM HELPING TO HURTING
It is a workplace reality that caring too much for your colleagues can hurt you.
IT HAS NEVER BEEN MORE CRITICAL TO FIND OUR NICHE
Have you found your niche? I received a lot of advice when I set up my company, but perhaps the most important consisted of just three words: Find Your Niche.
HOW TO MAKE AFRICA WIN OFF THE FIELD TOO
When all else fails, try sports. It's good for the soul.
BEAN THERE, DONE THAT
British author Roald Dahl tapped into every chocoholic's imagination when creating Willy Wonka's bizarre chocolate factory in his 1964 children's novel Charlie and the Chocolate Factory.
IT DOESN'T GET ANY BETTER THAN WORKING WITH AL PACINO ON BROADWAY'
Arnold Vosloo Actor
BLENDED FINANCE: BRIDGING THE GAP IN EMERGING MARKETS IN SUPPORT OF THE SDGS
Amid the widespread global support for the United Nations' Sustainable Development Goals (SDGs), there was an underlying concern among economists and financial advisors in the emerging and frontier markets: public sector and donor funds were stalled, if not regressing, and the funding gap to realize the SDGs was increasing.
