Space Travel News  
INTERNET SPACE
Europe bids to join NFT art auction craze
By Fran�oise MICHEL
Brussels (AFP) May 20, 2021

Europe has joined the craze for NFTs, virtual art pieces inspired by cryptocurrencies that turn the impermanence of the internet into a prized collector's item to be bought and sold like a Rembrandt.

Drawing quizzical head-scratching by many, these digital objects authenticated by blockchain technology have drawn millions of dollars at auctions, with even the world's first tweet fetching $2.9 million.

In New York, Sotheby's hosted its first sale last month of non-fungible token art by artist Pak, with the works bringing in $16.8 million.

Before that, rival Christie's put the hammer down at $69.3 million for a work by digital artist Beeple, bought by an unassuming entrepreneur in Singapore working out of his apartment.

On Thursday, the Belgo-French auction house Millon will organise its very first sale of 13 NFT works while another auction house held an auction in France on Sunday.

"Buying an NFT means buying a digital token for which you have authenticity, the history of the work and the guarantee that it is unalterable on the blockchain... This is truly revolutionary in the art market," said Millon's expert Axel Reynes.

"Anyone can access the work, put it on a computer and display it, but they don't own it. Having a poster of the Mona Lisa in your living room does not give you ownership of the work, which belongs to the Louvre. The idea is the same," explained the 30-year-old.

On walls usually covered with paintings, the works put up for auction are displayed thanks to overhead projectors. Prices for limited and unique editions range from 400 to 20,000 euros.

The auction will feature confirmed NFT artists like Maikeul or Canada's Fvckrender as well as a street artist, Cesar Piette, who is branching out into the virtual world.

One piece, the Bitcoin Angel by artist Trevor Jones, makes the crypto link explicit and is estimated at between 3,000 and 5,000 euros.

- 'Early stages' -

The auction will take place in Brussels, not in Paris, due to the legal uncertainty surrounding the sale of the NFT there.

This new and very dynamic market is evolving in the wake of cryptocurrencies, with the price of the works fluctuating with the vicissitudes of bitcoin, dogecoin or ethereum.

Bitcoin plunged by 30 percent on Wednesday after China announced a new crackdown on the cryptocurrency and tycoon Elon Musk sent mixed signals about his company's use of the unit.

"We're still in the very early stages of NFTs, eventually I think we'll decouple from cryptocurrencies to have our own momentum," predicts the young expert.

But for now the link is real: Millon will even accept cryptocurrency as payment.


Related Links
Satellite-based Internet technologies


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


INTERNET SPACE
Germany opens antitrust probe into Amazon with tougher law
Berlin (AFP) May 18, 2021
Germany's competition authority said Tuesday it had opened an inquiry into online retail giant Amazon over potential "anti-competitive practices", using a new law giving regulators more power to rein in big tech companies. Federal Cartel Office head Andreas Mundt said his office is examining whether Amazon has "an almost unchallengeable position of economic power" and whether it "operates across various markets". If so, it would be deemed of "paramount significance", said Mundt, adding that the ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

INTERNET SPACE
INTERNET SPACE
Seeing NASA's Ingenuity Mars Helicopter Fly in 3D

Perseverance's Robotic Arm Starts Conducting Science

Perseverance rover captures sound of Ingenuity flying on Mars

Volcanoes on Mars could be active, raise possibility of recent habitable conditions

INTERNET SPACE
VIPER Hits the SLOPEs

Researchers create new lunar map to help guide future exploration missions

Measuring the Moon's nano dust is no small matter

Apollo 11 astronaut Michael Collins dead at 90

INTERNET SPACE
Juice arrives at ESA's technical heart

New Horizons reaches a rare space milestone

New research reveals secret to Jupiter's curious aurora activity

NASA's Europa Clipper builds hardware, moves toward assembly

INTERNET SPACE
Alien radioactive element prompts creation rethink

Coldplay beam new song into space in chat with French astronaut

How planets form controls elements essential for life

First ever discovery of methanol in a warm planet-forming disk

INTERNET SPACE
Bitcoin tumble slows with help from Elon Musk

First Ariane 6 fairing at Europe's Spaceport

SpaceX signs deal with Google Cloud for satellite broadband

3D printed RL10C-X engine demonstrates full mission capability during altitude hot fire test series

INTERNET SPACE
Tianzhou 2, carrier rocket transported to launchpad for liftoff

'Nihao Mars': China's Zhurong rover touches down on Red Planet

China wants to send spacecraft to edge of solar system to mark 100th year of PRC

China's space station takes shared future concept to space

INTERNET SPACE
NASA's OSIRIS-REx Spacecraft Heads for Earth with Asteroid Sample

US space probe Osiris-Rex heads home with asteroid dust

Lessons learnt from simulated strike

New View of Asteroid Ryugu's Surface









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.