![]() Katie Haun, a general partner at venture capital firm Andreessen Horowitz, told NPR: "It's everything that brings together culture, and it's also a bet on the future of e-commerce."ĭigital artist Beeple, who sold an NFT for $69 million last month, has celebrated them. Others have defended NFTs as a way of allowing artists to make money from their work. There are also concerns about whether NFTs are worth their price, leading some observers to dismiss the whole phenomenon as a pyramid scheme. Some single NFTs are said to have a carbon footprint equivalent to that of someone living in the EU for over a month. NFTs are certified using blockchain technology, which is notorious for requiring large amounts of computing power and electricity. However, many are concerned about the environmental impact. NFTs have increasingly been used to certify ownership of digital art in recent months, with some selling for millions of dollars. The announcement was met with resistance on Twitter amid wider criticism of the NFT phenomenon as a whole. It is currently unclear what the starting bid or asking price will be. The NFT will be available to buy on Foundation, an online NFT marketplace, on April 15. In this case, the owner of the Annoying Orange NFT will "own" that 4K remaster video. NFTs are essentially digital certificates that document ownership of some sort of digital asset. India Looks to Ban Crypto, Considers Seizing Digital Assets.Andrea Bonaceto and Robot Create First Digital AI Piece Being Sold as NFT.Ja Rule Enters Trendy NFT Art Market With Fyre Festival Painting.
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