Skip to main content

Bargain? World Wide Web’s source code NFT sells for $5.4M at Sotheby’s

The source code for the World Wide Web has been sold by the inventor for $5.4 million.

The inventor of the World Wide Web, Sir Tim Berners-Lee, has sold an NFT of the web's source code for $5.4 million at fine art auction house Sotheby’s.

The piece titled ‘This Changed Everything’ includes a time-stamped file of the source code's 9,555 lines, a high-fidelity image, a 30-minute animation of the code being written, along with a letter written by Berners-Lee.

While $5.4M is a significant sum, it’s a far cry from the $69 million record set in March for Beeple’s Everydays and less than some observers had predicted. Delphi Digital’s Piers Kicks said he’d been expecting a sale around $10M, noting:

According to Berners-Lee, he and his wife will donate the proceeds of the auction to causes supported by the family.

In a statement to the press released by Sotheby’s, Berners-Lee discussed the future of the internet and expressed his hope that it would remain open to allow it to be a continual source of creativity, technical innovation, and social transformation. These ideals were the inspiration behind Berners-Lee move into the NFT space, he said:

“NFTs, be they artworks or digital artifacts like this, are the latest playful creations in this realm, and the most appropriate means of ownership that exists. They are the ideal way to package the origins behind the web.”

Related: Hype is over: How NFTs and art will benefit from each other moving forward

The high-profile auction of the web's source code isn’t the only multi-million dollar sale of a digital artwork hosted by a premier auction house this week. On June 30th, Christie’s Auction house closed a $2.1 million auction for the works of transgender digital art FEWOCiOUS.

The NFT “Hello, i’m Victor (FEWOCiOUS) and This Is My Life,” includes five individual pieces each depicting a year in the artist's formative years from ages 14 to 18 as he transitioned to male. The works illustrate the artist’s struggles with loneliness and identity as he strove to become an artist.

The trajectory of the young artist’s career is indicative of the upward mobility the digital market offers to digital artists. FEWOCiOUS made his first tokenized sale on the marketplace SuperRare for $6,000 in September of last year and was soon selling artworks valued at over $1 million on Nifty Gateway.

Data provided by Cryptoart.io shows that combined sales from the digital art markets have shrunk to $18.3 million in June from their peak of $205 million in March. Winklevoss-owned marketplace Nifty Gateway saw a 94% decline in sales from a peak of $145 million to $7.6 million.

Some digital asset platforms have prospered. Relative newcomer to the digital art space, hic et nunc, has seen sales grow 276% from $717,000 in March to $2.7 million in June, capturing capturing 14.7% of the market.

Source: cryptoart.io/data


from https://ift.tt/3Agvc4t
https://ift.tt/3dwFMKS
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

How to play and earn in CryptoKitties

CryptoKitties is a blockchain-based game where players can buy, sell and breed digital cats with unique attributes. Reminiscent of Tamagotchi and Pokémon, the wildly popular digital pets and creatures of the 1990s, CryptoKitties is a blockchain-based game where players can collect, trade and breed digital virtual cats. CryptoKitties was the first Ethereum-based game, and its popularity underscored many of the network’s scaling issues. This digital cat-breeding blockchain game caused quite a bit of congestion on the Ethereum blockchain, peaking in 2020. However, the game’s creators were able to address these issues. What is CryptoKitties? Launched in 2017, CryptoKitties was built by Dapper Labs, the company that uses blockchain technology to bring nonfungible tokens (NFTs) and new forms of digital engagement to fans around the world. CryptoKitties is also considered one of the world’s first-ever blockchain games. In the game, each one of the digital collectible cats possesses a
Post a Comment
Read more

Bitcoin dominance falls under 40%

While Bitcoin critics claim this means that BTC is losing its first-mover competitive advantage, others are anticipating the “altcoin season” is just around the corner, or might even be already underway. Bitcoin’s market dominance has continued to fall, bottoming out below 40% this week. That’s very close to the all-time low of 36.7% in Jan 2018 according to data from Tradingview. Bitcoin ( BTC ) market dominance refers to the ratio between BTC’s market cap and the total crypto market cap. It's not the first time dominance has dipped in 2021. Back in May, Cointelegraph reported that BTC had dipped to represent just 40.3% of the combined crypto asset capitalization, according to Coinmarketcap, and it neared the same level again in September.  Bitcoin critic and Europac chairman Peter Schiff tweeted about the event on Dec 29th, saying that it’s indicative that BTC is “losing its first-mover competitive advantage.” With over 16,000 alternative cryptos to choose from Bitcoin
Post a Comment
Read more

Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl
Post a Comment
Read more