Bitcoin Forum

Art on the blockchain is booming, Christie's first NFT art auction skyrockets from $100 to top $13 million



https://finance.yahoo.com/news/christies-first-nft-art-auction-skyrockets-from-100-to-top-13-million-205146239.html

I just don't get it

It ended up 69 Mil   Coincidence ?   man this had BTC billionaire written all over it.  Just as Bitcoin was a gamechanger so is digital art now.   

https://www.nytimes.com/2021/03/11/arts/design/nft-auction-christies-beeple.html?smid=tw-nytimes&smtyp=cur

That’s a huge profit and NFT are indeed growing. This is a great opportunity for a serious artist who wants to monetize their art. If you’re planning to start doing this, you’d better come up to the most unique art so people will appreciate it. Finally, NFT are starting to make a huge noise in the market, and the value of the sold art is pretty unbelievable, I’m looking forward to sell some art too.  :D

I think this is very dangerous as not every digital art thing is going to sell in the millions.

Not sure how much it costs to list these art pieces (I think around $100) but there are going to be a lot of disappointed people.

But then again as screwed up as the world is today I am probably going to be wrong.

Just as in the art industry, they're expensive if the art came from a renowned guy. And with all of these NFTS in the community being sold at a huge price, they really are intriguing yet amazing. I wouldn't have one but I just love to see how it will progress. The guy who paid that expensive NFT is Justin Sun.
(https://markets.businessinsider.com/currencies/news/crypto-whiz-kid-justin-sun-buys-nft-warren-buffett-christies-2021-3-1030175330)

I dont get it either, I seen this earlier today that is just insane.  I know art and all is subject but this has gone cemetery bonkers.  How much money do you have where you can spend $69million on what basically is a worthless jpeg file lol.  Not trying to demean the art but I can see this come crashing down and become comical.

Welcome to the world of internet art and money combined!  ;D

There are a lot of new crypto zillionaires out there due to Defi and what not.... I think it's more about "I got bigger balls/sacks of ETH than you do" sorta thing too tho at the same time...

I guess time will tell but yeah it could end up really bad ofc, who knows.  https://www.coindesk.com/hacker-selling-cybersecurity-exploit-nft

I think there is still a huge amount of space to grow in some of the more interesting Defi/NFT projects out there though at this point. People have to adapt, it's life... :D

https://www.businessinsider.com/nft-artists-make-millions-traditional-galleries-adapt-cryptoart-2021-3

very interesting. i don't get it why people want to bid big amount of money for a digital art. but the growing nft market is the goal of this hype, so let's see how it will run till the end. if this trend still happening for more than one year, i am sure this is the future of art. otherwise, it's just a nft pump.

Aside from hype. There are real people who valued art that much like is some kind of sophisticated interest even money can't interfere. The nft business is an improve art that people used as a get way to create more demands and profits. Nobody expected that this will be a truly booming area of expertise connecting to blockchain. Nft pump or not, the market now is heavily attracting dozen of art enthusiast to even try out the nft blockchain thing.

In my part, I don't really know the main reason why people are just buying these arts. Maybe the reason is they are a collector and they just want to collect digital arts. Another one is they want to flip it in the future by buying it now and will sell in the future.

Whatever the reason are, the market is booming right now and there are some people who are willing to spend many dollars just to have these digital arts. I'm thinking right now of creating a simple digital art in Photoshop and then will post it on Beeple since anybody can create their own art in their own way right. :D JK

It is similar to the defi hype in the 2020 period, the big possibility is that next time the trend of projects will focus on developing the NFT array, I still do not feel what it is worth. Exaggerated, still need time to see this development trend, this market really has too many ways to attract new investment money.

Can do actually. Not sure this beeple platform? Is this some sort of digital conversion or services that make digital copies becomes nft? Cause being an nft means it has its own smart contract like those of erc20 tokens however their code is based on infugible tokens called nft. If the Beeple works like that then good for you, cause you might be able to create one that can be sold at higher price of course rarity is a plus factor there.

Another shitty thing that i missed and not earned money on it

 8) I can't blame you. Me neither. To me, this is just another way saying: "Hey I can afford to waste $13 million on whatever I want and you can't!"

The central banks printed so much money, lots of people acquired the wealth they shouldn't have and now they are spending it carelessly.

Easy come easy go.

you knew it had to be someone like that lol

  I get it too, remember when so many were saying why buy BTC?  you cant hold it/ touch it how does it have value??  Its the same thing, if anything Justin is proving that point. Its just that now its in the form of art. We place value on rarity and this art is unique. By comparison a guy bought a postage stamp ( I think this was a month or tow ago) for $9.5 million.  Its one he had been looking for since he was 15 or so. But its just a nasty old piece of paper with glue on it ( as the horses in Gulliver's Travel's would say). 

I love the idea hopefully I can participate in this soon as I am supposedly artistic to some.   

I wonder how much that will go for if the seller is completely hidden or unknown. I have my theories what will happen.
Anyway, I don't really trust deep arts. They can easily trigger certain things within people and they can become idol to those who are too attached to them.
There is a good reason why the Holy Book forbids things like that.

I found this pretty interesting but I've not tried it yet on any of my own nft's I've made.

https://cointelegraph.com/news/opensea-collector-pulls-the-rug-on-nfts-to-highlight-arbitrary-value

$13 million?? its crazy i dont know from what aspect that nft can be that expensive, i still dont get it how nft work and what the advantage if we buy it or hodl it
i think its just a trend and will gone soon
but for a caution i will try to get free nft maybe i got some advantage if i hodl it