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Press release • Apr 06, 2021 12:04 BST
In an article written for The Conversation, Peter Howson, Senior Lecturer in International Development, Northumbria University, Newcastle discusses non-fungible tokens and digital art.
How much would you be willing to pay for a one-of-a-kind work of art? For some collectors, the limit lies somewhere in the region of hundreds of millions of dollars. What about a work of art that has no tangible form, and exists only as a digital token that’s no more “real” than a JPEG file? Welcome to the strange world of crypto art collectibles, also known as NFTs.
Like Bitcoin, NFTs (non-fungible tokens) are cryptocurrencies. But whereas individual bitcoins all have the same value, NFTs are more like baseball cards. Each token has a different value and they can’t be used to buy things. They exist on your computer as digital representations of artworks, songs, films and games, among other things.
<p><span>In an article written for The Conversation, <a target=" blank" href="http://postman.mynewsdesk.com/ls/click?upn=BSwNBFT0tQthl0nrQcTUUSv-2FrDAwq8vvjQIsCjD6hq6KD0yZ90KsRnuefvhxBql3G5-2BGUfD4iV0JiM0n9N-2FHC-2BwNPjngYPD29X1ZskyGNrA-3DDT7F dOZemr-2FgfCF7mCOtP6PwaQNIgduZQ7bQ177Ra6lERxzr1nz8fftCyEChkv6xi4cWZ-2BEGInlETck9qfQMacnaOlJts2QLZ4c1Ackj8eeMKKlNWuniVX8d3ugUIIzNJ42Fx5W6TDkuzMv0zLgrLeHky6CF4G97Gv82iKVDq7mghGPJL4u5JZi-2FvMuRdX3S5d1Xdu-2ByTPjZ0Cs6Vp-2B1pMWh7u2AONAY80Blgxgr3DfvEw6-2FH4qf0zqz50I6W8LGLZLsiogN4qCbklaMY1s8-2FbH6i2swmS-2FWuYWoqYp7Gma-2FXHtDhwLBz8z4zcmxC52DNWQb4qdaf0XEFWmhgEb-2FdV9PFniPmtgWaijdbrV3rKDoOGKUTNMpCdfqJHVjkzt9uwEGyNvPbbkWSzfcFJGGXGUUlV7JSdO8JSw88k8oyTyIWSbzdWRnz-2BzQAQQu8EYoPlyA">Peter Howson</a>, Senior Lecturer in International Development, Northumbria University, explores environmental myths around cryptocurrency.</span></p>