Calling a token a kind of cryptocurrency is not entirely correct. It is a digital, virtual asset that was issued on the basis of a cryptocurrency and implemented using blockchain technology. Thanks to a special combination of encoded characters, all the necessary information is recorded in the token.
Let’s take a deeper look at what NFTs are, and then find out what kind of, according to buidlbee.com, dumbest NFTs have been sold.
What dumbest NFTs have been sold
- Oleksandra Oliynikova – space on skin
Oleksandra Oliynikova, a Ukrainian athlete, sold her first dumbest NFT. What was the NFT? Her NFT was her right arm and shoulder. By purchasing this NFT, the person who bought it was given a lifetime right to the designated space (15×8 cm). The owner of this NFT also has the right to resell and get a tattoo (upon request) in this place. The Ukrainian tennis player sold this NFT for $5,400.
- Jack Dorsey – First tweet
Jack Dorsey (CEO of Twitter) put his NFT up for sale in the form of his first tweet (March 21, 2006). The tweet says “just setting up my twttr”. Dorsey sold his NFT at auction for $2.9 million. Incredible money for one tweet, isn’t it? This tweet is in danger of becoming the most expensive tweet in history.
- Kyle Craven – the loser Brian
Remember in 2012 the meme with the loser Brian became popular? Unpleasant events were attributed to this photo, over which everyone laughed. But as they say, “The one who laughs last laughs best”. Kyle Craven, who is pictured in this photo, put his photo up for auction by the NTF and got $36,000 for it.
- Look Labs – Crypto perfume
The German company Look Labs creates a perfume that will answer the question of what does cryptocurrency smell like. The perfume will combine notes of juniper, lemon, bergamot and add a little bit of pepper in the form of pepper. The perfume was named “Cyber Eau de Parfum”. Thanks to the unusual way of converting this perfume into NPT (the company has resorted to spectroscopy), we will be able to choose from a dozen different packages.
- Azealia Banks – “I Fucked Ryder Ripps”
In March 2021, along with a tweet from the CEO of Twitter, a sex tape called “I Fucked Ryder Ripps” was auctioned and then sold for $22.5 thousand. Banks has long wanted to do something outrageous about what she sees as the unjustified hype around the NFT.
What is the point of selling and buying NFTs?
For the artist
The NFT gives you the ability to sell what is actually much more difficult to sell for good money. Take the same stickers, you think they are great and worth more than a couple of dollars that you get by selling them on Telegram. The NFT will allow you to make money on this, to make yourself known. In addition, you are given the opportunity to receive a percentage of the resale of your property.
For the buyer
It’s like with games. Why do gamers spend money on games? To thank the developers. It’s the same here, you buy an object for pleasure, and give away your money to thank the artist who spent his time on it.
For the collector
Why buy real paintings? First, for aesthetic pleasure. Secondly, in order to brag. And, of course, this is something to be proud of.
Conclusion
Despite the risks, the NFT market is developing at a very fast pace. Thus, the token with the first tweet in history was sold for almost 3 million euros.
In 2021, people spent more than ten billion (!) dollars on NFTs – non-fungible digital tokens that are tied to works of art or other intangible objects, but do not transfer any copyright to the buyer.
The most important advantage of NFT is the ability to tokenize absolutely any tangible and intangible asset due to its non-fungibility and, at the same time, the security provided by the blockchain.
The world does not stand still. 100 years ago, no one could have thought that it would be possible to pay for something with virtual money. We are rapidly moving forward and every year the digital space will expand. First the internet, then cryptocurrencies, NFTs, what’s next?
Related –
