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NFT (non-fungible token) is a new type of cryptocurrency that exists exclusively in its cryptosystem. Simply put, this is a special form of digital art ownership, secured by a unique token. The owner of this token becomes the sole owner of a certain digital object, be it a picture, GIF, video, tweet, or song.
An NFT artwork created by humanoid robot Sophia was sold at auction for $688 thousand. This is the first-ever sale of an NFT artwork created by artificial intelligence, based on the work of the Italian artist Andrea Bonaceto.
Non-fungible tokens act as a certificate of authenticity for digital objects such as GIF, JPEG, MP3, or other digital art forms. Over the past month, people have spent over $1 billion on digital assets.
Time will also begin accepting cryptocurrency as payment for subscriptions within the next 30 days. The company is also looking for a new Chief Financial Officer (CFO) who will, among other things, work with cryptocurrency.
This week’s stories feature a shouting booth created by a Dutch inventor for more convenient coronavirus testing, and a techno song about NFTs by Elon Musk.
NFTs have received a lot of attention over the past few weeks, with artists, musicians, and people in the media getting involved in selling digital rights to different things.