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Pablo Rodriguez-Fraile
Pablo Rodriguez-Fraile News
non-fungible token
02 Mar 2021
How a 10-second video clip sold for $6.6 million
The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it and that it is the original work. It's a new type of digital asset - known as a non-fungible token (NFT) - that has exploded in popularity during the pandemic. Blockchain technology allows the items to be publicly authenticated as one-of-a-kind, unlike traditional online objects which can be endlessly reproduced.
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