The token market NFT Nifty Gateway has seen a new record after a digital artwork was sold at a price of $ 55,555. What is this all about?
Digital art and NFT tokens
From CryptoTrend we know that this can be a very confusing topic, especially if you are starting in this world.
Very briefly, an NFT token stands for non-fungible token, and it is basically a special token that represents something unique.
In this sense, the tokens are not mutually interchangeable and each one is different. So it is precisely that characteristic that makes them unique for crypto collectibles and digital art.
In this way, nowadays a large part of the NFT tokens are used in order to verify the ownership of digital art. The reason is quite simple: digital items have existed for a long time, for example a Fortnite skin, with the problem that those items could disappear very easily.
For what markets like Opensea, Nifty Gateway and Marketplace allow you to actually purchase digital items. And, those markets have seen a significant surge in recent months.
The growth that this market has had in recent years is interesting, with a very significant boom this year.
In fact, Nifty’s statistics show us that over 14,000 sales have been made in the last week.
However, it was on July 23 when, the artist’s unique work Trevor Jones ‘Picasso’s Bull’ It was sold for $ 55,555.55 to Pablo Rodríguez-Fraile of the Museo de Cripto Arte (MOCA) in Nifty.
The news was posted on the blog of Gemini, the Winklevoss brothers’ crypto exchange, which backs Nifty. In this sense, the transaction was described by the statement as “Break all previous records for the sale of a digital artwork in the form of a non-fungible token.”
In addition, the statement stated that “A new medium has been established in art and it is evolving before our eyes.”
And from the looks of it, this is a record that could be left behind very soon as, according to the statement, Nifty plans to launch new collections of digital art with major artists more frequently.
Other markets are also flourishing
Nifty’s recent record certainly gives a lot to talk about. However, he has not been the only one who has done well in recent months.
Other markets, such as Opensea or Makerplace, have also seen a significant surge in recent months. So the market for digital art and NFT tokens seems to have significant potential.