When NFT Trump(s) Bitcoin
3 Mar 2021 — To date, Bitcoin at $48K surged in value by over 15 fold since its lowest in 2018 at $3K while the digital currency Ethereum jumped over 18 fold to over 1.5K since its lowest in 2018 at $83.
If you think that cryptocurrencies are on a roller coaster ride lately, wait until you hear about NFT digital artworks’ explosive rocket ride. The price escalation of non-fungible token (NFT) digital video artwork entitled Crossroad, 2020 by artist Mike Winkelmann aka Beeple is recently sold for a whopping $6.6 million, close to 100 fold from its initial purchase price of $67K in 2018.
The computer-generated video sold by Rodriguez-Fraile at Nifty Gateway, an online cryptocurrency marketplace for digital art, shows what appears to be a giant DonaldTrump collapsed on the ground, his body covered in slogans, in an idyllic park setting.
An NFT is a special type of cryptographic token which represents something unique and not mutually interchangeable using blockchain technology. The artwork consists of an encrypted image or video file, with a digital signature that cannot be duplicated, giving buyers the assurance that their purchase is an authentic copy.