NFT-artwork creator explains why digital art could be crypto's next frontier
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- Опубліковано 8 лют 2025
- CNBC's "Squawk Alley" team discusses what NFT art and why it may become a new digital asset class with artist Mike "Beeple" Winkelmann. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
The cryptocurrency world is abuzz with talk of digital collectibles, unique virtual tokens that can represent anything from art to sports memorabilia.
People have been paying hundreds of thousands of dollars for these NFTs, or non-fungible tokens. One investor, Sheldon Corey from Montreal, Canada, told CNBC he paid $20,000 for one of thousands of computer-generated avatars called CryptoPunks.
CryptoPunks isn’t a new phenomenon - it was released by developers Larva Labs in 2017. But it’s boomed in popularity lately, generating $45.2 million in sales volume in the last seven days alone according to the website NonFungible, and inspiring a broader “crypto art” movement.
CryptoKitties, one of the original NFTs, generated $433,454 in sales in the past week, according to NonFungible. The digital cats, which were developed by a start-up called Dapper Labs, were once so popular they clogged up the network of digital currency ether.
NBA Top Shot, a platform created by Dapper Labs in partnership with the basketball league, attracted $147.8 million in sales in the last seven days, according to NFT data tracker CryptoSlam. The service lets users buy and sell short clips showing match highlights from top basketball players.
The increased momentum for these tokens comes as bitcoin and other cryptocurrencies have rallied significantly in recent months, and at a time when people are spending more of their time indoors due to coronavirus restrictions.
What are NFTs?
NFTs are non-fungible tokens - meaning you couldn’t exchange one NFT for another - that run on a blockchain network, a digital ledger that records all transactions of cryptocurrencies like bitcoin.
The difference with bitcoin and other tokens, though, is that each NFT is unique and can’t be replicated. Each one accrues value independently. Crypto investors say NFTs derive their value from how scarce they are. They’re stored in digital wallets as collectors’ items. Beyond art and sports, people have also found uses for NFTs in virtual real estate and gaming.
Nadya Ivanova, chief operating officer of BNP Paribas-affiliated research firm L’Atelier, says collectible digital assets can be thought of as a better version of an MP3 file. Musicians have struggled to profit from their work in the digital age, and Ivanova says some are turning to NFTs to prove ownership of their work and find an additional source of revenue.
“It’s allowing content creators to actually own the property rights for what they create, which allows them to profit from it in different ways which they can’t do with physical art,” she told CNBC, adding that crypto art is the strongest growing subsection of the digital collectibles market.
The total value of NFT transactions tripled to $250 million last year, according to a study from NonFungible and L’Atelier. The number of digital wallets trading them almost doubled to over 222,179, while some traders were able to make profits of over $100,000.
“We’re seeing a new generation of traders within the NFT market; people who are digitally native looking for digital native asset classes outside of established asset markets,” Ivanova said. “These are people who have amassed reputation and wealth and want to invest it in purely virtual assets like NFTs.”
Ivanova says the NFT market has been maturing. Famed auction house Christie’s auctioned an NFT-based work of art created by Beeple, a well-known digital artist who has created videos and graphics for celebrities like Ariana Grande and Justin Bieber.
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He’s right about ownership. I’ve been worried about posting art I created on social media because how, in the end, could I prove it was my art? So I see even some kind of registration of art as well.. or I hope that happens..
Same here and the negative impact of "playing it safe" means you miss out on opportunities. Another reason why pirates and online thieves need to burn in eternal flames.
But what's the actual value for the buyer? If someone else can have the same art resolution and quality even though is not the authentic one. What's the real difference for an art admirer?
@@taturay I'd say in the event the current owner of the piece wishes to use it for monetary gains then they'd be able to while everyone else could not.
Veve!!!
@@taturay it's like golden diapers or toilet: a shallow showoff for nobody.
Yeah lemme uhhhh buy a 500,000$ vine clip
😂😂😂
Selling a can of virtual air for 2 million dollars. Anyone buying?
The creator of the clip gets a % for EVERY transaction...forever. Vine wasn't doing that for content creators that's for sure.
This is a beautiful beginning of a new era of art
Nothing artistic about it. It’s pure business
@@johnjohn2570 Art itself is a business, so why are people still thinking nft is some sort of scam, you will regret not taking this art movement seriously
What you explained about music already exists in NFT land. Can't remember the name exactly but there are platforms that allow you to buy music, and earn royalties on plays, and other similar concepts
There are royalties on Rarible. If a piece gets resold to another collector, the creator will still get a cut. I have my royalties set to 10% on that platform.
Audius is the platform, at least the one that is attracting artists. there's another that seems newer/more technical named eulerbeats
Euler Beats is the project
You know you are early in the game..when there is less than 1,000 views...hahaha
Ohhhh yeah
Get it, Beeps!!
Is that a screenshot
This is going to be revolutionary for digital art.
And through blockchain ownership, it will be INEVITABLE that a VR implementation will be used. So the person who owns THE delorian from Back to the Future will able to drive that car in the VR world, and the ownership will be proven via NFT blockchain.
Get. Out.
Veve!!
Question: if someone simply replicated physical art into a NFT, who owns the rights? Is it even legal?
Say take a picture or art and create NFT or use a picture of someone else and create NFT?
@@QuaintQuipster so it holds no value because its not authentic same way if u have fake rookie michael jordan not graded by psa or a fake pokemon card or a fake signed babe ruth baseball. Sure looks like one but no authentication so no value no resell value
You could just buy a real car
okay but no one Ive seen talk about NFTs have actually answered the question of how the Token on the Blockchain is actually associated with the piece of artwork. Like what is stopping the owner of an NFT from saying that it is actually proof of ownership for something other than what they originally bought it for? and like the one guy asked, what does "ownership" even mean in the context of NFTs if there are no normal legal rights associated with the NFT? This seems more like a pyramid scheme system fueled by blockchain hype being marketed to artists as a means to get paid with virtually no middleperson
We are now officially in insanity territory.
You might be right or wrong, we also can be entering a new age of inventions based on blockchain. Remember the internet had same origins.
@@lliza444 YES BUT WHAT VALUE DOES A DIGITAL PICTURE HAVE IF IT CAN BE COPIED EXACTLY AND IN A FRACTION OF A NANOSECOND. UNLESS THE OWNER HAS THE RIGHTS TO IT AND GETS PAID IF IT IS USED AND CAN SUE FOR COPYRIGHT VIOLATION, THIS IS WORTHLESS. I HOPE YOU UNDERSTAND WHAT I MEAN AND WHY I THINK THIS IS NOTHING BUT A NEW MASS DELUSION SCAM.
@Rad Roach what value does it have without copyrights ? what the difference between that digital painting you paid 100k to buy as NFT, and my copied file. they re exactly the same 01010
@@AlmofidBdarija I do agree with you in some points but I wonder if you get the technology behind bitcoin and any crypto coin. Also I believe this is the beginning of things to come, this is for sure not it’s killer app. Like I said with the internet it took years and a lot of changes to become what it did. I do see how artificial intelligence will run everything and knowing that you can see how blockchain is really being build for AI not us.
@@lliza444 I can see this being used as ownership for gaming cards for example that you can trade. issued in limited quantity by the company just like normal pokemon cards or magic the gathering.
People are as confused about NFTs in 2021 as people were confused about Bitcoin in 2010. We are early boys. Buckle up!
I totally get it!!!
Wish I knew about this 4/5 months ago when ETH was way cheaper
ECOMI just raise 6000% this month. omi is going to be a monster!!
How did you buy ecomi? I tried the wallet but it's asking for a Bluetooth connection for secure wallet...
@@fishbrainCTRL BITFOREX. Be careful with them as they hold asset when you deposit. Good luck
why is ecomi not big enough and not being shilled ? This is the biggest project in the game .....!!!!
So, is an NFT essentially a virtual Certificate of Authenticity for a physical item?
Yes
This is getting crazier and crazier.... I'm going to stick with stocks of actual companies.
Lol well done kandem so
Smart 😂😘✈️
@Valuable-Honey-172 The inefficiency of energy use can be fixed.
Right this is basically showing us how money doesn’t exist its lend and lend
Beeple making waves!
Damn! This is the first time I'm hearing beeple not swear!
A question for anyone/everyone... I understand the ‘value’ of proof of ownership of an original. However, how does the blockchain/NFT proof of ownership outweigh, for example, an original oil painting of which there would be only one in existence? He mentions the Mona Lisa and correctly notes that anyone can have a photo of it but there is only one original... so if the Mona Lisa had been an NFT, as opposed to an oil painting, would it be more valuable than the oil painting in the Louvre?
Someone is laughing all the way to the bank. Apparently there is a sucker born every minute... lots of them... lots of minutes!
No kidding, Bob "owns" a tweet he paid 100k for. Derr der der derrrr!
This will undoubtedly take off, but some of it's uses will be for fools
I'm curious to know if this will resolve copy right infringement
You can't copy a bitcoin no... That numbers either in your wallet or someone else.
You can copy digital art... Print screen, save as, location C drive.
Do I have the original... No... Can I enjoy the asset... Yes...
Nice idea though, could work as long as your counting on people buying authenticity, which I guess they have since art began.
The endless reproducibility of a digital asset was supposed to undermine art's singular status as a physical totem: the source of its cultic authority, all the snobbery associated with 'authenticity' and 'unattainability' that one can find in the global art world crowd. Placing ownership of a digital asset on a 'blockchain' can attempt to mimic the traditional art circuit, but can you ever truly 'own' flashing pixels on a screen?
I see more potential in using blockchain as a means to track and verify the authenticity of some physical art piece. Imagine you could see every Picasso painting on the blockchain, where it's been and who currently possesses it. With blockchain there would be no more forgeries because if it's not on the blockchain, it's a fake. Same can be done for let's say university degrees. Employers could see if a degree was achieved by an employee simply by looking at the blockchain.
@@nickb863 it's garbage. Especially the real scarce resources it takes to emulate scarcity on infinitely distributable digital contents that will only benefit those who already have influence sans a few fluxes.
@@cronoz7 Your banking on those who are wanting to view it digital I guess
So continue enjoying what you want to enjoy. High monetary value art has never been for the majority and never will be. Artists have used this platform to not only made millions selling a piece once, but continue to do so as its resold. People with money want this and theyre already paying for it, so its more than a "nice idea though".
Munger is gonna crack his skull face palming @ this nonsense.
So what's keeping people from lifting someone else's artwork and claiming that they own it? Does this mean we can't use whatever meme someone guy bought for $10,000?
Too much people have money to BURN
or they dont want to keep it in fiat currency because its backed by debt and a terrible model. Rich people also dont store cash in their banks, they diversify it into anything they can buy, this is just another avenue
money laundering.....
@@Silverwidows
It doesn't matter what currency backs it up, what matters is value. Rich people diversify into different ways of value creation for the sake of having different ways of value creation, not different ways of storing cash. If tomorrow the stock market goes legs up and every currency becomes worthless, the rich are still left with ownership of their value creating businesses. I don't know what kind of schizophrenic people are buying virtual air with 0 real life value for thousands of dollars, but wE liVe iN A sOciEtY, so...
@@Bambim8 thats literally what i just said lol. The three main reasons to invest and diversify your investments are 1. Pay less tax 2. The asset increases in value over time 3. Having your entire net worth innone thing is risky.
All that is contained in me saying "they diversify it into anything they can buy"
I'm just angry I haven't heard of this before (NFT). It mostly just makes me feel some kind of way. Not a good feeling.
it's just in the beginning, you have all time to catch up :-)
I dont know why the reporters are not grasping the idea of NFT art when it is the same kind of concept as purchasing a Warhol picture. There may be thousands of people who have print copies of the artwork, but there is only one original.
Its like these people enjoy overcomplicating anything blockchain related... its kind of sad
Very different though. A Warhol picture is still a unique physical object that can be loaned out, etc, and due that scarcity will bring in revenue to museums, galleries, whatever. Maybe I'm lacking in imagination, but that doesn't apply to digital art; I already get the experience of Beeple's digital art on his Instagram page.
You clearly dont grasp that owning the unique physical painting vs a reprint Is completely different that owning a digital file vs downloading that same digital file for free.
NFTs will be big. For the same reasons that a baseball bat signed by famous players is worth more than a plain similar baseball bat, or that an old typewriter used by Stephen King is worth more than an anonymous similar typewriter, or that a limited numbered edition of a print is worth more than a print with countless copies.
Except those items are real world objects and follow the rules of supply and demand. How does a digital file that anyone can download equate to that?
NFTs To The Moon! Space Vegas! Buy WAX tokens! 🚀 🚀 🚀 🚀 🚀
Cardano NFT's will be the next big thing 100%. You can thank me later...
For real. I was just thinking that. Especially now that cardano will have smart contracts. The network fees on ETH network are ridiculous as well. I think something like this on the cardano network will be much cheaper.
@@vjbk1587 Yeah I think there's going to be a lot of great news in the coming months also...🙏
My dad and I are currently working with cardano to produce and artist platform for converting work into nft’s and I gotta say they’re going to be coming in well under the price mark of the likes of ethereum with much more efficiency. For me they’re going to be very big players
@@jwills6809 I would have to agree... I just retweeted that Bondly finance (a partner of IOHK) is dropping unreleased music NFT's from artist Tory Lanez tomorrow 3/4/2021... Go check it out I think it just hit... Also is it possible to follow you on Twitter?
@@jwills6809 Any way to follow your NFT Cardano platform progress?
Terra Virtua Kolect (TVK) and Enjin (Enj) will be market leaders in this. TVK already has partnerships with Paramount and Legendary. Enjin has a game coming out this month with a vibrant marketplace. Both coins can be found on binance. Big big potential.
So if this gets resold again for $100m down the line, does the artist get a cut of the second sale?
Yes between 10 and 30% whatever they asked for when selling.
WTF did i just watch
The future
@@thomasrainbow Imagine a shared VR world where people spent half their day in recreation. Now imagine being able to purchase and sell land, art, for your home, experiences etc. This is the beginning of that.
@@storiesreadaloud5635 ewwwwwwwww
@@CallMeRabbitzUSVI are you from cali? you stepped in something?
@@storiesreadaloud5635 What you have just described has existed since 2003, it's called Second life
Beeple! A man of the people and a champion for artists everywhere! Finally with NFTs we artists get the $ we deserve! Congrats Beeple hitting $1mil in under 10 mins at Christies today! The future is NOW!
one of Beeple's pieces was sold for $777,777 during the initial auction. also comes with a sample of his hair! seeing how he has a close cut rn, he must've had a bushy situation going on while chopping off samples haha.
No one talking about when the BUBBLE WILL BURST. Be careful.
I really wonder what stops anyone from stealing artworks and minting them on the blockchain as originals, earning money at the original creator's expense :(
Nothing
Absolutely nothing and that is exActly what is happening
Can someone help me? I would like to se whole interview is it possible? Where I can watch it??
My guys are legit buying wallpapers for car money smh
As an artist and creator I'm wondering how would I make sure I have rights to the original block chain? How do you set that up?
you don't, but you can earn royalties when your piece is resold
but it's not a "currency" cause currencies are fungible...
Did somebody say it was a currency?
I'm not sure I understand. How can blockchain verify ownership of a digital asset? Can't someone just upload a work of art to an image-sharing forum?
NFT GANG PULL UP
TransitNet is working on a title solution for digital assets.
Time to use paint more often and sell my art.
Do it. Content creators get a commission on all the transactions for life.
@@onlydbrasko thats interessting
A new frontier for digital commerce
What if you are not a popular/legendary digital artist? Can they command high price for their art? And is it a worth it investment even if you buy from a not so popular digital artist?
Just bought nyan cat gif for 600k great deal can’t wait to......uh watch it?
Okay, can someone explain how I can take advantage of this?
Nifty Gateway
sure, just wire your life savings into my bank account and I'll make sure it gets taken care of.
@@weswinder8493 do you think it matters which one you get on nifty or just owning one is good? I bought one yesterday but the artist is like a nobody
@@solo127 yo stupid? Next month you're a fuckn billionaire dude!
good explanations
Tulips anyone?
been on this for the last month
Sums up the state of our country the 1% blows millions on a jpeg. The other 99% starving.
$Chonk is one that has a massive potential for capital gains with the price going up and massive dividends for all the NFT they drop. Worth looking in to 🐈🚀
It is the future and I’m going to commercialize it
everytime the NFT get sold you the creator still get pay
no, just the first.
Yes. On Raribke you set your royalty percentage before you list. And every time it gets sold you get that royalty fee. It could be a 1/1 and gets sold 20 times and you get that original fee you set.
@The Joker Of course a digital contract can be anything programable, but my understanding is that these NFTs being sold for crazy high prices are 1 of 1 unique where the creator gets only the first sale. There can be other contracts but the creator does not "always get a cut". I will look up Raribke -are there others?
@The Joker I bought an NFT for $1, payed $40 for mining fee lol
$200M of digital hyperlinks sold but wait... "FILE NOT FOUND" WTF!?!?!?
So epic love Beeple!
Looks like free screensaver on my phone LOL
Yo guys I'm going to ipo a new EV car that runs on CRYPTO !
it's gonna be the next big thing 100% will be a 1000 bagger invest now or regret tomorrow
yes
Its a great idea. Support it. However won't it end up like actually money because of the popularity if the platform/ artworks. Also how would it differ from signing on. ie. Deviant art to grab someone's work & just using it within their small community ie mugs. T-shirts etc. Snapshot! Again, authenticity sh0uld be done but it's not that different of a system that we use today. Just more views or likes? Getting rid of platforms i.e.. Shutterstock so they dont profit from every picture sold= Im on board!
OMI 🚀🚀
Regular media- always 2 years behind the ball! JackSmack on Rarible has some cool ones
Dumbbest thing I've EVER heard
This comment will not age well...
NFT is going to crash the crypto market
Corridor Digital, 45 minute everyday.
🚨What’s going on HERE 👀🥶📊
It's about narcissism and validation basically. Bc wtf. Millions of dollars to say you own a recurring clip of Lebron doing a slam dunk.... there's plenty of footage online...and are you Lebron James? Will he stop dunking? It's nonsense. It feels like another way for ppl with excess boredom and money to feel validated. 'Oh so you have an original pokemon nft?... do you just stare at it on the screen?'... can't touch it, can't actually play with it...literally just to say you have it.... you're bored!
Postmodern Pop Art:
en.m.wikipedia.org/wiki/Superflat
#soflo #synchromism
nft art is like being on dMT
Congrats Beeple!
NFT is the future! Great job, Beeple.
Syscoin Baby!
How much is a John Wick continental hotel token?
rule 34 artists are gonna be thriving
So everybody can have it but it is accepted that only one person owns it
You don't really have it though if you don't own it. Just like the Mona Lisa. I know what you mean though.
anyone can see it, but it comes with additional content often too. Like a signed copy of a Dean Koontz, I could sign one like him but if it's not verified then it's not as valuable. There's a lot of ways to look at this, but it's definitely legit and real. it makes more sense than bitcoin to me anyway
@@thomasrainbow having a picture of the Mona Lisa and having the exact same copy of a digital image is not the same thing imo. If I copy a a gif I basically have the exact same clone and I have a hard time understanding why one should be valuable and the other worthless
#cardano
* blasts air horn
Look like a bunch of album covers to me.
We are here
Love Beeple
POOLZ n MUSE 10x soon
Hype button for the memes
Off the meds...
Bravo
brand new scam just dropped
Press the button BAAPAPAPAOOOW!! 🤣🤣🤣🤣
The artist himself is mumbling to explain why would anyone pay to make digital art exclusive when anyone and everyone can see it, copy it and view it easily. When you yourself cannot explain what you are promoting - how do you expect the rest of the critics and general public to drink your kool aid?
Not unless there's DRM on the image. It will work better on limited time buy object like concert ticket which cease to exist after the event but have great demand just prior.
You're obviously missing the point. Big picture. Anybody can copy and paste, but can you say you created the piece? Maybe its too complex for the "general public" LoL. Go drink your Kool Aid.
Veve!!!
I personally don't agree that a blockchain token entitles you to own digital objects. As long as copies exist, you own another copy + a BS digital certificate. Sorry for the idiots who pay this guy 1000 for a box with hair and a digital picture. Even sorrier for the idiots who want it so hard that it achieves scarcity. you can spend a bitcoin. you can not spend a token for digital art unless you find a fool to buy it. I could argue that you can sell the ownership of the united states the same way. as a non-functional token. I wish I could sell non-functional anythings for 1000 each. This guy literally prints money.
@@chuckwhite3033 you don't need a blockchain token to have rights. you just purchase them with a contract. this blockchain art thing or non functional token is not a standard, nor worldwide accepted certificate, just bs. I could literally fart and sell you the right to the smell through such means. It doesn't make any more sense than a paper certificate. If you think that forging paper is always easy you are welcome to try with paper money. Spoiler alert: It's not. At all.
Damn shepherd smith
cointertainmentdotcom
"... right..."
Lol
$CHR
$WOWS
Step 1 - get rich
Step 2 - make up something and call it an abbreviation so it looks like scientists made it....like ETP
Step 3 - buy the imaginary ETP from yourself and put out press releases so the news talks about how this new thing is selling FAST! And it's the new THING!! doncha know? Pfft... U got no ETP? Later boomer...
Step 4 - be rich. Laugh at da hoomans. Step 5 - Eat too much pie.
That got a name for that. It's called wash trading.
Yo capitalism is dumb. I’m done with it
Alright boys someone please tell me what to invest in
SLP is a 0.04$ now, 1000x altcoin gem. Im going to retire this month :)
Are you sure this is going to go up? How can we know for sure if Axie Infinity "pets" are going to be a thing? And how will this affect the SLP coin?
Nai-an cat lol
Man is so thirsty
and Blender guru pretends that he does not understand NFT, because Beeple uses Cinema 4D? I don't know lol, he explains it here NFT