One of the few rules governing the burgeoning NFT market is that the creators behind an NFT get a 10 per cent share of the proceeds every time the blockchain tracks that it has been onsold.By attending an event at Pechanga Arena San Diego, guests agree to follow the current California Department of Public Health Guidelines along with San Diego County Guidelines for Indoor Mega Events. There is potential profit even in such altruism. “We want to level the playing field a little bit.” “Maybe it’s an investor we’ll trade with, but I’d like to think there will just be some kids, maybe some fans, who’ve made something cool,” Flume said. On Thursday, he and Zawada offered six new NFTs on the Foundation auction site, based on scored animations they produced in 2016, which are for trade rather than sale.
The producer, who has 9 million monthly listeners on Spotify, wants to ensure the emerging NFT community is not just for those with existing reach, or ethereum to burn. It’s really exciting that this is putting power back with creators.” “We went to the pub for a beer after to celebrate. “I’m kind of along for the ride on this, but for years the only place Jonathan had to put his digital art was on Instagram or online, and it really cheapened something he puts a lot of time and energy in to,” Flume told AFR Weekend from a studio in Byron Bay, NSW. ‘Power back with creators’Īs bemused as Flume is about the price fetched for Saccade, he said there was real utility behind the NFT goldrush.
“ cluing in that they too can make up really esoteric financial vehicles that disrupt markets and create new kinds of desires and products, that were previously the domain of institutional actors,” Heemsbergen says. Grammy-winning songwriter and producer Flume sees non-fungible tokens as handing power back to creators. Likewise, the frenzied bidding for Beeple’s jpeg was an effort to create an “aura of authenticity” over digital artwork previously shunned by the traditional art world.
The GameStop rally was the product of thousands of individual decisions to disrupt a space with centralised and normative rules, he said. They were following logic similar to that which inspired day traders to pump up the shares of GameStop in January in a bid to hurt the hedge funds shorting the stock, according to media and politics lecturer at Deakin University, Luke Heemsbergen. The price of 5000 Days was driven up by a bidding war between two cryptocurrency entrepreneurs.
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