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A digital cat sold as a non-unique token (NFT) for 300 ethers

The image of a cartoon cat named “Nian Kat”, which has become a token (digital asset), was sold for 300 ethers. These types of tokens are called NFT tokens. Unparalleled tokens similar to other digital currencies are stored and transferred on wallets, except that each token is unique and not similar to another token. With the help of unparalleled tokens, artists and owners can experience real ownership and sell the right to distribute their work in a simple transaction.

to the the report CoinDesk, Nyan Cat, the famous internet phenomenon, was sold at an online auction for 300 ethers yesterday evening.

What was sold was not just a GIF file that could be created with a few simple clicks and can be found everywhere on the Internet these days; Rather, it was an encrypted hash of this image on the Ethereum blockchain.

Chris Torres, who made the meme 10 years ago, confirmed the sale in an email. This was his first experience of unparalleled tokens. These tokens are a kind of digital asset that has recently created a storm in the field of digital currencies.

Unprecedented tokens have become one of the trends in the field of digital currencies for several months. Currently, the main application of these tokens is in the world of digital art.

“Torres said about this:

I’m still relatively new to digital currencies, but I realize the full potential.

The meme was sold on the Foundation’s cryptographic arts platform, which launched just two weeks ago. The auction was open for 24 hours starting with bids from 3 ethers.

In recent weeks, a number of unique historical tokens have been sold for hundreds of ethers. An example was a $ 1 million version of Crypto Punk.

The unique token-based industry market, which has grown in line with the digital currency market, is now worth more than $ 100 million. Both cryptographers and traditional artists have been successful in this market.

The sale of this meme by Torres marks a fundamental change in the recent token industry; Encrypt and sell parts of the web that seem to belong to everyone.

Torres said:

It was a surprise to me, but I think I’m more happy to know that I’ve opened the door to a whole new meme – based economy in the world of digital currencies.

The makers of the memes have not yet received much reward for their work. Some signed book contracts and others sold T-shirts or merchandise. But there were not many ways to make money from this idea.

In the world of digital currencies, everything can be converted directly into money. If the identity of the creator of the work is reliably on that work, it provides the most direct way to reward something that others enjoy.

In addition, these works can be sold in the secondary market, and part of the profit from their resale goes back to the artist.

The maker of Nian Kat said:

I feel this is something that was absolutely needed and it will be interesting to see how it goes.


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