Crypto Art: Difference between revisions
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Revision as of 06:12, 27 March 2021
Description
Everest Pipkin:
"Cryptoart is a piece of metadata (including, generally- an image or link to an image/file, the creator of that file, datestamps, associated contracts or text, and the purchaser of the piece) which is attached to a “token” (which has monetary value on a marketplace) and stored in a blockchain.
An individual piece of cryptoart is called an NFT. You can think of each NFT as a trading card or a collectible with an individual value that is also affected by the general market value of NFTs as a concept, the Ethereum network and cryptocurrency in general. Like beanie babies without the beans.
Cryptoart is bought and sold with- and has its value calculated in- Ethereum, a 6-year-old cryptocurrency that was (at the time of writing, 2 pm March 2nd 2021) trading at 1 ETH = $1476.21 USD." (https://everestpipkin.medium.com/but-the-environmental-issues-with-cryptoart-1128ef72e6a3)