News • 2 min read
By Elisabeth Oberndorfer
Have you ever thought about investing in art? Well, here’s a new way to do it, and it involves blockchain technology: They’re called NFTs and have been widely discussed in recent weeks due to some pricey transactions. So what are NFTs and why is everyone talking about them?
Due to the features explained above, NFTs have become increasingly popular for trading digital art pieces in recent months. The blockchain-based tokens allow the copyright owner to be identified and verified on a public record. NFTs are unique, cannot be swapped for other tokens and can’t be manipulated. So in short, NFTs are a new way of proving copyright and trading ownership.
But what is the hype about? NFTs have been around for more than two years and have been gaining lots of traction. That is because one art collector sold his NFT of a ten second long video clip for $6.6 million. He only bought it in October 2020 for $67,000.
Why would anyone pay that much money for a piece of art that can be looked at for free online? Well, the same applies to physical art that you can see in museums but which you don’t own and have no right to reproduce. Thus, NFTs are all about the ownership and copyright of a piece. Plus, stealing copyrighted content has always been an issue on the internet and NFTs are a way to make things more transparent.
The fact that the video clip by digital artist Beeple sold for such a high amount has caused a frenzy and more interest in investing in digital art. Another noteworthy NFT sale is Nyan Cat. The meme was auctioned for nearly $600,000 in February. As mentioned above, visual art is not the only asset that can be traded via an NFT. Basically, any type of content can be sold via a token. Twitter founder, Jack Dorsey, is currently auctioning off his first tweet, and rock band Kings Of Leon are selling special editions of their new album via NFT.
But fear not, you don’t need millions or hundreds of dollars to get into NFT trading. NFTs are commonly sold on marketplaces like Super Rare, Nifty Gateway or, if you are looking for digital basketball memorabilia, NBA Top Shot. Typically, transactions are made via the Ether currency.
Even if you are not sold on trading digital assets like these, it shows how versatile NFTs can be. For now, lots of new artists sell via NFTs to spread the word and lots of traders are trying to make big returns by reselling their tokens. The technology is here to stay though, so NFTs are definitely a space to watch.
Why your money is safe with BitpandaRead more
Bitpanda Tech • 3 min read
Bitpanda GmbH ve grup şirketleri (Bitpanda) Türk Parasının Kıymetini’nin Korunması Hakkında 32 sayılı Karar’ın 2/b maddesine göre Türkiye’de yerleşik sayılan hiçbir kişiye yönelik olarak 6362 sayılı Sermaye Piyasası Kanunu başta olmak üzere Türkiye Cumhuriyeti Devleti mevzuatı hükümleri gereği Türkiye’de faaliyet izni gerektiren hiçbir sermaye piyasası faaliyetine dair hizmet sunmamaktadır. Şayet Bitpanda’nın yabancı sermaye piyasalarında vermiş olduğu hizmetlerden Türkiye’de yerleşik kişilerin faydalandığı tespit edilecek olursa tüm zararları kullanıcıya ait olmak üzere bu hizmetler ivedilikle sona erdirilecektir.
As the name would suggest, some cookies on our website are essential. They are necessary to remember your settings when using Bitpanda, (such as privacy or language settings), to protect the platform from attacks, or simply to stay logged in after you originally log in. You have the option to refuse, block or delete them, but this will significantly affect your experience using the website and not all our services will be available to you.
We use such cookies and similar technologies to collect information as users browse our website to help us better understand how it is used and then improve our services accordingly. It also helps us measure the overall performance of our website. We receive the date that this generates on an aggregated and anonymous basis. Blocking these cookies and tools does not affect the way our services work, but it does make it much harder for us to improve your experience.
These cookies are used to provide you with adverts relevant to Bitpanda. The tools for this are usually provided by third parties. With the help of these cookies and such third parties, we can ensure for example, that you don’t see the same ad more than once and that the advertisements are tailored to your interests. We can also use these technologies to measure the success of our marketing campaigns. Blocking these cookies and similar technologies does not generally affect the way our services work. Please note, however, that while you’ll still see advertisements about Bitpanda on websites, the adverts will no longer be personalised for you.