Mid-October NO RESERVE - NFT Art Auction
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Closed |
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This auction has closed
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Type: |
Internet-only (timed) auction
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Web |
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Spring, Texas, 77373. USA. tel: 346-341-3900
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Started:
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30th Sep, 2021 …
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Ended: |
21st Oct, 2021 … |
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Texas Auctions |
****We're excited to bring you another NO RESERVE, all Digital NFT Art Auction featuring incredibly unique and interesting pieces from artists across America. All items in this auction will be on the Ethereum Blockchain, featuring pieces by: Wren, Howard Sherman, GE2, DMG, Numeris, V1, ArcMod, Kelley Devine, Lana Gillett, The Flutist, Torabashi, Susie Cortez, Fallen Royalty and others.Auction Ends Thursday, October 21st at 7:30 pm Central****NFT stands for non-fungible token. Simply put, it is a digital token that exists on the blockchain to record proof of ownership for the person holding it. Each token is completely unique because it has its own unique metadata which can NEVER be replicated or replaced for another.An example to better understand this is: bitcoin is a fungible token, and each bitcoin has the same value. However, imagine youre trading NFT collectibles such as Krypto Kitties. One KryptoKitty NFT will have completely different traits and value to another.A real-life example of this would be: A dollar is a dollar. It is fungible. A plane ticket on the other hand, is non-fungible. Each plane ticket has different information and characteristics and cant be swapped with another.NFTs can be anything digital. Literally anything can be tokenized, including a photograph which is special to you, one of your tweets, or a two second video of yourself (yes, there are such NFTs). This is a developing market that is already seeing billions of dollars trade hands and many people are purchasing NFT's then they are subsequently resold many times for increasing profits.