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This 10-Second Video Clip Has Been Sold For a Whopping Rs 48.3 Crore, What

This 10-Second Video Clip Has Been Sold For a Whopping Rs 48.3 Crore, What
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This 10-Second Video Clip Has Been Sold For a Whopping Rs 48.3 Crore, What

This 10-Second Video Clip Has Been Offered For a Whopping Rs 48.3 Crore, What

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New Delhi: Within the period of expertise and digital revolution, something is feasible! Seems a 10-second video clip has simply been bought for a whopping Rs 48.4 crore ($6.6 million) in London. In line with a Reuters report, US-based artwork collector named Pablo Rodriguez-Fraile, a resident of Miami, produced a video final yr by spending $ 67,00 (49.23 lakh). Final week, the identical 10-second video was purchased for $ 6.6 million (about Rs 48.47 crore) Additionally Learn – Truth Verify: Milk to Be Offered at Rs 100 Per Litre From March 1, 2021? Know The Fact Behind The Declare

However why?

Notably, this video, a brand new kind of digital asset often known as a non-fungible token (NFT), by digital artist Beeple was authenticated by blockchain. Blockchain expertise permits gadgets to be publicly authenticated as one-of-a-kind, in contrast to conventional on-line objects which may be endlessly reproduced. The actual video exhibits former US president Donald Trump mendacity on the bottom and his physique lined in slogans, whereas folks stroll previous it.

Sharing the video, Reuters wrote, ”A ten-second video clip bought for $6.6 million: A brand new kind of digital asset generally known as a non-fungible token (NFT) has exploded in recognition as fans and traders scramble to spend cash on gadgets that solely exist on-line.”

Watch the video right here:

‘Non-fungible’ refers to gadgets that can’t be exchanged on a like-for-like foundation, as every one is exclusive – in distinction to ‘fungible’ property like {dollars}, shares or bars of gold.

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“You may go within the Louvre and take an image of the Mona Lisa and you may have it there, but it surely doesn’t have any worth as a result of it doesn’t have the provenance or the historical past of the work. The fact right here is that that is very, very precious due to who’s behind it,” stated Rodriguez-Fraile, who stated he first purchased Beeple’s piece due to his data of the U.S.-based artist’s work.


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