Nan Fangiable Tokens, an encryption technique through non-replaceable symbols, allows certification to prove the authenticity of any digital product, be it an image, graphic, video or otherwise.
An exhibition dedicated entirely to the so-called digital works « The New York Times » opened in New York. F.B.I. T » defines itself as the world’s first physical display space dedicated to this new encryption technology that attracts an increasing number of collectors.
Following the opening of the exhibition in New York on Thursday, an exhibition dedicated to digital works sold in N.F.T.
The event takes place in a location close to Union Square in Lower Manhattan, where works, which are inherently non-physical, can be viewed on giant screens or by projectors.
The work of five artists will be screened daily for 60 days until May 25th. In total, 300 artists from different disciplines will be exhibited.
Technology allows « The N.F.T. (Nan Fangiable Tokens),It is a method of encryption through non-replaceable symbols, giving a certificate proving the authenticity of any digital product, be it an image, graphic, video, music track, newspaper article, etc.
This certificate is not theoretically non-breachable or copied and is designed according to blockchain technology used to encrypt digital currencies such as Bitcoin.
The popularity of the « N.F.L. began N.F.T » has been growing for just six months, leading to a rapid growth in the digital collector’s market, which was limited to a limited category. This type is attracting billions of dollars in investments.
Ed Zipco, co-founder and director of SuperChef, which has been exhibiting digital works since 2016, said every work on display at the exhibition will be sold later at auction.
The purpose of the physical presentation of virtual works « is to show their actual form in the way the artist imagined » on a large screen in high resolution, Zepco explained, noting that « the people who collect these works want » to see it in a concrete way.
About 70% of those whose work will be exhibited are not primarily digital artists, especially sculptors, painters and photographers, he said. « An increasing number of well-known artists whose work deserves to be exhibited in museums » are now accepting digital works, he said.
He acknowledged that understanding the technique N.F.T. Still « Difficult considering that it is very new. »It’s technology, so in such a situation there is always a need for a little learning and education, » he said. But it will soon become very normal. »
Although digital art has existed for decades, the emergence of the N.Y. N.F.T » reassured collectors about the dangers of copying the digital works they buy. It is possible to copy a digital work, but it is not possible to manipulate the »N.F.T » sold with him.
On Thursday, New York Times journalist Kevin Ross sold one of his articles in digital format for $560,000, in the latest manifestation of the growing passion for N.F.T technology. This article is dedicated to an initiative by the journalist that was aimed at testing the market and expanding the digital business sold with N.F.T.
On Monday, Twitter founder and president Jack Dorsey sold his first tweet on the network in the format of « N.F.T for $2.9 million.
On March 11, a digital work by American artist Pebble sold for $69.3 million at christie’s auction.