10 second video sold for 48 crores, find out what’s special in this video
10 second video sold for 48 crores, find out what’s special in this video
This special video was created by a digital artist named Beeple. The 10-second video is currently selling for 6 6.6 million, or Rs 48.42 crore.
This special video was created by a digital artist named Beeple. The 10-second video is currently selling for 6 6.6 million, or Rs 48.42 crore.
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Have you ever wondered how much money a man can earn from a 10 second video? You may have also shot many such short videos. But none of them thought of making money through video. Many such videos will be lying on your phone. One such 10-second video maker has earned Rs 48.42 crore.
New Delhi: In the era of technology and digital revolution, anything is possible! Turns out a 10-second video clip has just been sold for a whopping Rs 48.4 crore ($6.6 million) in London. According to a Reuters report, US-based art collector named Pablo Rodriguez-Fraile, a resident of Miami, produced a video last year by spending $ 67,00 (49.23 lakh). Last week, the same 10-second video was bought for $ 6.6 million (about Rs 48.47 crore)
Notably, this video, a new type of digital asset also known as a non-fungible token (NFT), by digital artist Beeple was authenticated by blockchain. Blockchain technology allows items to be publicly authenticated as one-of-a-kind, unlike traditional online objects which can be endlessly reproduced. The particular video shows former US president Donald Trump lying on the ground and his body covered in slogans, while people walk past it.
Sharing the video, Reuters wrote, ”A 10-second video clip sold for $6.6 million: A new type of digital asset known as a non-fungible token (NFT) has exploded in popularity as enthusiasts and investors scramble to spend money on items that only exist online.”
Watch the video here:
Non-fungible’ refers to items that cannot be exchanged on a like-for-like basis, as each one is unique – in contrast to ‘fungible’ assets like dollars, stocks or bars of gold.
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“You can go in the Louvre and take a picture of the Mona Lisa and you can have it there, but it doesn’t have any value because it doesn’t have the provenance or the history of the work. The reality here is that this is very, very valuable because of who is behind it,” said Rodriguez-Fraile, who said he first bought Beeple’s piece because of his knowledge of the U.S.-based artist’s work.