The NTF model has received attention due to a unique ongoing digital auction at the auction house Christie's, where the artist Beeple sells his work Everydays: The first 5000 days, which is also a so-called digital NFT work.
NFT, which stands for Non-fungible tokens, is a kind of crypto technology that makes it possible to own and invest in digital art and music, which has previously been difficult because digital art has previously been easy to copy.
Since each NFT, or token, is unique and constitutes a digital signature, the work thus becomes salable.
Unlike cryptocurrencies such as bitcoin, NFT cannot be exchanged for another as each one is unique.
According to Christie's, Beeple's work is the first digital work to be put up for auction and sold for cryptocurrency.
The work is a collage of 5,000 individual works of art that the artist has created every day for the past thirteen years.
The latest bid at the time of writing is $ 3.5 million.
The auction will run until March 11.
Technology also in the music world
Technology has now also reached the music world.
This week, the artist Grimes sold a visual work she made with her brother, Mac Boucher, on the site Nifties gateway for six million dollars.
The American rock band Kings of Leon is also making history and releasing the first album ever as NFT on the tech startup YellowHeart, reports Rolling Stone.