Skip to main content

Why the buyer of Beeple's $69 million NFT wants everyone to make free copies of the digital art

By
Beeple V4
Beeple's NFT collection.

Business Insider

  • In March, Vignesh Sundaresan spent $69 million for the NFT of Beeple's "Everydays."
  • Now, he says he would be happy if everyone had a free copy of the artwork.
  • That's because he said information on the internet wants to be free, and paywalls don't work. 

In March, Beeple sold a digital collection of his art as an NFT for a record $69 million. Now, the buyer wants everyone to have a free copy. 

The buyer, Vignesh Sundaresan, who's also known as MetaKovan, told Bloomberg he'd be happy if everyone downloaded a copy of the multi-million dollar non-fungible token, "Everydays: The First 5,000 Days."

That's because Sundaresan, a crypto investor who cofounded bitcoin ATM company BitAccess, told Bloomberg "information wants to be free," and keeping things on the internet inside walled gardens like paywalls doesn't work well.

To him, everyone should be able to enjoy an NFT, a digital piece of art tied to the blockchain, without having to pay for it. For those who pay for the production, they get the credit for it, Bloomberg wrote. 

"Instead of giving the importance to that copy of the file, it kind of gives importance to something else big. The idea that some person supported an artist at some time and this was the memorabilia," he told Bloomberg.

NFTs have ballooned to a massive market this year, reaching more than $10 billion in trading volume in the third quarter alone, a more than 700% jump from the prior three months. 

Even as the mania around them continues, NFT enthusiasts and critics are sparring over the digital asset's actual worth. Enthusiasts say NFTs are the key to unlocking the future internet, known as the metaverse; critics say they're nothing more than a file that can be right clicked and downloaded. One critic even downloaded all of them to make a point. 

In April, Sundaresan said investing in NFTs is "even crazier than investing in crypto" and said the asset class wouldn't hold the hype forever. Instead, he said high-value items would be limited with an infinite number of low-value items. 

Read the original article on Business Insider


from Business Insider https://ift.tt/3Iab1sG
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Instagram accidentally reinstated Pornhub’s banned account

By
After years of on-and-off temporary suspensions, Instagram permanently banned Pornhub’s account in September. Then, for a short period of time this weekend, the account was reinstated. By Tuesday, it was permanently banned again. “This was done in error,” an Instagram spokesperson told TechCrunch. “As we’ve said previously, we permanently disabled this Instagram account for repeatedly violating our policies.” Instagram’s content guidelines prohibit  nudity and sexual solicitation . A Pornhub spokesperson told TechCrunch, though, that they believe the adult streaming platform’s account did not violate any guidelines. Instagram has not commented on the exact reasoning for the ban, or which policies the account violated. It’s worrying from a moderation perspective if a permanently banned Instagram account can accidentally get switched back on. Pornhub told TechCrunch that its account even received a notice from Instagram, stating that its ban had been a mistake (that message itse...
Post a Comment
Read more

Watch Aidy Bryant *completely* lose it as 'SNL' roasts political pundits

By
On Saturday Night Live , there are breaks and then there's whatever happened here. The Season 45 premiere featured a sketch that was meant to expose the empty noisemaking of political punditry on TV. But part of the joke involved a series of quick costume changes, and some weirdness during one of those switches led to a complete and total breakdown. Aidy Bryant, the segment's host, couldn't take it. She manages to keep it together until what appears to be an accidental wide shot exposes some of the magic as we see a woman who's probably a member of the SNL wardrobe crew fiddling with Aidy's costume. Read more... More about Saturday Night Live , Aidy Bryant , Entertainment , and Movies Tv Shows from Mashable https://ift.tt/2okrAOq via IFTTT
Post a Comment
Read more

California Gov. Newsom vetoes bill SB 1047 that aims to prevent AI disasters

By
California Gov. Gavin Newsom has vetoed bill SB 1047, which aims to prevent bad actors from using AI to cause "critical harm" to humans. The California state assembly passed the legislation by a margin of 41-9 on August 28, but several organizations including the Chamber of Commerce had urged Newsom to veto the bill . In his veto message on Sept. 29, Newsom said the bill is "well-intentioned" but "does not take into account whether an Al system is deployed in high-risk environments, involves critical decision-making or the use of sensitive data. Instead, the bill applies stringent standards to even the most basic functions - so long as a large system deploys it."  SB 1047 would have made the developers of AI models liable for adopting safety protocols that would stop catastrophic uses of their technology. That includes preventive measures such as testing and outside risk assessment, as well as an "emergency stop" that would completely shut down...
Post a Comment
Read more