October 3, 2023
New Delhi

This redesigned Nyan Cat Gif sold for $ 587k at a cryptocurrency art auction

This redesigned Nyan Cat Gif sold for $ 587k at a cryptocurrency art auction

Nyan Cat turns 10 in April (are you old?) And the artist behind the movie, Chris, to celebrate the anniversary of one of the most useful memes on the internet. Torres auctioned a newly reworked version On Friday, the piece was sold at the Cryptocurrency Platform Foundation for 300 Ether. That’s about $ 587,000 ($ 746,605) based on the value of the cryptocurrency at the time of publication.

In an interview with The Verge, Torres said he had no plans to sell another original image file of Nyan Cat. This means that the sponsor of this gif has a really unique piece.

“I think it’s great to know that you have the only piece out there,” he told the outlet. “And I feel that Nyan Cat will be a really special character.”

Torres made a series of adjustments and changes to the movie nearly a decade ago. This includes zooming in on the movie and making minor adjustments to the art to correct the details that have plagued him over the years. For example, in the original 12-frame animation, certain stars may appear and disappear randomly, so take that opportunity to remove them altogether. Torres told The Verge that he thought the reworked version “really worked this time.”

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If your eyebrows go up for a few thousand dollars, you should know that the coded arts market is in hell for a moment. In recent years, many online platforms have emerged, including SuperRare, Zora, and Nifty Gateway, where artists and sponsors exchange thousands of dollars worth of digital work in the real world. Foundation, one of the newest faces in the scene, launched just two weeks ago, has already reported revenue per Verge of $ 410,000 ($ 52,148).

Cryptographic art platforms typically sell these businesses through “non-exchangeable tokens” or NFTs. This is a blockchain-based digital token that represents a unique asset. Ownership of the NFT can be verified and tracked through the blockchain because the NFT is indivisible and the two are not the same. On many crypto art platforms, the actual sale, such as the new and improved Nyan Cat gif, runs on the Ethereum blockchain and uses Ether, the cryptocurrency second only to Bitcoin in terms of market capitalization. .. size. According to Reuters.

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While the crypto community has been centered around NFT for some time, the traditional sector of the art world has recently begun to adopt blockchain technology. This week, the iconic Christie’s Auction House unveiled its first auction of an NFT-based collection. “Everyday: The First 5,000 Days” by digital artist Pebble, whose NFT-based digital series sold for $ 3.5 million in December. .. Christie’s also confirmed to Bloomberg that it would accept Ether as a payment for the base price of the artwork (coin collectors will need to use the old dollars to cover the additional charges to the auction house).

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