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NFT APPLICATIONS Art Before the creation of NFTs, it was nearly impossible to verify and own digital art, as it was remarkably easy for others to screenshot or download a file. Accordingly, as NFTs provide a unique, tamper-resistant digital signature or certificate, the acquisition of digital artwork is now a far more lucrative and realistic investment.34 To date, the highest-valued NFT is “EVERYDAYS: THE FIRST 5000 DAYS” by the artist Mike Winkelmann “Beeple,” which sold for $69.3 million at the British auction house Christie’s on March 11, 2021.35 Following the record-breaking sale, another auction house Sotheby’s, announced on March 16, 2021, that it plans to host its own NFT art sale.36 Collectibles CryptoPunks. CryptoPunks launched in June 2017 as one of the first NFTs based on the Ethereum blockchain and also served as the inspiration for the ERC721 standard. 37 Larva Labs developed CryptoPunks, 10,000 small (24x24 pixel), algorithm-generated unique images portraying a variety of faces and entities. When Larva Labs first created CryptoPunks, anyone with an Ethereum wallet could claim them for free, but collectors rapidly obtained all 10,000. 38 To acquire a CryptoPunk today, potential buyers must purchase them from someone on a marketplace supported by Ethereum. Most of the CryptoPunks are human, but some depict zombies and aliens. 39 To demonstrate the value of the CryptoPunk market, CryptoPunk 7804, one of the aliens, sold in March 2021 for roughly $7.57 million based in Ethereum. 40 The seller originally purchased the Punk in 2018 for $15,000. 41As of April 30, 2021, the least expensive CryptoPunk available is 21.49 ETH (Ethereum) ($59,497 USD) and the total value of all sales over the lifetime of the CryptoPunk project is 163.22K ETH ($451.88 million USD). 42 CryptoKitties. CryptoKitties initially released in November 2017 and served as one of the first conventional applications of the ERC721 standard.43 CryptoKitties is a blockchain-based game where people can breed, raise, and trade virtual cats on the Ethereum network. Developer Dapper 34 Natalia Karayaneva, “NFTs Work for Digital Art. They Also Work Perfectly for Real Estate.,” Forbes (Forbes Magazine, April 8, 2021). 35 “Beeple's Masterwork: The First Purely Digital Artwork Offered at Christie's: Christie's,” Beeple: A Visionary Digital Artist at the Forefront of NFTs Christie's, March 11, 2021. 36 Christine Kim, “Q1 2021 Industry Trends: NFTs Rise to Fame, DeFi Consolidates 2020 Gains,” CoinDesk, April 21, 2021. 37 “CryptoPunks,” Larva Labs, 2021. 38 Ibid. 39 Ibid. 40 “CryptoPunks Market History,” NFT Market History (NonFungible Corporation, 2021). 41 Ibid. 42 Ibid. 43 Rakesh Sharma, “Cryptokitties Are Still a Thing. Here's Why,” Investopedia, September 12, 2020. 21RM009 • LSO RESEARCH AND EVALUATION DIVISION • 200 W. 24th Street • Cheyenne, Wyoming 82002 TELEPHONE 307-777-7881 • EMAIL lso@wyoleg.gov • WEBSITE www.wyoleg.gov May 2021 • PAGE 5 OF 9PDF Image | NON-FUNGIBLE TOKENS (NFTS) background
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NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
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NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
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