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Showing posts with the label Cryptocurrencies.

Cryptocurrencies Windfalls Drive The Digital Art Boon

  bloomberg.com Crypto Windfalls Are in the Tokens Driving the Digital Art Boon Olga Kharif 4-5 minutes Photographer: larvalabs While digital art is having a moment after Beeple’s shocking $69 million sale of a NFT-backed piece earlier this month, copycats hoping to cash in might want to focus on the tokens themselves instead of the collectibles. Since “Everydays: the First 5,000 Days” set its sales record, the prices of dozens of non-fungible tokens that track ownership and sales prices of digital art have surged -- boosting the market almost 10-fold to $20 billion, according to crypto data tracker CoinMarketCap.com. That dwarfs even Bitcoin’s meteoric rise in the past few months. The surge is happening even as observers