The last few weeks have witnessed a series of mixed messages emanating from the family of Pablo Picasso, following the initial announcement by his granddaughter Marina and great-grandson Florian that 1,010 NFTs of a never-before-seen ceramic bowl would be released.
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One of the most popular platforms for non-fungible tokens (NFTs), OpenSea, revealed in a blog post last week that the company is now valued at $13.3 billion. The company, which was founded in 2017 by entrepreneurs Devin Finzer and Alex Atallah, has had a hugely successful year, with NFTs becoming the latest craze in the art world.
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ERC-721, the specification for non-fungible tokens (NFTs), has nabbed the number one spot of ArtReview’s Power 100, a list of the contemporary art world’s most influential figures. This is the first time a non-human entity has topped the ranking, representing a bold frontier for the market.
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Amir Soleymani, a computer programmer and art collector, is suing the digital art site Nifty Gateway for allegedly changing the terms of an auction moments before it started. The auction sold a non-fungible token (NFT) called ‘Abundance’ by the digital artist Beeple, whose work recently set a new auction record at auction earlier this year.
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