Communications of the ACM
How Much Real Money Can You Make From Virtual Art?
Alex Lugo, 29, used to drive trucks to support his wife and children, Jonathan, 5, and Layla, 9. Now, he says has saved enough that his children will “have the freedom to choose what they want to do with their lives.”
Credit: Lila Barth/The New York Times
Late on a Friday last spring, Izzy Pollak decided to buy two Bored Ape NFTs, which — as a reminder for the many people thinking, Yeah, but I still don't know what an NFT is — means he bought unique, digital images (in this case, of apes).
As the owner of a Bored Ape, he now has commercial rights over the digital image to do with as he wishes. Many people choose to display their NFTs as their profile picture on social media accounts.
(And if you're wondering how ownership of a digital asset can be proven: Every NFT, or non-fungible token, has a distinct serial number, and the transaction history of each NFT is stored on the blockchain, so people can see who the real owner is.)
Mr. Pollak, 29, who bought three more a few months later, obtained these from a collection of 10,000 NFTs known as the Bored Ape Yacht Club. Some of the apes are wearing gold jackets or animal-print tunics. Others are smoking cigars or smiling widely.
From The New York TimesView Full Article
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