User:Dalecri/Non-fungible token

Digital art

The purchase resulted in the third-highest auction price achieved for a living artist, after Jeff Koons and David Hockney. Another Beeple piece entitled "Crossroad", consisting of a 10-second video showing animated pedestrians walking past a figure of Donald J. Trump, sold for US$6.6 million at Nifty Gateway, an online cryptocurrency marketplace for digital art.

Figma CEO Dylan Field, sold a digital avatar entitled "CryptoPunk #7804" for US$7.5 million to an anonymous investor, as well as a second avatar "Ape, Fedora #6965" for US$1.5 million in February 2021.

A 3D-rendered model of a home named "Mars House", created by artist Krista Kim was sold as a piece of digital real estate on the NFT market for over US$500,000.

In 2021, a digital portrait of the Fyre Media logo was sold by rapper Ja rule at an auction for US$122,000 through his NFT venture "Flipkick", a marketplace for digital art.

The artwork "Gucci Ghost", created by artist Trevor Andrew, sold as a NFT in the form of a shivering GIF-ghost, for US$3,600 on the NFT market in February 2021.

In December 2020, a NFT artwork depicting seasons inside a series of vertical-rising rooms, was sold for US$22,938. The artwork was created by artist Blake Kathryn.

Collectibles

In 2020, 125,000 non-fungible token trading cards featuring images from William Shatner's personal life and career from the 1930s to today, were sold in nine minutes on the WAX Blockchain.

Sports

In addition, Dapper Labs, a blockchain technology-based company, has collaborated with the NBA to create "N.B.A Top Shot", a marketplace for digital highlight clips.

Fashion

In 2019, Nike acquired a patent that allows for blockchain technology to attach cryptographically secured digital assets in the form of NTF's to physical products, such as a pair of sneakers, under the name "CryptoKicks".

Environmental concerns

Alternative methods to maintain the blockchain secure have been proposed to mitigate high carbon emissions such as the "proof of stake" model, requiring users to freeze some of their own cryptocurrency tokens within the network to ensure the user has a stake in maintaining the ledger accurate. Users acting contrary to the system are penalized by losing tokens. This type of alternative system removes the need for vast amounts of electricity required to process complex puzzles currently used by Ethereum's current blockchain model. Some economists caution the downsides of moving to a proof of stake model, citing the potential for collapse of the blockchain if users are convinced on the effectiveness of the proof of stake system.