Business
How a 10-second video clip sold for $6.6 million – Sydney Morning Herald
In October 2020, art collector Pablo Rodriguez-Fraile spent $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold…
You can go in the Louvre and take a picture of the Mona Lisa and you can have it there, but it doesnt have any value because it doesnt have the provenance or the history of the work, said Rodriguez-Fraile, who said he first bought Beeples piece because of his knowledge of the US-based artists work.
The reality here is that this is very, very valuable because of who is behind it.
Non-fungible refers to items that cannot be exchanged on a like-for-like basis, as each one is unique in contrast to fungible…
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