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Line Goes Up – The Problem With NFTs is a 2022 documentary film written and directed by Canadian YouTuber and video essayist Dan Olson on non-fungible tokens (NFTs), cryptocurrencies, and Web3. The video was published to his YouTube channel Folding Ideas on January 21, 2022.
The first known "NFT", Quantum, [24] was created by Kevin McCoy and Anil Dash in May 2014. It consists of a video clip made by McCoy's wife, Jennifer. McCoy registered the video on the Namecoin blockchain and sold it to Dash for $4, during a live presentation for the Seven on Seven conferences at the New Museum in New York City.
As a result, four Bored Ape NFTs, along with ten more from related collections by Yuga Labs, were stolen with a total estimated worth of approximately $3 million. [28] $1 million worth of funds were transferred into the hacker's account. [23] On April 30, 2022, Yuga Labs launched its metaverse Otherside, as a collaboration with Animoca Brands.
Last month, YouTube said it was exploring what proponents call Web3 technologies such as non-fungible tokens (NFTs), which are video clips, art or other digital assets tied to the record-keeping ...
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Utilizing smart contracts, NFTs can automate the distribution of royalties upon secondary sales, ensuring artists obtain a predetermined percentage. [4] The embedded smart contracts within NFTs enable transparent and pre-agreed upon royalty distributions, reducing potential disputes and ensuring that original creators are compensated for subsequent sales. [5]
Washington’s state government in 2022 made NFTs subject to sales tax and other taxes, and Puerto Rico has explored the possibility, including drafting laws that treat NFTs as part of digital ...