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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.
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 ...
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.
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In the first three months of 2021, NFTs worth US$200 million were traded. [3] One of the earliest NFT projects, CryptoPunks, [4] has provided several of the most expensive NFTs. [5] There were some NFT-like projects or "proto NFTs" that pre-date CryptoPunks; Rare Pepes, for example, was released on Counterparty in 2014. [citation needed]
And yes, someone actually sold an NFT for over $69 million.
Apart from traditional cryptocurrencies, Non-Fungible Tokens (NFTs) are also commonly used in connection with money laundering activities. [100] NFTs are often used to perform Wash Trading by creating several different wallets for one individual, generating several fictitious sales and consequently selling the respective NFT to a third party. [101]
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