NFT

How London is becoming the centre for digital art and NFT auctions

A woman looks at an NFT titled

A woman looks at a digital art NFT titled CURIO CARDS (EST. 2017). (AFP via Getty Images)

The rise of digital art and non-fungible tokens (NFTs) has taken the world by storm this year, and as our purchasing habits continue to shift online, London has found itself at the forefront of the mania.

Since their creation in 2014, a growing number of people are now spending a fortune on things that cannot be seen or felt in real life through NFTs – from digital clothing to artwork, and from music to GIFs.

An NFT is a unique, one-of-a-kind crypto asset that enables collectors to authenticate, own and trade original authenticated versions of special digital goods on the blockchain.

In economics, a fungible asset is something with units that can be readily interchanged, like money. You are able to swap a £10 note for two £5 notes and it will

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How 2 Millennial Entrepreneurs Plan to Disrupt the NFT Art Market

  • IKONICK, a canvas-art company, blends pop culture and quotes into high-end art millennials love.
  • Now, it plans to disrupt the NFT space. It dropped its first NFT last month, earning $100,000 in sales.
  • The founders spoke with Insider about tapping into the millennial art buyer and the future of NFTs.
  • See more stories on Insider’s business page.

“Dreams weigh more than excuses.”

So says an all-white, bold font splashed across a seesawing elephant and dancing butterfly in a mystical-looking forest. It’s inspirational, colorful, and a bit magical — like a motivational Instagram meme brought to life.

It also happens to be a non-fungible token, a digital file tradable by blockchain, and the brainchild of the millennial entrepreneurs Mark Mastrandrea and Jeff Cole, the cofounders of IKONICK, an online canvas-art company. It was IKONICK’s inaugural NFT drop, sold as two different editions that raked in over $100,000

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