A 10-second video clip just sold for $6.6 million

[Morrison71]

Between this and the NBA hot shot thing, I’m not sure what’s going on with this world. I must be getting old.

LONDON (Reuters) - In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million.


The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it and that it is the original work.


It's a new type of digital asset - known as a non-fungible token (NFT) - that has exploded in popularity during the pandemic as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online.
Click to shrink...

 

[Fluffles]

Breaking: people are dumb.

 

[noleclone2]

We are doomed.

 

[NDallasRuss]

So apparently I can *buy* a video clip of some guy I've never heard of, making a layup. It'll cost me at least $9595. I won't even be the only one that owns this video clip, since there are 99 of them.

Why would anyone think this is something worth spending money on?

Tyler Herro incapacitates defense with fake pass-finger roll combo | NBA Top Shot

Jan 9 2021 — Tyler Herro’s run of creative buckets is just getting started. The Miami Heat sophomore drives baseline against the Washington Wizards, hits rookie Deni Avdija with a perfectly timed pass fake then floats in a finger roll with ease on January 9, 2021.

www.nbatopshot.com

 

[noleclone2]

So apparently I can *buy* a video clip of some guy I've never heard of, making a layup. It'll cost me at least $9595. I won't even be the only one that owns this video clip, since there are 99 of them.

Why would anyone think this is something worth spending money on?

Tyler Herro incapacitates defense with fake pass-finger roll combo | NBA Top Shot

Jan 9 2021 — Tyler Herro’s run of creative buckets is just getting started. The Miami Heat sophomore drives baseline against the Washington Wizards, hits rookie Deni Avdija with a perfectly timed pass fake then floats in a finger roll with ease on January 9, 2021.

www.nbatopshot.com

This whole thing hurts my brain.

Like trying to figure out when time began or the size of the universe hurt.

 

[coloradonoles]

A fool and his money are soon parted.

 

[bladel]

Money laundering.

 

[NDallasRuss]

This whole thing hurts my brain.

Like trying to figure out when time began or the size of the universe hurt.

Exactly!

Like, at a fundamental level, I don't get it. I can go to youtube or wherever and pull up the same clip for free.

I might get it if it were some important piece of history caught on video, and no one could see it unless I told them they could/licensed the rights/sold it to them, etc. Like if I owned the Zapruder film and wanted to sell it. But this ain't that.

 

[Formerly Rockymtnole]

Bidding starts at $2.00, no reserve

 

[whatsup13579er]

Whoever spent $6.6M on that "Trump Art" has too much money and obviously needs to give some of it to me.

The NBA has to be LOL'ing that they've made $250M on this.

 

[Fan In Black]

I just watched it for free

 

[Old_wrestling_fan]

Breaking: people are dumb.

Well that and they have too much stimulus money in their pockets.

 

[noleclone2]

Well that and they have too much stimulus money in their pockets.

I was thinking maybe this is what the people are doing with their GamesStop stock.