YouTube Star Jake Paul is looking to get $10 million for an NFT of his knockout punch on a fight club event that happened last year so let’s read more in our latest cryptocurrency news today.
To celebrate the launch of the new NFT marketplace, social media company Triller created a “controversial” NFT of YouTube star Jake Paul when he landed a knockout blow on former NBA player Nate Robinson. The punch happened during a “Fight Club” event at the Staples Center, LA back in 2020. Bidding starts at $10,455 but now you can buy it for $10 million. The Los Angeles-based Triller became popular via its online short video sharing app which similarly to TikTok, allows users to share and enjoy small videos on the platform.
Triller’s Jake Paul Knockout Punch NFT arrived one week before Paul’s next match against Ben Askren. The auctions for the NFT conclude at the end of the next match which are the last 30 seconds of which will be incorporate into the NFT for the winning bidder in the first “NFT Future” as Triller put it. If you have been following blockchain or sports collectibles over the past year, you will have already heard about NFTs. NFTs are digital assets that can be traded like real-life collectibles thanks to the blockchain.
Blockchain’s cryptographically secure distributed ledger system hasn’t been only enabling hundreds of new currencies to be created but it was responsible for the boom when it came to digital collectibles. The NBA is in on it as well as there a basketball trading card range NBA Top Shot which hit as much as $32 million in trading volume in one day last year. The Tampa Bay Buccaneers’ Gronkowski minted a few NFTs of himself in action and acquired $1.6 million at the time of sale.
Wonder how NBA Top Shot Moments were designed?
— NBA Top Shot (@nbatopshot) April 8, 2021
Hackers will have to commandeer 51% of the computing power of the ETH network to change the values on the DLT which means that whoever wins the KO NFT will have a token of the fight. This is until an advanced computing empire comes to overturn the status quo of the machines of the world.
As recently reported, The artist M.I.A announced an NFT art series with the first drop coming this Thursday on Foundation. The piece is called “GIFTY 1” and is a part of a collection called NFT Garage Dance while also planning a new follow-up called “Kala COYN.”
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]