Edward Snowdens NFT sold for $5.5 million at auction for charity

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Stay Frees auction result far exceeds the already-outrageous amount of cash ($ 2.9 million) Jack Dorsey got for an NFT of his very first tweet last month. Like Dorsey, Snowden will not be taking the auctions profits: the money will go towards the Freedom of journalism Foundation, the non-profit org where he works as president..

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When an artist “mints” their work onto a blockchain so that they can make an NFT, they start a procedure that uses a lot of calculating power and energy.

Edward Snowdens NFT has offered for a tremendous 2,224 Etherium or around $5.5 million at an auction that lasted for a day. It was made using open source software application, and like other NFTs, was signed and verified.

While NFTs could assist out artists and creators, more and more individuals have begun raising issues about their environmental effect. When an artist “mints” their work onto a blockchain so that they can make an NFT, they start a procedure that uses a great deal of computing power and energy. The Freedom of journalism vows to purchase carbon offsets equivalent to the footprint of Snowdens NFT and “will share specifics on that process soon.”.

Edward Snowdens NFT has sold for a whopping 2,224 Etherium or around $5.5 million at an auction that lasted for a day. Entitled Stay Free, the digital artwork uses the pages from the landmark court judgment that discovered the National Security Agencys mass security activities to be in infraction of the law to form a picture of the whistleblowers face based on a photo taken by Platon. It was used open source software, and like other NFTs, was signed and validated.

NFTs or non-fungible tokens are generally pieces of pictures, videos and other digital things that have actually been signed and confirmed by the creator. They get ownership of an unique piece of code thats kept on a blockchain when someone buys an NFT. As we wrote in our in-depth explanation of what NFTs are,” [Y] ou can duplicate a file a thousand times and theyll all turn out the same, but just the one tied to an NFT is the real deal.”.