On March 11th, Beeple, the artist, sold the work “Everydays – The First 5000 days” for 69 million dollars (about 388 million reais) in an auction. In the same month, DJ Steve Aoki created a series of collectible stickers based on his songs and made 4.25 million dollars (about 23 million reais) in just one weekend. This would be common news if not for one detail: neither the artwork nor the stickers are part of the real world. They only exist in digital version, which is known as NFT, the new Internet craze.

NFT is the acronym for “non-fungible tokens”, which means that the images cannot be replaced or exchanged. Each NFT has a code that is a proof of authenticity. The code can be linked to drawings, videos, music, GIFs or even memes. During the year in which the pandemic closed many art galleries and prevented live artistic performances from taking place, technology became a way for artists to earn extra income.

Some are critical of the novelty, mainly because a lot of electricity is used to generate the code in a process run by several computers. Experts fear that the same thing is already occurring with bitcoins, a digital currency that uses the same technology to create codes and that currently consumes more electricity than Argentina, according to a survey by the University of Cambridge, in the United Kingdom, released in February.

Questions
1) What is the function of an NFT code?
a) Make the sale easier
b) Control the year of production
c) Ensure that it is authentic
d) Convert it into a physical product

2) What do you think of NFTs?

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