Source | Observer
On February 26th, cryptoartist Max Osiris wrote “low effort ‘NFT’” on his desk in pencil
He took a photo of his scribbling and uploaded it to Foundation, an exclusive, invite-only platform to share digital art. Less than twelve hours later, low effort “NFT” sold for 1 Ethereum, a form of cryptocurrency that’s worth about $1,600 at the time of writing.
Erik Martin, another NFT artist who works under the name Emta, posted a screenshot of the art piece, emphasizing how much it sold for. They wrote, “that’s it i give up. this is the most demoralizing thing ever.” Their tweet went viral in the NFT art community, which only drew more attention to Osiris’ work.
NFT (nonfungible token) artworks are just photos, animations, and videos, but when they’re uploaded through blockchain technology, they can be “minted” as authentic, and the creator can choose how many authentic editions of the artwork to produce. So, even though Osiris can theoretically copy/paste his low effort “NFT” all across the internet, or email a .JPG to anyone he wishes, the one artwork that sold for $1,600 is the only “real” one.