Andrea Bonaceto’s “AB Infinite 1” brought in £151,200, according to a tweet from ChristieInc, an art news outlet, on October 13. One of the world’s leading NFT artists described the virtual asset as an extraordinary vision. The digital interactive tapestry represents a pioneering collaboration between artist and viewer.
#AuctionUpdate #AndreaBonaceto's 'AB Infinite 1' realised £151,200. An extraordinary vision by one of the world's leading NFT artists, this digital interactive tapestry represents a pioneering collaboration between artist and viewer. @andreabonac pic.twitter.com/qXtMyrEiOK
— Christie's (@ChristiesInc) October 13, 2022
This past month, several efforts were made to invest and participate in the NFT niche. However, NFT enthusiasts have been far more cautious this year when choosing which NFTs to buy than last year when there were more activities. For example, in the same week, Sina Estavi’s $50 million valued NFT didn’t gain serious traction, with many questioning its originality.
However, regarding NFT, the Algorand platform and community have shown better momentum and success. It is a testament to the features added with each adjustment and upgrade. They provided a list of the functionalities they have put in place and are currently implementing towards NFT success via their official website.
They take pride in having a network that is highly stable, secure, and decentralized. Due to the random selection of node validators, no user has greater influence than the remaining community members.
Users can also attest to the ‘real ownership’ of NFTs because the blockchain runs a forkless platform. As a result, networks are not split, and there is no creation of duplicates. Therefore, the platform successfully preserves the qualities of NFT, a unique digital asset that cannot be duplicated.
The platform finalizes transactions on time, ruling out uncertainties. The fast transaction time also differentiates this platform from several orthodox blockchains that have scalability issues ensuing from slow transactions. The gas fees are low as well.
The Algorand platform has shown that they are dedicated to ensuring that NFTs are successful in the digital economy. They have the long-term belief that NFTs will usher in a new digital era.