“I jokingly put up a colleague’s photo at an NFT auction and sold it for $40.” How to make money selling images on the Internet?

The Ukrainian meme "Chew an Ass" — an excerpt from the Toronto TV  — was auctioned off at the auction, held on the OpenSea platform, for $2,500.

The Toronto TV reported this in a post on Instagram.

There are countless examples of almost meaningless deals in the new NFT auctions. So, for example, in March, the head of Twitter, Jack Dorsey, sold his first tweet for $2.9 million in the form of an irreplaceable token, NFT. At the same time, the tweet didn't disappear from the social media, and its new owner, the CEO of the Malaysian startup Bridge Oracle, Sina Estavi, cannot change it or transfer it offline.

The tweet was being sold on Cent's Valuables website; the auction lasted 2 weeks, and the starting price was $1.

Two weeks earlier, the painting "The First 5000 Days" by the artist Beeple was sold at the Christieʼs auction; he was previously unknown, and the cost of his works started at $100. But by displaying a collage of 5,000 pictures that he had been drawing daily since 2007 as an NFT token, the artist made $69.3 million.

The supporter of trends Elon Musk also got involved in the sale of NFT in March, when the market literally exploded and set new records for the prices of lots every day. So, Techno-king Tesla also put up a track with a video for sale for $1.2 million, but later withdrew the lot from the auction.

Why would someone need the right to own a digital object, what is an NFT token, and why will NFT deals become an important part of smart contracts? Rubryka analyzed.