NFTs (non-fungible tokens) are the big speculative asset of the moment, so anybody who has any sort of digital object that may be of value is trying to cash in. The latest to do so is Nathan Apodaca, aka Dogface, as he is selling his viral Fleetwood Mac TikTok video as an NFT.
TMZ reports that on Friday, the video will go up for auction on NFT marketplace Rarible.com with a starting bid of $500,000. Apodaca apparently plans to use the proceeds to get his parents a house and open an event center in his hometown of Idaho Falls. There’s a catch with this NFT, though: The audio of Fleetwood Mac’s “Dreams” won’t be included in the video and the Ocean Spray logo on the bottle of cranberry juice he drinks will be blurred, since Apodaca doesn’t have the rights to sell either of those things.
For those who aren’t quite sure what an NFT is, it essentially acts as a unique certificate representing ownership of a digital asset. Wikipedia describes them with more detail, writing, “A non-fungible token (NFT) is a unit of data on a digital ledger (a blockchain) where each unit can represent a unique digital item, and thus the units are not interchangeable. NFTs can represent digital files such as digital art, audio, video, and other forms of digital creative work. While the creative works themselves are infinitely copyable, the NFTs representing them are tracked on the blockchain and provide proof of ownership of the NFTs to the buyers.”