I Watched a Painting Burn then Re-emerge as an NFT

NFT technology was first introduced in 2015, hitherto, it’s a one-of-a-kind digital token, not a coin. The Non-Fungible Tokens (NFTs), like cryptocurrencies, are maintained on digital ledgers to keep track of who owns them. The fact that each token is linked to digital assets is what distinguishes NFTs, which also explains the technology’s current popularity.

Rob Prior, a Marvel and DC Comics artist, lit an actual painting on fire in an NFT Livestream event, resulting in a digital ERC1155 NFT that was auctioned exclusively on the Mogul platform for 24 hours. The Wolf of Wall Street served as a metaphorical inspiration for the artwork, which serves as a metaphor for the incorporation of art and Wall Street into the blockchain sphere.

This wasn’t going to be a one-time deal. Prior also revealed his next two NFT releases during the event, featuring a Marvel-inspired Deadpool and a Star Wars painting of Luke Skywalker. Naturally, spectators were enthralled by his creative brilliance, and the event itself undoubtedly paid off for the organizers.

Mogul Productions debuted its platform earlier this year and had around 50,000 members before the NFT Livestream, which saw a significant increase in usage shortly after. According to the event summary, the NFT of Prior’s painting sold for 5,500,000 STARS tokens, or $182,050 USD, making it the first ever NFT sold on Mogul’s platform.

Mogul Productions brings together filmmakers, moviegoers, and funders in one place to ensure that the best films are made. It’s fundamentally generating a movement by giving people power, with NFTs as one of the verticals. The event “signifies the increasing trend of NFTs as they continue to consolidate their transformational value in the entertainment business,” Lisa Sun, the Founder and President of Mogul Productions, said prior to the webcast. This is where we sit back and watch as technology develops and becomes more broadly embraced.
Mogul Productions.
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