A hand-painted "self-portrait" by the world-famous humanoid robot, Sophia, has sold at auction as a non-fungible token, or NFT, for more than $688,000.
Titled "Sophia Instantiation," the digital work is a 12-second MP4 file showing the evolution of artist Andrea Bonaceto's portrait into Sophia's digital painting, and is accompanied by a physical artwork.
Bonaceto is an artist and partner at blockchain investment firm Eterna Capital. The work shows Sophia "interpreting" a depiction of her own face, which was processed by the robot's neural networks, and then painting an interpretation of the image.
The sale is the latest art-focused NFT, an encrypted digital signature that has spawned a frenzy on Wall Street and in the arts and sports markets in recent months.
From digital sports cards from "The Gronk" to a limited premiere music release from band Kings of Leon to a single digital copy of a Banksy being burned, NFTs are opening a new digital realm of buying, selling, trading, collecting - and investing.
NFTs are cryptographic tokens similar to bitcoin or Ethereum. Unlike cryptocurrencies, however, NFTs can be digital art, an experience, a collectible, and many other things.
Shares of entertainment marketing and content company Dolphin Entertainment (DLPN) soared on Wednesday after it said it formed a new NFT division that will allow fans of professional football and sports entertainment to buy and sell exclusive content developed by Hall of Fame Resort and its partners.
Watch the video here to learn more about NFTs and why they aren’t just the latest fad, or take a look at some of Jim Cramer’s and TheStreet’s coverage of bitcoin, cryptocurrencies and digital assets: