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  • BlockMint Technologies has acquired multiple non-fungible tokens (NFTs) by renowned digital artist Pak
  • Pak’s digital artwork sold for more than US$17 million at a Sotheby’s auction
  • BlockMint plans to acquire NFTs from multiple genres (including art, sports, music, etc) to create a diverse portfolio of NFTs
  • An NFT is a unit of data on a blockchain where each NFTcan represent a unique digital item
  • The updated Minter browser, available in May, will allow users to use their spare computing power to mine cryptocurrencies
  • Users can earn either carbon credits to help offset their carbon footprint, or fractional ownership in an NFT
  • BlockMint technology enables blockchain-based applications such as cryptocurrency mining
  • BlockMint Technologies Inc. (BKMT) is down 12.90 per cent, trading at C$0.27 per share at 12 noon ET

BlockMint Technologies Inc. (BKMT) has acquired multiple non-fungible tokens (NFTs) by renowned digital artist Pak at last week’s highly publicized Sotheby’s auction.

A series of digital artworks created by an enigmatic artist, who goes by the pseudonym Pak, sold for more than US$17 million at the auction. Top prices were paid for Pak’s digital artworks that showcased a level of market savvy and gamelike complexity that would be impossible with a canvas or sculpture in real life.

BlockMint plans to acquire NFTs from multiple genres (including art, sports, music, etc) to create a diverse portfolio of NFTs in support of the upcoming release of a new feature to its distributed crypto-miner browser “Minter” which will allow users to exchange their earned cryptocurrency for fractional ownership in an NFT from the BlockMint portfolio. 

BlockMint’s CEO, Nelson Ijih commented:

“The acquisition of NFTs by the renowned digital artist Pak is a real accomplishment for BlockMint as it builds its NFT portfolio in support of the release of its upgraded Minter browser next month. We will continue to expand our collection of NFTs in support of the new browser in the coming months thru in-house creations and purchases of third-party created NFTs.”

An NFT is a unit of data on a blockchain where each NFT can represent a unique digital item and thus they are not interchangeable. NFTs can represent digital files such as art, audio, video and other forms of creative work.

While the digital files themselves are infinitely reproducible, the NFTs representing them are tracked on their underlying blockchains and provide buyers with proof of ownership.

Once released, the upgraded Minter browser will allow users to use their spare computing power to mine cryptocurrencies to earn either carbon credits to help offset their carbon footprint, or fractional ownership in an NFT.

The updated version of Minter is expected to be available for download in May 2021 for use on desktops and laptops with a Windows operating system. Support for additional operating systems (MacOS, Linux) will be added later this year.

BlockMint, through its wholly-owned subsidiary, Blockmint (USA) Technologies Inc., develops distributed systems and networks that enable a more decentralized deployment of blockchain-based applications such as cryptocurrency mining.

BlockMint Technologies Inc. (BKMT) is down 12.90 per cent, trading at C$0.27 per share at 12 noon ET.

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