Deal With It: meme sells for $ 22,000 as an NFT digital asset | Finances

The market for non-fungible tokens (NFTs) continues to grow, allowing the capitalization of even iconic internet memes. This time, the classic “Deal With It” was registered as a digital asset and auctioned by the NFT Foundation platform on Thursday night (04). The bids were made using the ether cryptocurrency. In the end, the piece sold for 15 ETH, approximately $ 22,000.

Original Meme “Deal With It” (Image: Reproduction)

The auction opened under the initial bid of 5 ETH, roughly $ 7,500. Lasting only two and a half hours, the buyer was an unidentified user who increased the bid in the last two minutes, from 10 ETH to 15 ETH, becoming the new owner of the meme.

Designer explains meme creation

In the description of the auction, Ryder Ripps, the designer responsible for creating the meme “Deal With It”, explained a little of its history and popularization through the social network dump.fm that he helped to found.

“In 2010 I created the meme“ Deal With It ”providing a template in Photoshop for users of my social network dump.fm. The platform’s slogan was “Talk to Images”. It was a kind of chat room where users posted images in real time. A lot of art and aesthetics of the internet was born on dump.fm ”, said Ripps.

He adds, saying that “Deal With it” was the most widely used image that came out of the platform. Yesterday’s auction, 11 years after its creation, was for full rights to the Photoshop image, meme, and template used to create it.

However, it is interesting to note that, in practice, it is almost impossible to actually prove that Ripps is its creator, however likely this is to be true. The dump.fm platform was closed in 2017, but it is possible to check the archived chat history.

In an interview with The Verge, the designer stated in all words: “I did it”. He also went so far as to say that it would be “too stupid” to lie about the ownership of the meme ”.

Total rights to a meme are sold

Something quite unique about this sale is that Ryder Ripps has assigned all rights to the image and file to the new owner of the NFT. In similar situations, digital artists sell, in non-fungible tokens, one or more limited copies of a given author’s creation, as well as physical works in galleries and auctions. However, the designer stated: “Personally, I don’t agree with that. It seems strange to me. ”

In this way, the new owner, if he so wishes, could even bring to justice the use of the meme in the most diverse situations of the internet as misuse of image, something unprecedented for something that is essentially a widely known joke.

However, as this is something unprecedented, the rights that Ripps himself had over its creation are also uncertain. He created the template in Photoshop, which was then widely used as a meme and in the creation of several other derivatives. However, the pixelated image of the sunglasses already existed and is not of his authorship, for example.

That said, Ripps also told the The Verge who is not concerned with these issues. “I think it would be an interesting chapter in the history of the internet,” he said. “What is the worst thing that happens if they do this? Someone having to take something off the air with this meme? Who cares? There are more memes in the world. ”

“Nyan Cat” was also sold as an NFT

Nyan Cat (Image: Reproduction)

Nyan Cat (Image: Reproduction)

Another popular meme that turned into NFT to then be sold was the classic GIF of “Nyan Cat”, the cat / toast that travels through space leaving a rainbow trail. Chris Torres, the artist behind its creation, remastered the original animation and sold it through the Crypto Art Platform Foundation.

However, the auction was much more intense than that of “Deal With It”. The winning bid was 300 ETH, worth approximately US $ 447 thousand. Another difference is that Torres sold a remastered copy of the original GIF, but did not assign his copyright to the meme.

With information: The Verge

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