A digital work of art was sold at Christie for a record-breaking $ 69.3 million
A piece of digital art sold for over $ 69 million at Christie’s yesterday morning. The event marks the first time the famous UK auction house has managed to sell an NFT (Nonfungible Token) art and the Beeple NFT is the most expensive digital art ever sold.
The artwork, entitled “Everydays: The First 5,000 Days,” is the work of Beeple, a 41-year-old illustrator from Wisconsin. It’s a collage of 5,000 images that the artist made in just as many days.
Non-fungible tokens issue blockchain-based “proof of ownership” for items such as art to ensure that artists can claim ownership of their digital works and receive compensation for it. NFT arts are becoming increasingly popular in the cryptocurrency space and are slowly gaining acceptance in the mainstream.
The eight-figure sale of the Beeple NFT is now the most expensive asset since blockchain technology began for hosting digital arts and media. This latest development will draw more attention to NFTs and help them gain more mainstream adoption over the next few months.
Miami art collector Pablo Rodriguez-Fraile told Forbes that the sale of the Beeple NFT was an extraordinary moment. “I think it’s a clear endorsement that digital art is as important as what we know as traditional art. Beeple is its clear leader and symbol.”, he added.
In addition to being the first digital art to sell at Christie’s, the Beeple NFT is also the third most expensive piece of art to be sold at auction by a living artist. Beeple NFT is just behind the $ 90.3 million David Hockney painting that sold in 2018 and the stainless steel Rabbit sculpture that sold for $ 91.1 million in 2019.
Yesterday’s event marked the first time the centuries-old auction house sold a digital NFT, and it was also the first time Christie’s accepted Ethereum as payment for works of art. The auction house plans to sell more digital art in the future.
Beeple, whose real name is Mike Winkelmann, created the digital art “Everydays: The first 5,000 days” by putting a picture online every day since 2007. The work sold yesterday is a collection of these software-drawn images, most of which depict the naughty charges against our modern, tech-obsessed life.