Wow! NFT mania is running wild! We’ve just witnessed history being made, as the digital art record has been smashed. A Beeple artwork has sold for an eye-watering $69.3 million.
Those of you who are hearing the word Beeple for the first time, he is Mike Winkelmann, an American digital artist and graphic designer. Besides the exceptional quality of his art, he’s known for “Everydays”, a series that involved him creating a piece of art every day.
It’s a collage by him titled “Everydays: The First 5000 Days” that has just scored this extreme valuation. A composite of digital images that he created each day for more than 13 years, measuring 21,069 x 21,069 pixels.
Christie’s opened bidding on February 25 at just $100.
It was the first purely non-fungible token to be sold by the auction house, which had previously sold Block 21, an NFT that had an accompanying physical painting for around $130,000 in October 2020.
Mike reacted to the sale with:
— beeple (@beeple) March 11, 2021
This sale illustrates the stratospheric potential for NFTs, with the price tag placing Beeple among the top three more valuable living artists.
It also demonstrates efforts by auction houses to cultivate a new generation of collectors, particularly millennials. According to a breakdown of bidders for the Beeple piece, 91% were new to the auction house, and 64% were millennials and Gen Z.
Time for jubilation, or time for alarm?
We are, after all, living a mania!
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