Crypto News

Beeple sells NFT for over $69 million

A NFT by Mike Winkelmann, titled “Everydays: The first 500 Days” was auctioned off by Christie’s for exactly $69,346,250. Mike Winkelmann, known as Beeple, is a graphic artist who has been producing digital art for nearly 15 years. His collection features a piece from everyday over a number of years of work. This now becomes the record amount ever paid for a Non-fungible token (NFT). Winkelmann’s reaction was, well, how we all would react to such a sale.

NFTs are digital collectibles or tokens that are meant to be one of a kind. Once uploaded by the creator, they are encoded in blockchain and when purchased by the buyer, the owner can say the she or he owns a one of a kind piece of art, whether it be visual art, music, or a combination of both. Using Etherium blockchain, the owner’s token is unique, and are unlike any other token in contrast to bitcoin where one’s bitcoin holds the same value as another’s bitcoin (this is why NFTs are “non-fungible”; they are one-of-a-kind).

On Tuesday, former T-Mobile CEO John Legere set a record by purchasing a NFT from DJ Steve Aoki for nearly a million dollars.

What do you think of one of the pieces in the collection?

Image: Christie’s

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