The first NFT sold by Christie’s was just bought for $69.3M

The pixel-esque collage consists of rows on rows of thumbnail-sized illustrations, many of which are heavily inspired by sci-fi culture, and represent 5,000 days of Winkelmann’s tireless practice in the computer arts.

Beeple’s work had previously made waves after Miami-based art collector Pablo Rodriguez-Fraile turned out $6.6 million for the sale of a 10-second digital animation, titled “Crossroad,” which he purchased for a somewhat cringe-worthy $66,666.66.

But it wasn’t so much an investment in Winkelmann’s art as it was his medium: NFTs, or non-fungible tokens, which grant access to information stored on highly secure blockchains. Only the keeper of the NFT can access Beeple’s original file.

Granted, anyone can see the video online now, but only one person has proof of the original file.

In a statement following Thursday’s record-breaking sale, Winkelmann acknowledged that the moment marked “the next chapter of art history.”

“Now there is a way to collect digital art,” he said.

Category: Technology

Source: New York Post