$69.3 Million NFT Sale - Beeple's "The First 5,000 Days" Becomes Most Expensive Piece of Digital Art Ever

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$69.3 Million NFT Sale - Beeple's "The First 5,000 Days" Becomes Most Expensive Piece of Digital Art Ever

The NFT boom continues - Beeple's "The First 5000 Days" becomes most expensive digital artwork ever

  • "The First 5,000 Days", a piece by prolific digital artist Beeple (Mike Winkelmann), was sold for $69.3 million in an auction held by Christie’s.
  • The $69.3 million sale is a potentially groundbreaking event for the art world as a whole. "The First 5000 Days" is an artwork that exists in digital form only, and its ownership is represented by a NFT (non-fungible token) on the Ethereum blockchain. It’s the most expensive sale for a digital-only artwork in history, and the third most expensive artwork by a living artist.
  • A NFT is a unique token issued on a blockchain that can be used to easily prove ownership. NFTs can be used to represent ownership of art, video game items, collectibles, or even real-world objects.
  • Through his "Everydays" series, Beeple has been releasing one piece of digital art every day for more than 13 years. As the name implies, "The First 5,000 Days" is a composite of the first 5,000 pieces that Beeple has released as part of the series. The piece itself is a square image of 21,069 by 21,069 pixels in a .jpg format containing the 5,000 artworks in a mosaic.
  • Christie’s accepted ETH in the auction. However, it’s unclear at this time if the buyer decided to pay with ETH or with fiat currency.
  • NFTs are currently enjoying a boom, and Beeple’s $69.3 million artwork could bring further legitimacy to the usefulness of the technology in the art world. However, the NFT craze is not just limited to art - NBA Top Shot, a platform where users collect NBA highlights as NFTs, saw $12.6 million worth of sales in the last 24 hours, according to data provided by Crypto Slam.

Peter has been covering the cryptocurrency and blockchain space since 2017, when he first discovered Bitcoin and Ethereum. Peter's main crypto interests are censorship-resistance, privacy and zero-knowledge tech, although he covers a broad range of crypto-related topics. He is also interested in NFTs as a unique digital medium, especially in the context of generative art.

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