Like many enthusiasts, he also believes they could represent the future of ownership. Musicians are also getting in on the hype, with American rock band King's of Leon having launched an album as an NFT.īeeple says the explosion in NFTs is due in part to the increased amount of time people are spending online during the pandemic. Twitter Inc boss Jack Dorsey is conducting a digital auction of his first ever tweet, in NFT form.Īrt NFTs make up around a quarter of the all-time NFT sales volume ($415 million) according to, which aggregates sales history data for the Ethereum blockchain, the most commonly used ledger for recording these types of assets. Various digital objects can be minted as NFTs and traded as assets, including art, sports collectibles, patches of land in virtual worlds, cryptocurrency wallet names and even tweets. "I do really think that this is going to be seen as the next chapter of art history," Beeple said. "It's so crazy."įor NFTs, the artist's royalties are locked in to the contract: Beeple receives 10% each time the NFT changes hands after the initial sale. maybe you can put an emoji into the story," he said. "Without the NFTs, there just legitimately was no way to collect digital art," said Beeple, who makes irreverent digital art on themes such as technology, wealth and American politics.Īsked what he thought of the multi-million dollar bids on his work, the 39-year-old graphic designer, who has created concert visuals for the likes of Justin Bieber, One Direction and Katy Perry, said he was lost for words. Last month, a 10-second video clip featuring an image of a fallen Donald Trump, also by Beeple, sold for $6.6 million on an NFT marketplace called Nifty Gateway. The market for NFTs has soared in recent months as enthusiasts and investors use spare savings to buy up items that exist online. The work is in the form of a new type of digital asset - a Non-Fungible Token (NFT) - meaning it is authenticated by blockchain, which certifies its originality and ownership. The sale of the work for US$69,346,250 put Beeple in the top three most valuable living artists, Christie's said in a tweet. It is a collage of 5,000 individual images, which were made one-per-day over more than thirteen years.
"Everydays - The First 5000 Days" is a digital work by American artist Mike Winkelmann, known as Beeple. A digital artwork sold for nearly US$70 million at Christie's on Thursday, in the first ever sale by a major auction house of a piece of art that does not exist in physical form.
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