contentType: 'application/json; charset=UTF-8', The piece, titled Everydays: The First 5,000 Days, sold for $US69.4 million ($A89.5 million) in an online auction, "positioning him among the top three most valuable living artists", Christie's said via Twitter on Thursday. What Are NFTs and Why They Are Shaking Up the Art World? | Time Christie's A JPG file made by. Until October, the most Mike Winkelmann the digital artist known as Beeple had ever sold a print for was $100. */ function setCookie(cname, cvalue, expMinutes, prefix) { It sold for $69 million. ); Everydays: the First 5000 Days - Wikipedia function slideInModal(upOrDown) { The value of crypto-traded NFT art also soared, setting prices that are out of kilter with the rest of the art market. That piece, created by Chris Torres, sold for nearly $600,000 in an online auction last month on the crypto art platform Foundation. Untitled by Jean-Michel Basquiat. as lazy minting. While he framed the primary advantages as lower costs and greater practicality, he confirmed thatby deferring the remaining on-chain transactions until an NFT has actually been purchased, these alternatives do at least modestly reduce environmental impact. Art work courtesy the artist and Christie's In the traditional art world, a. checkCookies(); [8] Both the buyer Sundaresan and the seller Winkelmann had a vested interest in driving up the price of the work, in order to bring attention to and drive sales for a speculative asset related to twenty other Beeple works, which they called "B20 tokens." Another Beeple piece, Crossroad a 10-second video NFT showing animated pedestrians walking past a giant, naked likeness of Donald J. Trump, collapsed on the ground and covered in graffiti sold for $6.6 million in Ether on Nifty Gateway. function getCookie(cname, prefix) { Everydays was the first purely digital NFT sold by Christies, and it offered to accept payment in Ethereum, another first for the 255-year-old auction house. Kelani Nichole, who first priced and sold artworks in bitcoin in 2013 as the owner of the new-media-centric. var name = prefix + cname + "="; // Signup validation , link = document.createElement('link'); Beeple's First 5000 Days, sold for $69,346,250 to Metakovan, founder of if (jQuery(window).width() > 619) { in February, he feels the key condition has been satisfied. + 'Signup failed. Since its emergence as a concept in 2008, blockchain technology generated excitement for its theoretical power to establish trustless networks of economic, cultural, and societal exchange. A JPG file made by a digital artist known as Beeple sold Thursday for almost $70 million by Christie's auction house. You are currently logged into this Artnet News Pro account on another device. prefix = 'artnet_newsletter_'; Beeple's sketchy $69 million Christie's sale is also racist and - Input Most important of all, what separates an NFT sale from a painting sale is that each of the steps above is instantly documented, time-stamped, and reviewable by any interested partynot just the artist and buyeras a discrete transaction on the blockchain.
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