Beeple’s NFT sells for $ 70 million and breaks record in the arts

beeple's nft
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Beeple’s NFT being sold by the traditional auction house Christie’s, becomes the third most expensive work of art by a living artist in history

The Beeple’s NFT record sold by Figma CEO Dylan Field was short-lived. Hours after negotiating his CryptoPunk # 7804 for more than $7.5 million, the NFT ever more expensive of all time has been broken, and by a wide margin: the work “Everydays: THE FIRST DAYS 5000”, the renowned digital artist Beeple, whose auction ended on Thursday, 11, was bought by incredible 69.3 million dollars.

The work was negotiated by the traditional British auction house Christie’s, in the first operation involving digital art in its more than 250 years of history, in partnership with the website specialized in NFTs MakersPlace.

The value places Beeple’s work not only as the most expensive in the history of NFTs, but also as the third most expensive of any living artist, including traditional works that have nothing to do with blockchain, cryptography and the internet. This ranking is led by works by Jeff Koons and David Hockney, whose works were traded in 2019 and 2018, respectively, for amounts close to $90 million.

NFT
Source: NY Times: “Everydays — The First 5000 Days” is a collage of all the images that the artist known as Beeple has been posting online each day since 2007. Credit: via Christie’s

Beeple is one of the best known names in the world of digital art and NFTs. Before the conclusion of the auction at Christie’s, he had already accumulated almost 30 million dollars in works sold, according to Crypto Art – at the end of 2020, he sold a collection for 4 million and, in February of this year, the work “CROSSROAD” for 6 , 6 million dollars.

The work “EVERYDAYS: THE FIRST 5000 DAYS” brings together the first 5,000 drawings made by him since May 2007, when he decided to create the project that includes the creation of a digital art per day.

NFTs are unique digital assets, which contain proprietary information and other data registered in blockchain, widely used for digitization and “tokenization” of digital items such as art, collectibles or game items. In general, NFTs are maintained on the Ethereum blockchain, but other blockchains, such as Flow, also support this type of token.

The “EVERYDAYS: THE FIRST 5000 DAYS” auction started on February 25 and received 353 bids, reaching $1 million less than an hour after it opened.

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