Mike Winkelmann aka Beeple sold an NFT for over $69 million: What are NFTs?

Digital artist Mike Winkelmann, who goes with the nickname Beeple, sold an NFT on which he worked for many years for over 69 million dollars.

NFT mania has been growing day by day, with more and more digital artists joining the crew. This time we see a popular digital artist and designer who has been working on the project he sold for over 69 million dollars for 5000 days. That’s right – Beeple has worked on this NFT for over thirteen years. And now, he sold it as a non-fungible token for over 60 million dollars on Christie. You can check out the details of the artwork here.

The platform explained the importance of the work EVERYDAYS: THE FIRST 5000 DAYS of Beeple as below:

“On 1 May 2007, Mike Winkelmann, aka the digital artist Beeple, posted a new work of art online. He did the same thing the next day and the next, and the next one after that, creating and posting a brand-new digital picture, or ‘everyday’ as he called it, every single day for 13-and-a-half years. Now those individual pieces have been brought together in EVERYDAYS: THE FIRST 5000 DAYS, a unique work in the history of digital art.”

What are NFTs?

Standing for “non-fungible tokens”, NFTs are digital goods that cannot be exchanged for the same kind, meaning they are unique. They work on Ethereum network, and they cannot be stacked like any other cryptocurrency, which makes them an excellent way to store and share digital artwork, which needs to be unique and exclusive.

Many artists like Beeple are creating new digital artworks and selling them for huge amounts of money nowadays. Grimes was one of them too, selling her NFTs for over six million dollars. Many people apparently think buying NFTs now is like buying antiques in the past, so this might be a form of investing for the %1. We’ll see what the future will bring.

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