What follows is one of two pieces we are running on NFTs. See another take on NFTs here.
It was the Beeple heard round the world: on Thursday, March 11th, Christie’s sold a collage of digital art images for 69 million dollars. Beeple, real name Mike Winkelmann, is the artist responsible for the work; this makes him the third-highest selling living artist behind Jeff Koons and David Hockney. Prior to the sale, Beeple had made a modest artistic practice out of posting original 3D images online daily. Most of these “everydays” are technically competent but nondescript abstracts—the sort of thing that you might use as a desktop background. Recently they’ve grown more referential, including images of a breastfeeding Donald Trump, Tiger King dethroned, and the coronavirus as a scifi movie monster. How, exactly, did Beeple’s work find itself in the rarefied air of a Christie’s auction, outselling the likes of Lucien Freud and Damien Hirst? The answer, I suspect, has a lot to do with his chosen format for sale: an ‘NFT’, or non-fungible token.Continue reading