- Beeple is among several well known NFT artists, who makes digital art, and sells them in the form of NFTs.
- His most well known art is known as “Everydays – The First 5,000 days,” which got sold for $69 Billion.
- NFTs are Non Fungible Tokens, and cannot be interchanged with each other unlike crypto assets which can be exchanged with each other.
A Life Changing Art
Mike Winkelmann, popularly known as Beeple, is a digital artist, prominently known for his digital art “Everydays – The First 5,000 Days.” Which got sold for $69 Million at Christie’s. This sale sent him among Top 3 most valuable living artists.”
The record breaking digital art salt came after months of escalating valuable auctions. During October 2020, Beeple sold his NFT series. The pair sold for $66,666.66 each. In December, he sold digital art worth $3.5 Million. And once again, the NFT he sold for $66,666.66 was sold again for $6.6 Million.
NFT is a Non Fungible Token, distinct files on live blockchain which are able to validate ownership of a work of virtual art. Acquirers typically get restricted rights to exhibit digital art they represent.
Why Is Beeple NFT So Valuable?
A handful of factors explains why Beeple’s digital art became such a prized possession. One of the factors is he has built a massive fanbase, with about 2.5 Million followers across social channels. And he is famously prolific: as element of a project known as “Everydays,” Beeple makes and issues a latest digital art “every day.”
NFT market has boomed. If we look at the past couple of years. For collectors who thinks that digital art will be acquired and traded going forward, the elevating values are nothing in contrast to what NFTs will be worth down the path, when rest of the planet has caught on to their value.
The $69 Million piece, Everydays: First 5,000 Days was a collage of Mike Winkelmann’s work initiating at the beginning of the project, when he was making some crude sketches and posting them. It runs through years of years of evolving virtual shapes and sceneries up through the initiation of project, when posted extremely crude political digital arts.
For the ones who are new in NFT sector believe that tech is here to stay. The purchaser of Beeple NFT worth $66,666.66, Pablo Rodriguez-Fraile, resold that NFT 100 times , that too just 4 months later, initiated collecting digital art a year ago and co-founded Museum of Crypto Art in part for exhibiting his evolving collection.
Source: https://www.thecoinrepublic.com/2022/04/22/when-beeple-made-69-million-with-digital-art-nft/