Buzzy digital artist Mike Winkelmann, also known as Beeple, made NFT history yesterday with his piece, “Crossroads,” earning $ 6.6 million on the secondary market through Nifty Gateway.
Like many Beeple artworks, Crossroads was inspired by the 2020 US presidential election. It was designed to feature one of two animations, depending on the outcome of the election: one a triumphant Trump and the other a forgotten and dejected one.
Originally purchased by a user named Pablo for $ 66,666.60 on November 1, the new owner, who chose to remain anonymous, paid almost 100 times more, breaking the price record for a single NFT sale. Previously, the record was held by CryptoPunk 6965, which was sold last week for 800 ETH, with a sale value of $ 1.55 million.
Beeple’s work has already wowed art collectors around the world with $ 3.5 million in sales generated during a single weekend in December at Nifty Gateway, with some of the art being resold on the same day at inflated values. more than 1000 times the original price.
Not everyone agrees on the high value placed on these pieces of digital art with Crypto YouTuber Lark Davis stating Beeple’s $ 6.6 million NFT sale was a pointless purchase:
“This Trump-themed #nft just sold for $ 6.6 million, the NFT mania is heating up big time. People who show they have more money than common sense. “
The renowned artist is in the process of breaking another record with the sale of the first NFT at a traditional auction house. Christie’s is listing the item in association with the NFT MarkersPlace marketplace for more than two weeks, until March 11.
The auction for the piece titled “Every Day: The First 5000 Days,” which began on February 25 for $ 100, has its estimated value as unknown. The listing has already received 120 offers with the latest offering at $ 2.2 million.
Comprised of 5,000 unique images produced by one each day for nearly 14 years, there are themes of society’s obsession and fear of technology, desire and resentment of wealth, and America’s turbulent political scene.
“We are at this moment where there could be a drastic change, a demographic change, a generational change, as far as what excites younger collectors,” said Christie’s postwar and contemporary art specialist in charge. from the Beeple sale. Noah Davis said Art Market Monitor. “Christie’s as an organization is really excited about a moment in time where you see $ 3.5 million in sales just appear organically out of nowhere. That’s something we want to capitalize on. “
Digital artists are not the only ones being recognized for this new era of technology with Trevor Jones seeing increased attention for his paintings converted to augmented reality. On February 25, Jones’ open edition art titled “The Bitcoin Angel” was sold. 4,157 Editions in 7 minutes at a price of 777 dollars each, which brings the artist more than 3.2 million dollars.
congratulations to @trevorjonesart
Last night “The Bitcoin Angel” Open Edition closed with 4,157 editions minted for ~ 3.2M breaking the Open Edition NG record!
– Nifty Gateway (@niftygateway) February 25, 2021