Christie’s auctions first entirely digital work of art for €58.5 million

THE first entirely digital work of art, a JPG file created by the artist Beeple, sold at auction for around €58.5 million.

This was Christie’s first NFT (Non-Fungible Token or cryptographic token) auction, of a new and exclusively binary art form.

The work, entitled, ‘Everydays: The First 5000 Days’, is a collage of Beeple’s daily digital creations, posted every day for the past 13 and a half years, has broken all records and made its creator, until recently only known in crypto art forums and among fans of the counterculture of the internet, one of the most sought-after living artists.

Mike Winkelmann, the real name of Beeple, celebrated the historic achievement with a ‘Clubhouse’ (social media app) party.

His achievement represents the consolidation of NFT as the technological framework that has given life to a new market of exclusively digital art.

Beeple’s, who uses Cinema 4D software and who five months ago had no idea what an NFT was, reacted to the news on Twitter with a loud expletive.

NFTs use ‘blockchain’ technology, which marks a turning point in the history of art, to create an unalterable record of unique and original digital content that cannot be copied without losing its cryptographic signature of authenticity.

NFTs can also generate profits for the artist each time the work changes hands.

This was also the first time Christie’s accepted cryptocurrency as a form of payment.

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