An NFT Artwork by Beeple just sold for an astonishing $69 million at Christie’s, making him the third most expensive living artist at auction!
Beeple, is now the third most valuable living artist in terms of auction prices, after David Hockney and Jeff Koons.
What makes a digital artwork “unique?”
Welcome to NFTs (non-fungible tokens).
Think of an NFT like a certificate. Like a piece of paper that’s signed by the artist that says, “Congrats, you now own this original piece of art. Here is my signature to make it all official looking.”
An NFT is just that. A certificate. Authenticated by blockchain, the certificate only exists once (or a few times in different versions, if the art is a series) and is linked directly to that piece of art. So, when you buy a piece of Crypto art, you really just buy the certificate – the NFT.
Thankfully, buying [email protected] is a lot easier.