Yesterday Christie’s unveiled the winner of the $69 million NFT Art auction of Beeple’s First 5000 Days. The buyer goes by the pseudonym of Metakovan, and is the financial backer of a nonfungible token (NFT) investment fund Metapurse.
For those unfamiliar with nonfungible tokens, they use blockchain to enable someone to purchase an authentic right in something unique, whether that’s art, virtual property in a game or a sports collectible. However, the authenticity only works if you’re confident it was the artist that issued the token rather than a fraudster.
In terms of the Christie’s auction, the artist Mike Winkelmann (Beeple) auctioned off a collage of art he created every day for 5000 days and it looks like the crypto crowd dominated the auction.
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