Sitemap

Beeple Digital Artwork Auctioned For A Record $69 Million

More...

Picasso Pieces Worth About $100m To Be Auctioned In Las Vegas

Sotheby’s to sell 11 works in Bellagio...

Hundreds Of Behind The Scenes Photos From The Harry Potter Films Are On Display In London

Hundreds of behind-the-scenes images from the Harry...

28 Of The Most Fascinating Of The Most Public Sculptures

The world’s most powerful public sculptures from...

€177.6m For Development Of Digital Economy, Innovative Business

Prime Minister Ana Brnabic chaired today the first session of the Council for Encouraging the Development of Digital Economy,...

FDA Panel Backs COVID-19 Boosters Only For Elderly And High-Risk

Dealing the White House a stinging setback, a US government advisory panel overwhelmingly rejected a plan Friday to give...

EIB Continues Supporting Faster And Greener Economic Growth And EU Accession Of Serbia

The European Investment Bank (EIB), the bank of the European Union, will continue to provide hands-on support for fast,...

EU Special Representative Miroslav Lajcak To Visit Serbia

The European Union Special Representative  (EUSR) for the Belgrade-Pristina Dialogue and other Western Balkan regional issues, Miroslav Lajčák, will...

EBRD Supports Modernisation Of Serbia’s Elektrodistribucija

The European Bank for Reconstruction and Development (EBRD) is extending a €40 million loan to Serbia’s electricity distribution company, Elektrodistribucija Srbije...

Christie’s auction house in London had until now only sold physical works of art. Beeple’s digital piece has become the third-most-expensive work sold by a living artist.

Art is always about the original. For many collectors, works of art are an investment, a prestige object — and also a tangible one.

For the first time, the renowned London-based auction house Christie’s auctioned off on Thursday a purely digital work of art — a collage of 5,000 pictures by US artist Mike Winkelmann, known as Beeple.

Back on February 25, the starting bid was $100 (€84); after 10 minutes, that sum hat reached $1 million, and just five hours before the auction closed on March 11, it topped $13 million. In the end, it was auctioned off for a baffling $69.3 million (about €58 million).

Art market turning point? 

Interest in digital art is on the rise. And thanks to technical achievements, you can now actually own digital works of art. NFT — short for “non-fungible tokens” — is the magic word. Put in simple terms, NFTs are certificates of authenticity attached to the digital artwork that identify the owner.

It is still “uncharted territory” for Christie’s, the British auction house’s specialist, Noah Davis, told the Reuters news agency — unlike on the internet, where NFTs are already used. For instance, people can buy and trade NBA digital trading cards — short video clips of highlights from basketball games. Clips of basketball pro LeBron James are particularly popular.

In mid-February, a 10-year-old cat meme sold for almost $600,000, causing a stir on the web.

The work on sale this week at Christie’s was not even Beeple’s first big sale. Last year, he sold a 10-second video clip for $67,000. In October 2020, Pablo Rodriguez-Fraile was listed as the owner of the original artwork registered in a blockchain database. A few months later, at the end of February, he sold it for $6.6 million on the Nifty Gateway platform — and Beeple pocketed 10% of the sales price.

NFT — hype or revolution?

Observers say change is coming on the art market. Skeptics fear NFTs are just a hype that will pass again, a fact hotly debated in detail on the Clubhouse social media app, writes Anika Meier in her column for Germany’s Monopol art magazine. Meier wonders what people do with digital art, how they show their collection. Beeple allegedly said in a conversation on Clubhouse he could imagine a print, but also an installation on the facade of a museum or a presentation on a screen.

Meanwhile, brisk bidding continues on platforms like Nifty Gateway, SuperRare and MakersPlace.

Just recently, Canadian singer Grimes, the wife of Tesla founder Elon Musk, auctioned off her War Nymphs collection of digital paintings, animations and video clips for almost $6 million.

Twitter CEO Jack Dorsey is currently auctioning off his very first tweet on the “Valuables by Cent” platform. In that famous tweet, available for anyone to see, he announces that he is setting up his Twitter account. Whoever ends up buying that tweet will receive a digital certificate. The highest bid had reached $2.5 million by March 9; the auction runs until March 21.

This article has been translated from German by Dagmar Breitenbach.

Related Articles

Picasso Pieces Worth About $100m To Be Auctioned In Las Vegas

Sotheby’s to sell 11 works in Bellagio hotel and casino, in one of most valuable Picasso auctions yet Las Vegas: the city of sin, where...

Hundreds Of Behind The Scenes Photos From The Harry Potter Films Are On Display In London

Hundreds of behind-the-scenes images from the Harry Potter films form the heart of a new exhibition in London marking 20 years since the Boy...

28 Of The Most Fascinating Of The Most Public Sculptures

The world’s most powerful public sculptures from Marseilles to Melbourne, Vancouver to New York City Sometime during the past few centuries, one could argue that...

Icons Of European 1970s Design

Designs That Stand The Test Of Time

The 1970s arguably represented the culmination one of the most inventive eras of French and Italian design. This was the decade that saw the...

Morrissey Accuses Simpsons Of ‘Complete Ignorance’

Morrissey has accused The Simpsons of "hatred" and "complete ignorance" after he was parodied in a recent episode. In a letter on his website, the...

40 Years Later: Where Are The Singers From ABBA Today?

ABBA was a popular group consisted of two married couples, but with the collapse of their relationship, pop group consequently broke up. Where is Ani-Frid...

Art

10 Portuguese Painters You Need To Know About

Portugal has been home to many different styles of art over the centuries. The artists behind these works are still celebrated today, but with...

Centenary Of The Release Of The First Issue Of “Zenit”

Awaiting The New Avant-garde

The story of Zenit and Zenitism is a world story - whether people like it or not. And the National Museum of Serbia missed...