Beeple, who you may remember from my earlier post, has just sold an artwork for $69.3 million dollars at auction. He is now one of the three most valuable living artists.
A massive congratulations to him. 5000+ days of work and dedication to his art has paid off in the best possible way.
Since the artwork is digital, the new owner has, in reality, bought a digital token (an NFT), encrypted on a blockchain. That token is what proves their ownership. Nothing can stop you, me, or your uncle Bob from printing it out, and hanging it in the salon (once you hang a painting, a lounge room becomes a salon). If the new owner does the same, there would be no way to tell their copy from uncle Bob’s – except for the digital token.
Please check out more of his work on Instagram.