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How are NFTs disrupting the art market? Beeple’s Everydays and CrytoPunk collectibles made millions at auction while Bored Ape Yacht Club drew...
The world was shocked when, in March 2021, American digital artist Beeple sold his Everydays: The First 5000 Days at a Christie’s auction for an astronomical US$69.4 million. The sum, and the fact it was the first piece of NFT art to be auctioned by a major auction house, rattled not only the traditional art industry, but also questioned the way we all collect and consume digital assets. An NFT – or non-fungible token – is an irreplaceable unit of data that’s verified on the blockchain. In an art context, this may point to either a real-life or purely digital piece, and has been touted as a solution to a ... (full story)