Beeple NFT Sold for Record-Setting $69.3M at Christie's Auction
Just when you thought NFTs couldn't get any crazier.
A piece of digital artwork has sold for a mind-blowing $69.3 million at auction.
Storied auction house Christie's has wrapped its sale of "EVERYDAYS: THE FIRST 5000 DAYS" by crypto artist Beeple.
The winning bid just after 10:00 a.m. ET for the non-fungible token (NFT) was a staggering $60.25 million. The buyer's premium upped the final price to $69,346,250.
In the final minutes of the auction, the price jumped from the $20 million range to over $50 million.
It's by far the largest known sale of an NFT, a special type of token that lives on the Ethereum blockchain and proves digital ownership of its associated media.
Read more: What Are NFTs and How Do They Work?
Ether was supported as a payment option in a first for the 255-year-old auction house. At press time, it is unclear if the buyer used fiat or crypto to buy the now-famous Beeple.
Beeple's previous record-breaking auction was in February on NFT marketplace Nifty Gateway. That piece, a video clip of a digitally illustrated Donald Trump lying face down in the grass, sold for $6.6 million in ETH.
According to the New York Times, the most expensive painting ever sold was a Leonardo da Vinci that went for $450.3 million in 2017.
This is a developing story and will be updated.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
