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  • a digital artwork sold for nearly $70 million at Christie's on Thursday.

  • It's the first sale ever in a major auction house of a piece of art that does not exist in physical form.

  • I don't even it's I yeah.

  • Just hours after the sale of the artist Mike Winkelmann, also known as People, was stunned.

  • 22 million people logged in for a chance to own his work.

  • Christie says.

  • The closing bid put him in the top three most valuable living artists.

  • It's like an unfathomable number.

  • To be quite honest.

  • It's just crazy.

  • The work, titled Every Day's the 1st 5000 Days, is a collage of 5000 images he made over more than 13 years, and its exceptional success is part of a frenzy for what is known as non fungible tokens or N.

  • F.

  • T s.

  • That's when a digital asset is authenticated by Blockchain, which certifies its originality, and ownership enthusiasts and investors are pouring into what they see as a new way to invest.

  • And without it, people says, there was no legitimate way to buy digital art.

  • Digital artists design websites, they design apps, they design, um, you know, TV shows how TV shows look.

  • They design how characters looking movies and, you know, sci fi and marvel, and that's all digital artists.

  • So they have a huge, huge impact on the visual language of the world.

  • And so I think now being able to collect them and sort of look at them.

  • As you know, real artist.

  • I'm super super excited about with N.

  • F.

  • T s, the artist royalties are locked in the contract.

  • People receives 10% each time the work changes hands.

  • And it's not just digital art that can be minted as FTS music albums, sports collectibles, even tweets are being minted.

  • Twitter CEO Jack Dorsey is gearing up to sell his first ever tweet as an N F.

  • T.

  • Despite the hype, though some have warned of risks.

  • One Cryptocurrency lawyer in New York says that N.

  • F.

  • T s raise issues linked to insurance, tax and intellectual property.

  • Still, he told Reuters he expects the entire physical art market to digitize towards N.

  • F.

  • T s in the next five years.

a digital artwork sold for nearly $70 million at Christie's on Thursday.

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Digital-only artwork auctioned for nearly $70 million

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    林宜悉 posted on 2021/03/13
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