On March 11, 2021, Christie’s sold Beeple’s First 5000 Days, the first purely digital NFT-based artwork ever offered by a major auction house. The monumental work achieved $69.3 million, becoming the most expensive NFT ever sold and positioning Beeple among the top three most valuable living artists.
Singapore – March 12, 2021 –Metakovan, the pseudonymous founder and financer of Metapurse, the largest NFT (unique digital assets) fund in the world, successfully bid and acquired EVERYDAY: THE FIRST 5000 DAYS, for $69,346,250 (42329.453 ETH). This breaks the record for the most expensive NFT ever sold. Metakovan acquired the artwork during a single lot auction hosted by the 255-year-old auction house Christie’s, which opened for bidding on February 25th and concluded on March 11th at 10 am EST.
The final auction price of a staggering $69+ million USD was not the only record broken in relation to the sale. The artwork was minted exclusively for Christie’s, making Christie’s the first major auction house to offer a purely digital work with a unique NFT and to accept cryptocurrency, in this case, Ethereum (Ether). Around 22 million viewers tuned in to Christies.com for the final moments of bidding.
Guillaume Cerutti, CEO of Christie’s said, “We are pleased to have brought together two distinct collecting communities – the traditional and the digital – at exactly the right moment for digital artists, for blockchain technology, and for cryptocurrency. The possibilities for what comes next in this field are inspiring and we look forward to more collaborative innovations in the near future.”
The artwork depicts a digital collage of 5,000 unique artworks created by digital artist Mike Winkelman, now famously known as Beeple, showcasing the cumulation of his work creating and posting an artwork every day consecutively for over 13-and-a-half years.
Metakovan further explains the historical importance of this acquisition: “When you think of high-valued NFTs, this one is going to be pretty hard to beat. And here’s why – it represents 13 years of everyday work. Techniques are replicable and skill is surpassable, but the only thing you can’t hack digitally is time. This is the crown jewel, the most valuable piece of art for this generation. It is worth $1 billion.”
This piece now ranks third amongst the most valuable artworks ever sold by a living artist, after works by Jeff Koons and David Hockney.
Twobadour, Steward of Metapurse, said that this event marks a shift in how the world perceives wealth, accomplishment, and high art. “A renowned auction house, a contemporary artist; a wholly digital masterpiece that lives on a shared financial platform on the internet, acquired by a person of color. This certainly is history. We also hope it is the future.”
Also Read: Beeple’s (b.1986) EVERYDAYS: THE FIRST 5000 DAYS Sold For $69.3M On Christie’s Auction
About Metapurse:
- Metapurse is an NFT production studio and the largest NFT fund in the world, financed byMetakovan and operated jointly with Twobadour.
- The Metapurse contains some of the most iconic NFTs in existence, including Beeple Everydays: The 2020 Collection, Urbit Galaxy, F1 DeltaTime III, First Supper, and virtual estates in Cryptovoxels and Decentraland.
- Notably, they have also purchased the complete set of the 20 first-edition Beeple Everydays: The 2020 Collection in yet another previously record-breaking auction on Nifty Gateway in December 2020.
- The portfolio not only aims to collect meaningful stories but also catalyze financial and cultural inclusion.
- With a track record of launching culturally significant NFT projects like B.20, the Metapurse studio brings NFT experiments to life, from brainstorming brand identity to formulating token economics.
- More info can be found by visiting their website metapurse.fund, their blog The Metapurser, or by contacting twobadour@metapurse.fund.
About Christie’s:
- Christie’s is a name and place that speaks of extraordinary art, unparalleled service, and international expertise. Founded in 1766 by James Christie, Christie’s has conducted the greatest and most celebrated auctions through the centuries, providing a popular showcase for the unique and the beautiful.
- Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewelry, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million.
- Christie’s also has a long and successful history conducting Private Sales for clients, and online sales are offered year-round across all categories.
- Christie’s global presence is spread across a network of international salerooms and 61representatives and offices.
- Christies.com provides detailed articles and videos on the objects offered for sale alongside the latest advances in digital viewing tools to make Christie’s accessible to all.
The entire information was provided by Metapurse in a Press release at Christie’s.
