Charleston-based artist Beeple, whose real name is Mike Winkelmann, forever changed the art world when his digital artwork “Everydays — The First 5,000 Days” sold as an NFT for $69.3 million in March 2021. It was the first purely digital artwork ever offered at Christie’s auction house — and remains the most expensive NFT sold to a single person.
If you have no idea what “NFT” means, the simplest explanation is: NFT stands for “non-fungible token.” “Non-fungible” refers to something that is unique and can’t be replaced. By contrast, physical money and cryptocurrencies like Bitcoin are fungible, which means they can be traded or exchanged for one another.
Every NFT contains a digital signature which makes it unique, verifying when you purchase an NFT, you bought a one-of-a-kind digital asset. These digital assets could be photos, videos, audio files or another digital format — tweets, even — but in the case of Winkelmann, he sells NFTs of digital artwork which he creates and releases daily.
“Everydays: The First 5,000 Days”…