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Christie’s first digital art auction leans on blockchain and other buzzwords

The combination of the art world / collector and blockchain technology has been around for several years, and now Christie’s auction house is entering the market with its first auction of a digital art collection. Mike Winkelmann, also known as Beeple, made an image every day from May 1, 2007 to January 7, 2021. With each piece sewn in chronological order, the work was collected as Every day: the first 5,000 days, with bid set to open at $ 100 for an auction that runs from February 25th to March 11th. Christie’s notes that a recent Beeple collection was sold in a blockchain market for $ 3.5 million.

When the auction takes place in six days, potential buyers will bid on the artwork and an associated NFT at Makers Place. An NFT is the non-fungible token that confers property rights using blockchain technology to guarantee a single verifiable owner of the artwork. According to Christie’s, “the buyer receives the art file containing a digital signature from the artist and all vital details, including creation time, edition size and a record of all previous sales.”

Beeple has an Instagram of 1.8 million followers on Instagram and a long list of brand collaborations in recent years, so Everydays provides a sample of her evolution as an artist. In a statement, he said: “I think this is a truly historic moment not just for digital art, but for the entire world of fine art. Technology is now in a place with blockchain to be able to prove ownership and have a real shortage with digital works of art, so I think we will see an explosion not only of new works of art, but also of new collectors and I am very honored to be part of this movement. ”

A few years ago, CryptoKitties was one of the best examples of blockchain art and digital assets, but that market has cooled significantly. A look at the OpenSea digital asset market shows that of the 100 most expensive transactions listed there, only a few have occurred in the past two or three years and DappRadar lists 126 active traders on the last day, up from 14,000 at its peak. Dapper Labs, the creators of CryptoKitties are not made with digital assets however, they launched an NBA licensed sports collector, NBA Top Shot. There, traders exchange entries on the blockchain linked to specific highlights.

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