A mystery buyer is responsible for a great leap forward to both cryptocurrency and the traditional auction house system.
Christie's is a British auction house that has been around since 1766. But most recently they took a step into the modern era by auctioning off a digital artwork from crypto artist Beeple, titled "EVERYDAYS: THE FIRST 5000 DAYS."
.@beeple 's 'The First 5000 Days', the 1st purely digital NFT based artwork offered by a major auction house has sold for $69,346,250, positioning him among the top three most valuable living artists. Major Thanks to @beeple + @makersplaceco. More details to be released shortly
— Christie's (@ChristiesInc) March 11, 2021
The lot description: "In May 2007, the digital artist known as Beeple set out to create and post a new work of art online every day. He hasn’t missed a day since, creating a new digital picture every day for 5,000 days straight. Individually known as EVERYDAYS, collectively, the pieces form the core of EVERYDAYS: THE FIRST 5000 DAYS, one of the most unique bodies of work to emerge in the history of digital art."
Christie's auction house for the first time accepted Ethereum as a form of payment (this is because NFTs are by definition a type of Ethereum blockchain token that links digital ownership to the media associated with it).
According to CoinDesk the bidding process came down to the wire. "Bidding will open at $100” was the start. It skyrocketed to a whopping $60.25 million (a buyer's premium is why the final sale price sits at $69.3 million).
Bloomberg initially reported that Tron founder Justin Sun won the lot. But in a clarification to CoinDesk, it’s revealed that a last-minute mystery buyer snatched it at the last second.
“NFT is definitely a revolution to the art industry for our generation. Both Justin and Tron Foundation are super excited for the technology and will heavily support the ecosystem around that,” a Tron spokesperson told the outlet.
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