"The artist Mike Winkelmann, also known as Beeple, has just sold an NFT at a record-breaking $69.3 million, the third-highest price achieved by a living artist."

"The sale, at Christie’s, for the purely digital work was the strongest indication yet that NFTs, or 'nonfungible tokens,' have taken the art market by storm, making the leap from specialist websites to premier auction houses. Beeple, a newcomer to the fine-art world who first heard about NFTs five months ago, is the most high-profile artist to profit off the huge boom in sales of these much hyped but poorly understood commodities. If you’ve heard about them and want to know what the fuss is about, here’s a primer... An NFT is an asset verified using blockchain technology, in which a network of computers records transactions and gives buyers proof of authenticity and ownership... ...NFTs make digital artworks unique, and therefore sellable."

From "What Are NFTs, Anyway? One Just Sold for $69 Million/'Nonfungible tokens' and blockchain technology are taking the mainstream art world by storm, fetching huge prices. We explain, or try to" (NYT).

This post is the stark opposite of the previous post.