Crypto Art record! 69M for a Beeple

[Lorence.xD]

I wonder who are those guys spending that much of money for an art, this can be a good market for them and a lot of money to spend for.

NFT are growing, and It think this year will be the best year for them, so congrats to all the early supporters of NFT and for sure its not too late to join with them. Working with some arts now, let’s see if its worth to try.

You don't have to wonder who it is, it is definitely someone who is filthy rich that they don't know what to do with the excess money that they have so they spend it on art, we can't understand what is going through their mind but we have to consider that this arts are valuable tool that they can use for tax write offs if they want to by donating it. Hopefully your art will become the next big thing in the NFT industry.

[aysg76]

There is no price for art lovers and collectors who want to be the pride owners of such paintings and drawings.Some people pay too much for the artwork to get into limelight so that they are in news for paying such high prices for artwork and people believe it might be very interesting or beautiful price of work and they charge from people to exhibit such artworks.Non fungible Tokens or NFT's have become quite a famous for such artworks as they are digital ownership of such artworks and are unique of their type.Beeple sold a collage of 5000 artworks that he had made over past 13 years as single NFT and it was auctioned for $69 million making it most expensive painting sold in NFT.

Watch his reaction after becoming 3rd most valuable living artist

Note: "There is no price limit for art lovers and their collectables".

[shoreno]

the pic looks blurry so i open it in new tab but it was still unclear . i dont know what kind of art was that and why it was sold that high but i think that was normal for an nft because even others sells more weird things that arent consider to be an art anymore .

 i notice that most nft that are sold are expensive , this nft is not for us poor but thats okay because poor dont like to collect stuffs hehe

[TedMosby]

-snip-

Agree, especially when the Arts looks messy and not really good or worthy to buy.
I dont know what is the clear category NFT is, bcs a tweet can be considered as NFT too.
So is basically NFT is anything unique and precious for a someone?

It’s very subjective, but I believe most of NFT users are not collectors, but only a speculative traders.
NFT can be used to represent something, virtually. Digital, physical, or intangible item can be presented as an NFT. CMIIW.
http://Https://www.coindesk.com/how-to-create-buy-sell-nfts

[Flowzer]

-snip-

Agree, especially when the Arts looks messy and not really good or worthy to buy.
I dont know what is the clear category NFT is, bcs a tweet can be considered as NFT too.
So is basically NFT is anything unique and precious for a someone?

It’s very subjective, but I believe most of NFT users are not collectors, but only a speculative traders.
NFT can be used to represent something, virtually. Digital, physical, or intangible item can be presented as an NFT. CMIIW.
http://Https://www.coindesk.com/how-to-create-buy-sell-nfts

How do you know they're not collectors, and how you classified someone as collectors?
As far as i know, collectors also sell and buy unique things. Yes true NFT can be anything, but i think there's need some rule to classified NFT.

[Gyfts]

I'm not an art connoisseur or something but that art looks like it has been taken straight from Minecraft and has been pieced together to form its entirety..

But we're not here to critique the art. I'm not surprised that such pieces of work would fetch for insane amounts of money (if it is true). Apparently, this is an NFT, and for sure this will boost the attention and hype around such to greater heights after seeing this auction that has reached millions.

Have you guys heard about the properties turned into NFTs as well? Although there's no confirmation if there's any value or validity to it like a land title would. It's crazy because its like anything can be turned into a NFT now. I can imagine more celebrities jumping into this and take advantage to get profit.

Imagine Onlyfans image leaks becoming NFTs in the near future. I can see that coming, and oh boy almost every picture from famous people would be turned into NFTs.

lol yup. Jack Dorsey is doing the same by making his first tweet an NFT and auctioning it off. NFT's are a speculative bull market. You can attach "blockchain" to any "asset" and it'll increase in value based on the buzzword itself.

[Imran232]

It's a proved that crypto is future and crypto features is the most valued platform for talent. Like here has Investing, trading, yield farming / staking, DeFi & NFT all the features are most successful and most value-able still than any physical service what is legal for our country. Well we can say blockchain gives us a opportunity to take the best value for our talent. Just think if beeple was a job boy in a company how much he paid for his creative work maybe $1k-$5 per month. Or if he was a freelancer then how much he got maybe same. Bht in this platform gives him the best value for his talent. What gives him more inspiration to work more. And this also inspired a lot to others.

[Oceat]

What exactly is the buyer getting?

The artwork is hundreds of megabytes. Is it linked in some way to the token?

Does the metadata include a hash of the artwork? The title of the artwork?

I think they were paying too much just for the unique identity and ownership as what the wiki says.

"A non-fungible token (NFT) is a digital file whose unique identity and ownership is verified on a blockchain (a digital ledger). NFTs are not mutually interchangeable (not fungible). An NFT is created by uploading a file, such as a digital artwork, to an NFT auction market."

Source: https://en.wikipedia.org/wiki/Non-fungible_token

I think this is too much for a small digital artwork compared to the famous ones and this is insanely expensive that almost took more money than those famous artworks. This looks like a hype thing again but whatever, it's their money their choice what they gonna do with it. lol

[darewaller]

I have always said that these type of things reek money laundering by the highest levels, art is one of the most used things when we are talking about money laundering, you could be unsure how it is done but there is always a possibility that crypto is purchased with illegal money, and art could be bought with that, and then you could resell that art and get legit money, that happens in regular life, don't know if it happens in NFT at all but it looks quite possible.

I can easily say that art is not something you could calculate the price of, for some people this NFT could be 10 dollars, for some it is 69 million dollars, we all remember that banana taped to wall was something of a controversy because it was sold for 150k or something if I am not wrong, and we all know that banana taped to wall shouldn't worth that much, some guy took it and ate it lol, and that is why art pricing is always difficult for people outside of art world.

[Lordhermes]

I wonder who are those guys spending that much of money for an art, this can be a good market for them and a lot of money to spend for.

There are some multi-millioniers that can spend up to any amount to get an art that is worthful. Art brings back unforgettable memories which could be only understood by who truly know the meaning of arts., Yes of course,

[jaysabi]

What do you actually "own" here? Cuz it's not a digital image, which can be replicated infinitely and anyone can access or view. What you own is some signature in a blockchain and a bunch of people who agree that has some special properties that give it value. However, if you don't have property rights over the digital image, you don't own it. It's absurd people believe you could own something that is infinitely replicable.

[Kittygalore]

What do you actually "own" here? Cuz it's not a digital image, which can be replicated infinitely and anyone can access or view. What you own is some signature in a blockchain and a bunch of people who agree that has some special properties that give it value. However, if you don't have property rights over the digital image, you don't own it. It's absurd people believe you could own something that is infinitely replicable.

NFTs have a unique signature in them so there isn't a possibility of replicating it. If you think that it is replicable then why don't you do it? I mean you have a strong adverb there to support your claim. Let's just accept the fact that it isn't our money and the art was worth that much, it's not our money so why do we have to feel regret about it? You think that it is absurd but here we are in a world where Jackson Pollock painting can fetch you millions, you don't understand how rich people think.

[sujon5]

I'll never understand this NFT craze. How can a file of a picture/collage cost millions of dollars?

[Poker Player]

I'll never understand this NFT craze. How can a file of a picture/collage cost millions of dollars?

I think it has more to do with the massive printing of money than with the value of the good itself. When so much money is printed and money is not circulating, which is what is happening today, a lot of that money ends up in speculative assets at crazy valuations.

[eaLiTy]

A digital piece by Beeple is selling for 69M USD according to The Japan Times, The Verge and other, at Christie's.

This follows a trend of increased prices for NFTs that are becoming an alternative asset of choice for the wealthy willing to invest in art with all the advantages of blockchain technology (easy to transfer, authenticity without doubt, proof of ownership,..)

I always had a problem to understand the mindset of these huge investors when you see piece of art and antiques being sold at auctions for millions of dollars and that too purchased by anonymous buyers, in the past i considered them as a recreational pass time for the ultra rich to satisfy their ego or either have a detail for looking after these epic pieces to preserve or people who made money through illegal means can spend this kind of money  .

I have read about the Chinese government purchasing their antique arts kept for auctions for insane amounts and the once that are not sold were stolen from different museums around the world but i cannot understand why there is a huge demand for digital art .

[Shasha80]

I think only rich people spend their money to buy art at a very high price. Because rich people sometimes have excess money and are confused
about what to spend it on, they usually end up buying works of art at fantastic prices. Anyway the picture is not clear, even though I am curious
about the picture. To be honest I'm not someone who really understands art, so sometimes confused by many works of art that are valued
very expensive.

[GreatArkansas]

I think only rich people spend their money to buy art at a very high price. Because rich people sometimes have excess money and are confused
about what to spend it on, they usually end up buying works of art at fantastic prices. Anyway the picture is not clear, even though I am curious
about the picture. To be honest I'm not someone who really understands art, so sometimes confused by many works of art that are valued
very expensive.

Buying this expensive NFT is extremely risky at all. If someone can afford this expensive price, the price is just very small for them, they can afford to lose it at all. They are willing to lose at all.
Recently about NFT trends, tweets also on Twitter can be now bought and sold. I am amazed by these NFT trends now.

[ulhaq]

What exactly is the buyer getting?

The artwork is hundreds of megabytes. Is it linked in some way to the token?

Does the metadata include a hash of the artwork? The title of the artwork?

I think they were paying too much just for the unique identity and ownership as what the wiki says.

"A non-fungible token (NFT) is a digital file whose unique identity and ownership is verified on a blockchain (a digital ledger). NFTs are not mutually interchangeable (not fungible). An NFT is created by uploading a file, such as a digital artwork, to an NFT auction market."

Source: https://en.wikipedia.org/wiki/Non-fungible_token

I think this is too much for a small digital artwork compared to the famous ones and this is insanely expensive that almost took more money than those famous artworks. This looks like a hype thing again but whatever, it's their money their choice what they gonna do with it. lol

That doesn't explain anything.

[ulhaq]

What do you actually "own" here? Cuz it's not a digital image, which can be replicated infinitely and anyone can access or view. What you own is some signature in a blockchain and a bunch of people who agree that has some special properties that give it value. However, if you don't have property rights over the digital image, you don't own it. It's absurd people believe you could own something that is infinitely replicable.

NFTs have a unique signature in them so there isn't a possibility of replicating it. If you think that it is replicable then why don't you do it? I mean you have a strong adverb there to support your claim. Let's just accept the fact that it isn't our money and the art was worth that much, it's not our money so why do we have to feel regret about it? You think that it is absurd but here we are in a world where Jackson Pollock painting can fetch you millions, you don't understand how rich people think.

But what exactly do you own? So I get that the buyer owns a token with a unique digital signature, say the public key is:

4985POSDIEFUA8OW3FJUWOI8FJWAOWAO398FJ8OIKL

But what does that have to do with Beeple's 5000-image artwork? Is the file which is hundreds of megabytes ALSO stored in the blockchain? What is the relationship between the unique digital token and the artwork?

[ene1980]

Buying this expensive NFT is extremely risky at all. If someone can afford this expensive price, the price is just very small for them, they can afford to lose it at all. They are willing to lose at all.
Recently about NFT trends, tweets also on Twitter can be now bought and sold. I am amazed by these NFT trends now.

It all about the rich investing their free money and nothing else, you might see these crazy big deals taking place to create the hype and eventually it will die out. Who in the right sense will be investing huge amounts for these digital shit. This shit just shows why billions are invested in bitcoin when the price is multiple times higher than its old all time high valuation  .