Beeple 69 million NFT

Exactly one year has passed since the record-breaking $69 million NFT sale minted by artist Beeple. That Christie's sale marked a point of no return and established the NFT industry as the latest trend in the cryptocurrency world.

Beeple's $69 million NFT

This work is called "Every Day: The First 5000 Days". It was the first NFT to be auctioned by the prestigious Christie's auction house. It is a collage of works by Mike Winkelmann (aka Beeple), published for 5,000 days from May 1, 2007.

Each piece tells the story of Beeple's evolution and becomes increasingly abstract, grotesque and absurd.

In the NFT, all the works were collected in one lot and thus sold for $69.3 million.

NFT trading volume in 2021 2021 NFT trading volume rises significantly in one year

What has changed after a year of record sales? That episode opened up a rift in the digital art world, clearly demonstrating that collectors are willing to go crazy over even works in digital formats whose uniqueness is recognized by the blockchain.

A year later, Beeple's record was broken in another deal when Pak's The Merge was sold for $91.8 million.

Meanwhile, the industry has been working hard to set record numbers: 41 billion in volume in 2021 alone, with a peak of more than 1 billion recorded on August 22, 2021.

In 2022, the trend seems to be changing and NFT sales are declining.

However, new markets and collections are emerging all the time.

Not only that, great artists have entered the field, major fashion brands have launched their NFT collections (most recently Diesel), and sports are becoming more and more integrated with NFT, with projects such as Sorare.

Most Popular Collections

Today we know that a pixelated face like CryptoPunks or a monkey like Bored Ape Yacht Club could be worth millions of dollars.

For example, CryptoPunk 5822 was sold on February 12 for 8,000 ETH or $23.7 million.

These impressive figures do not worry about the crisis. Especially because this market will be accompanied by the progressive development of the metaverse in which NFT will play a role.

Games such as Decentraland or The Sandbox have been pioneers and experiments. But with more and more brands exploring the metaverse and NFT, it's easy to speculate that the slate may just be getting started.

One year later, Beeple's $69 million NFT first appeared on The Cryptonomist.