The buyer of a $ 70 million digital artwork was named Friday by Christie’s auction house as a crypto-asset investor who goes by the pseudonym “Metakovan.”
The auction to purchase the work of digital artist Beeple, which ended Thursday, was the first sale by a major auction house of a work of digital art that does not exist in physical form.
The work is in the form of a new type of digital asset: a Non-Expendable Token (NFT). This means that it is authenticated by the blockchain, which certifies its originality and ownership.
Metakovan, whose real name was not disclosed, is the founder of Metapurse, the world’s largest NFT fund, Christie’s said in a statement.
The work, called “Every day: the first 5000 days” is a collage of 5,000 individual images, which were made one per day for more than thirteen years.
It was sold for $ 69,346,250 (42,329,453 ETH), which Metakovan paid for in the form of cryptocurrency Ether.
The sale placed Beeple among the top three most valuable living artists, Christie’s said, behind only David Hockney and Jeff Koons.
“When you think of high-value NFTs, this is going to be pretty tough to beat. And this is why: it represents 13 years of daily work, ”Metakovan said in a statement issued by Christie’s.
“The techniques can be reproduced and the skill is surmountable, but the only thing that cannot be digitally hacked is time. This is the jewel in the crown, the most valuable work of art of this generation. It’s worth a billion dollars. “