This confirms that the NFT market is here to stay. We will continue to invest in the opportunities NFTs offer us to deeply engage with new audiences and artists, an exciting new generation of collectors, and more expansive and inclusive markets.”

Noah Davis, Head of Digital Art and Online Sales at Christie’s,commented: “I’m equal parts humbled, astonished and euphoric about this milestone. The last 6 months have been a crucible for Christie’s and this proves just how battle-ready we are now for presenting premier programming in The NFT Space. I’m grateful to our consignors for their trust, our bidders and buyers for their tenacity and—most of all—I’m deeply proud of the artists and creators, without whom we would have nothing to brag about.


A digital artist called “Beeple” is now one of the top three most valuable artists alive – in any medium – after he sold a JPG file of his work for US$69,346,250. Welcome to the crazy world of NFTs, and the latest wild gold rush to hit the internet.

Mike Winkelmann, AKA Beeple, is a legit digital artist, and a very prolific one.
Every day, for more than 13 years, he has created a new artwork from scratch – 5,064 of them and counting, according to his website at beeple-crap.com.

He doesn’t seem to think they’re all that great: “The purpose of this project,” he writes, “is to help me get better at different things.

It will stabilize and become more practical.”

Wilder isn’t necessarily going after just gamers. He said the target is the fan of the “cyber renaissance,” which is at the intersection of finance, blockchain, and a variety of other industries that are helping to create a new digital economy.

A sister company, Zero.io, and Zero.Space will build the tech for the project, using a team of about 55 people.

GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games.

Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it.

Beeple didn’t respond to requests for comment.

“Something new”

Sundaresan was born in 1988 in the Indian city of Chennai. He has said his family expected him to find a stable job and follow the example of his father, a mechanical engineer.

Society had a plan for me,” he said in a podcast in 2020.

He took up coding at high school and, after class, he and a friend built websites for local companies. They earned $20 per job – “big money” they spent on computer parts, his school friend, Neela Muhil Vannan, recalled to Reuters.

The youngsters poured over articles about Apple Inc co-founder Steve Jobs and questioned why India wasn’t producing tech entrepreneurs of similar “rock star” status, Muhil Vannan said.

Sundaresan has said he drew inspiration from the book “Ignited Minds” by India’s then president, A.P.J.

Abdul Kalam, born a poor Tamil Muslim.

In 2006, Sundaresan began a mechanical engineering degree at a university in Dubai. Back in Chennai, while researching how to design code to automate bank transfers, he stumbled across bitcoin in 2012.

“This was something new,” he told another interviewer.

At the time, a single bitcoin cost around $10, compared with around $60,000 today.

In May 2013, Sundaresan quit his job as a developer at a newspaper and launched an online crypto exchange called Coins-E, which enabled customers to buy and sell cryptocurrencies. At meet-ups in a Chennai cafe, he taught other students how the blockchain functioned.
He told them crypto would give them the freedom to do whatever they wanted, one participant, Akhilesh Arora, now a developer in the Netherlands, told Reuters.

Sundaresan left India to pursue his ambitions.

Asked by Reuters to provide documentation confirming details of the sale, Sundaresan did not respond.

Lendroid’s Singapore auditors, Entrust Public Accounting Corporation, did not respond to requests for comment.

Investors, posting on a Lendroid chat group, grew angry over delays to the launch of the platform and a collapse in the price of the coin they received from the ICO, called a “Lendroid Support Token,” or LST. One investor accused Sundaresan of running a “school project.”

reuters investigates

  1. More Reuters investigations and long-form narratives

  2. Got a confidential news tip? Reuters Investigates offers several ways to securely contact our reporters

Martens said he quit Lendroid in August 2018, unhappy about the project’s lack of progress and an absence of communication from Sundaresan about the route forward.

Winkelmann said he plans to buy carbon offset for all his NFTs going forward so that their impact is a net positive.)

CROSSROAD By @beeple

The #1/1 from beeple’s first NG drop has just resold on the secondary market for $6.6 million.

History has just been made.

Congrats to beeple and of course to @pablorfraile for the sale. pic.twitter.com/mTYG4VABSw

— Nifty Gateway (@niftygateway) February 25, 2021

Those who are early to the space think the tech is here to stay. Pablo Rodriguez-Fraile, the collector who bought a Beeple for $66,666 and resold it for 100 times that just four months later, started collecting digital art a year ago and co-founded the Museum of Crypto Art in part to display his growing collection.

It took our entire community and network by storm because, all of a sudden, all of our users were able to sell their digital art using these protocols.”

Cent approached Twitter to talk about this and the idea was born to take the tweets of users and turn them into NFTs.

“We decided that we wanted to layer on this value on Twitter, partly because that’s where so much of the crypto audience lives, and also because we see tweets as a very interesting message format that is very interactive,” Hejazi said.

This so-called Valuables service is still operating and turning tweets into auctionable items.

“It got us solidified in this vision of the future of internet applications and how it will revolve around data ownership at its core,” Hejazi said. “It’s your content, your audience, your in-game assets, and so many other things.

Over deviled eggs and croque monsieur, he told them about his idea for Lendroid, a platform he said would “reimagine trading.” It was an early version of the so-called DeFi, or decentralized finance, products now surging in popularity. Traditionally, borrowers have looked to banks or brokers.
By contrast, Lendroid envisioned a “lending pool” of deposited crypto that would facilitate peer-to-peer loans, by allowing users to lend and borrow crypto funds directly, without an intermediary.

With Sundaresan was Paul Martens, a San Francisco-based digital strategist he hired partly to drum up investor support. Sundaresan told the two dozen attendees that Lendroid hoped to raise about $3 million in an ICO.

They are secured through the blockchain of the Ethereum network, meaning that this entire ownership history can easily be traced right back to the creation of the NFT, by anyone.

The crypto connection

The decentralized nature of blockchains like Ethereum means that there’s no central repository of ownership records that can be hacked into, no single place a would-be thief can go to steal your property. Your ownership of an NFT is written right into the Ethereum blockchain – an ever-growing series of “blocks” that are constantly being created to represent new transactions.

Every time a block is added, the change is sent out to propagate through the network of every computer hooked into the Ethereum network – millions of them, in a permissionless, non-hierarchical web that anyone can join.

The ambition is to create multi-levelled, photorealistic and mixed reality worlds where users roam freely, acquire virtual land and express themselves through unique NFT avatars, decorative NFT assets and fashionable NFT accessories.

“Since 2013, I started releasing what we refer to as totems,” Wilder said. “This was something we developed which allowed us to take 3D models and 3D-print them and sell them on demand. So we were actually using computer rendering to design things, render them out, upload them.

And then we would sell them and have this supply chain in the backend. And these totems really live in the form of jewelry primarily, but expanded into statues and larger 3D artifacts.”

There were clients like Justin Bieber, Alicia Keys, and Kevin Durant.
That helped Wilder grow his notoriety.

By posting the results online, I’m “less” likely to throw down a big pile of ass-sh#t even though most of the time I still do because I suck ass.” I would disagree, and so would others, it seems, since a first-of-its-kind auction at Christie’s just pulled in nearly US$70 million for Everydays: The first 5,000 days, a collage of his first 5,000 images. Watch him soil himself as the auction closes in the video below.

So if he’s a digital artist, what exactly did the buyer get? Well, an image file just like the one you can right-click and download at the top of this article, although thankfully in higher resolution at 21,069 x 21,069 pixels.

But they also had their digital identity forever entered in the provenance record of non-fungible token ID 40913.

Non-fungible tokens, or NFTs, are a new type of asset class: unforgeable digital certificates of ownership and authenticity.

Similar Posts:

Leave a comment