“Christie’s as an organization is really excited about a moment in time where you see $3.5 million of sales just organically appear out of thin air. “We’re at this moment in time where there could be a drastic shift-a demographic shift, a generational shift-when it comes to what excites younger collectors,” said Noah Davis, a Christie’s specialist in post-war and contemporary art in charge of the Beeple sale, told Art Market Monitor this month. The fervor for the work on sale at Christie’s now-titled Everydays: The First 5000 Days (2021), and featuring 5,000 images, one made each day over the course of 13 years-could be seen as proof of the medium’s growing popularity. Interest in NFTs skyrocketed last year, with more than $250 million worth of sales, according to the NFT Report 2020, which tracks the value of the market. Many of the works were immediately resold at inflated values-some at more than 1,000 percent of their original price.
Within five minutes of opening, the auction at Nifty Gateway broke records for digital art sales. In December, he made $3.5 million in a single weekend, only the second time the artist had ever offered his art on sale. Within the fast-growing crypto art market, few names are as well-known as Beeple’s. The artwork consists of an encrypted image or video file, accompanied by a digital signature that cannot be duplicated, giving buyers the assurance that their purchase is an authentic copy. Like all of Beeple’s pieces, CROSSROADS is a NFT-non-fungible token-work that is authenticated by blockchain technology. During an Otherwise Sleepy Christie's 21st Century Art Sale
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