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NFT — Everything you need to know about non-fungible tokens

The $69.3 million sale of digital artwork using non-fungible tokens — or NFT — has generated interest in the relatively new technology. Here’s what you need to know about what the tokens are, and how they are being used to bring digital art sale dollars in line with paintings and sculptures.On March 11, auction house Christie’s sold a lot from artist Mike Winkelmann, known as “Beeple,” for $69.3 million. As Christie’s is a major auctioneer that deals with highly valuable art, this isn’t out of the ordinary until you realize that the sale wasn’t for a traditional artwork.The sale of “Everydays – The First 5,000 Days” is claimed to be the first for a purely digital work of art via a major auction house. A collage of Beeple’s daily digital art production, the work shows the artist’s progression over multiple years, including changes in technique and style. Read more…
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