Beeple told CNBC on Friday he thought NFTs were here to stay.
The digital artist, real name Mike Winkelmann, became widely known this year when he sold a non-fungible token photo collage entitled “Everyday: The First 5,000 Days” for more than $ 69 million at a Christie’s auction in March sold.
“I believe so strongly in this technology because it is so easy to prove and can be applied to so many different things that in the long run I think it offers such a great opportunity and opportunity, really as a real alternative to be considered. ” Asset class, “Beeple said in a TechCheck interview.
“I think where we are in these two months or whatever, I think this is an industry that will be around for many, many more decades,” he added.
NFTs are unique digital assets – often in the form of JPEGs or video clips – that can be bought and sold. The transactions are recorded in a blockchain register, similar to those that Bitcoin and other cryptocurrencies support.
While the average person may not yet know much about NFTs, which have become increasingly popular in recent months, Beeple believes that this trend will increase as consumers look for more quality and long-term value in their assets. Critics of the NFT madness see it as temporary, suggesting that once it becomes less desirable to own the digital assets, the values of NFTs will eventually plummet.
Less than two weeks after Beeple sold “5,000 days,” Twitter CEO Jack Dorsey’s first tweet, which was put up for sale as a non-fungible token, sold for 1,630.58 airwaves. This was the equivalent of approximately $ 2.9 million based on the price of the ether at the time of sale.
NBA Top Shots, NFTs of NBA highlight videos, have had sales of over $ 200 million, with a LeBron James video selling for $ 208,000. Grimes, the musician and artist, also sold NFTs with videos and music for more than $ 6 million.
“It’s still very much that I see massive room for growth, but I think you can see that people here are looking for a little more quality in their releases and something that they believe will hold in value over the long term becomes.” Said Beeple. “I think that’s super healthy for the entire ecosystem.”
Beeple also teased a little about his future digital artwork and how he plans to expand his digital pieces into physical platforms that people can use and connect to, which he thinks would be beneficial for future innovation for NFTs.
“Digital art is going to end up being seen somewhere in the real world, whether this is your phone, whether this is your computer screen. So I want to create some really cool screens that people can see this on and something that is very cohesive feels and is kind of wrapped with the artwork itself, and something that feels like a physical extension of that digital artwork, “he told CNBC.
“People are going to look for something related or used to them, and that’s where they’re going to put their money,” he added, without revealing anything more about what he intends to do other than saying that he is ready will announce something very soon.
– CNBCs Jessica Bursztynsky contributed to this report.