The non-fungible token (NFT) space is in a bubble. This was stated by the artist Mike Winkelmann, better known under the pseudonym Beeple. Beeple sold a collage of 5,000 of his works over the past 13 years via NFT this month at Christie’s for $ 69 million. Winkelmann’s NFT became the third most expensive living artist in art history.
“To be honest, I definitely think this is a bubble. I draw an analogy with the beginning of the internet. There was a bubble. And that bubble burst, ”he told Fox News. “But he didn’t destroy the internet. Accordingly, I think the technology is strong enough to survive this period. “
Winkelmann admitted that watching the auction end on March 11 was “very surreal.” “The price jumped from $ 27 million to $ 50. It literally felt like a bomb had exploded in the room,” he added.
The buyer was an investor under the pseudonym Metakovan, who later revealed his real name Vinnesh Sundaresan. In his own words, in this way he wanted to show that the cryptocurrency space gives Indians equal opportunities with Westerners.
“By Friday night this guy had my job and I had $ 55 million in my bank account. Like: boom, done, the next day, ”Beeple said.
Now Winkelmann is putting up for sale as an NFT his work ” OCEAN FRONT”. The highest bid 16 and a half hours before the end of the auction is $ 1,555,555.55. The artist plans to donate the proceeds to charity, namely to help comply with the terms of the Paris Agreement to reduce the risks of climate change.