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A 10-second digital video sold for $6.6 billion

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This is a video collage made by the American artist Beeple and sold at auction by Christie’s for 6.6 billion dollars: let’s try to understand why it is worth so much

How much can a 10-second video be worth? We’re not talking about a super exclusive image, an epic fail of some superstar or a film that depicts a natural event more unique than rare. We’re talking about an animated digital collage made on a PC. Well, for such a video someone paid the astronomical sum of 6.6 million dollars (just over 6 million euros). The reason? The author: the video is the work of Beeple – pseudonym of Mike Winkelman – a grapich designer from South Carolina with a huge following on social networks. The American artist is considered one of the major exponents of the “digital art community” and has created a real cultural movement known as “everyday”. In practice, since 2007, every day Beeple creates and shares on his social channels an image created with three-dimensional graphics programs. The video sold for 6.6 million dollars is just a collection of 5000 images made daily by Beeple in the last 13 years.

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A 10-second digital video has been sold for 6.6 billion dollars

The video has a duration of 10 seconds and contains 5000 images made by Beeple since 2007. These are mostly surreal scenes and drawings of politicians such as Donald Trump and Mao Tse Tung. Alongside world leaders, there’s also room for cartoon characters like Mickey Mouse or Pokemon. The images were put together using the digital collage technique. There is no common thread but, according to the artist, the work speaks of society’s “fears and obsessions in the face of technology.” The video has been sold by the historic London auction house Christie’s that for the first time in its history, has put up for auction a 100% digital work (i.e. without any physical component). The starting price was just 100 dollars but – within a few minutes – the astronomical figure of 6.6 billion dollars was reached. The identity of the buyer is unknown but we know that the video is protected by a complex blockchain system with an encrypted NFT (Non Fungible Token) that contains the artist’s signature and “guarantees” the authenticity of the work.

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Source: https://www.thepatent.news/2021/03/03/10-second-digital-video-sold-6-6-billion/?utm_source=rss&utm_medium=rss&utm_campaign=10-second-digital-video-sold-6-6-billion

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