In total, the 20 artworks were auctioned for more than $3.5 million, making a new record on the Nifty Gateway platform.
After years of meticulous research and work input, digital artist Beeple got a hefty recognition on Gemini-backed Nifty Gateway yesterday. His Star Wars, nature, and technology inspired artwork was purchased for a whopping $777,777 through a last min bid.
The winning bid congratulated Beeple for his creative digital artwork and urged for open collaboration in the industry.
@beeple designed a comprehensible item drop w/ precise attention to detail across the physical and digital spectrum at a caliber unmatched
His consistent work ethic, creative understanding & divine timing landmarked history for art & crypto and I’m just blessed to participate
— tim kang ⬡ tim.eth (@illestrater_) December 14, 2020
Notably, the winning bid came in precisely one second after another investor, Metakovan, had put up a bid of $380k.
THIS SAVAGE JUST BID $777,777 WITH LITERALLY 1 SECOND LEFT
— Nifty Gateway (@niftygateway) December 13, 2020
In total, the 20 artworks were auctioned for more than $3.5 million, making a new record on the Nifty Gateway platform.
Beeple noted that this was not an overnight success but a result of the hard work he had been making for years.
Bigger Picture of Beeple Digital Auction on Nifty Gateway
This is a representation of how blockchain technology can revolutionize different market sectors. The digital artwork is stored safely in the blockchain, not even the artist can resell it on the platform after the deal is settled.
With Nifty Gateway owned by Gemini crypto exchange, digital artwork investors can be assured of high-level system security free of a possible scam.
Art fanatics now have a chance to purchase from different global artists that are competitive in their own capacity. Previously, artwork auctions were made on physical places that limited the number of artists and investors capable of reaching out on time. However, with the Nifty Gateway platform, the process has been streamlined for anybody willing to participate.
Through non-fungible tokens (NFTs), global artists and investors can exchange on the platform instantly. NTFs are a special type of cryptocurrency that promises to revolutionize an entire industry that Bitcoin and other digital assets have not touched.
They have market utility ranging from collectibles, in the online gaming industry, and Ticket sales among others. Gemini ecosystem through Nifty Gateway anticipates tapping on this market, thus widen its global touch. The crypto exchange has grown to be one of the most responsible and respectable platforms in the market.
Having given Beeple a chance to successfully auction his digital work for millions of dollars, other global artists and investors are likely to come onboard.
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