Who is Beeple and Why is He Important?
If one described digital art to a room of people twenty years ago, they would be met with instant confusion. Today, digital art is paving the way for a new generation of artwork that communicates and interacts with its audience. With the continuing advances in technology, viewers can both admire art, as well as immerse themselves in the work. This shift in art’s definition has puzzled some while others see a positive opportunity, like American artist Mike Winkelmann, otherwise known as “Beeple.” A few years ago, the digital artist was just your average dad and now he’s worth millions.
Before he was Beeple, Winkelmann had a humble upbringing in the Midwest with no formal art training. It wasn’t until 2007 that Winkelmann explored his design skills in a more creative manner, creating obscure visions satirically mirroring the ambiguity of our future. His work began gaining a large following, with 2.4 million Instagram followers today, and his digital art career flourished. From a Louis Vuitton collaboration to celebrity reposts on social platforms, Beeple was on the map, but yet he wasn’t seeing the capital to match his newfound stardom.
Once blockchain technology and the crypto art market began to take off in 2020, Beeple connected with popular NFT marketplace Nifty Gateway to attach his first NFT to a piece of his digital work. One animation ultimately sold for $66,666.66, crashing Nifty Gateway’s website. Following the success of his first sale, Beeple put together a collection of three digital works to auction off at a starting price of $969 each and prices rose to $582,000 within minutes. The weekend-long auction was monumental in selling the most expensive NFT at the time, Beeple’s collection for $777,777. The buyer, Tim Kang, was open about his commitment to winning the collection and increasing the value by nearly half a million dollars within seconds, “What I really wanted to stand for — when I put in that bid — was to show the world that this is the paradigm, this is the future.” Kang was spot on, which became apparent when an NFT of Beeple’s later sold for a jaw-dropping price of $69 million at Christie’s auction house, beating out his own previous record as the most expensive NFT with one owner.
One of the largest impacts that blockchain technology is having on the art world is accessibility. The importance of a digital presence is stronger than ever in today’s tech-forward society, and Beeple is a glowing example of the potential artists have today. Digital artists can gain massive recognition on social platforms, with millions of followers and fans, and yet not earn any substantial income from their work. NFTs allow digital artists to capitalize on the popularity of their images.
When understanding the concept of NFTs, questions often arise around the idea that ownership is moot considering the artwork exists in an open space rather than a private home or gallery. However, while anyone can view a piece of digital art online, blockchain makes them collectible.
With tangible art, it can be extremely difficult to get a hold of a work’s provenance, especially if the piece is rather old. As we enter into this new era of digital art, the art world will become more transparent due to the traceability functions enabled by blockchain-based digital certificates. This exposure will help eliminate the opacity of art value by clearly sharing the history of sale(s).
While anyone has the power to make art, creators are now able to share and market themselves. Social platforms such as Instagram and Twitter have become a marketplace for new talent, and the exclusivity of the art market is gradually being expanded.
At ORIGYN Art, our fine art market community is democratized thanks to the power of public blockchain infrastructure and Digital Twins. We make it so that creators, industry professionals, collectors and enthusiasts can benefit from certificates of authenticity. Our marketplace experiences also lower the barrier of entry for buyers and create unprecedented access to masterpieces from world-renowned artists.
Learn more: https://www.origyn.ch/art/
