The world of decentralized finance continues to amaze. Roughly around 12 hours ago, someone bid almost $800,000 for a collection of nun-fungible tokens (NFT) in what seems to be the most expensive purchase of digital art in the cryptocurrency industry.
Mike Winklemann is a graphic designer from Charleston, USA, who uses the artistic pseudonym Beeple. His work spans a broader field and includes short films, VR and AR work, as well as Creative Commons VJ loops, “everydays,” and so forth.
He’s also known as one of the originators of the “everyday” movement when it comes to 3D graphics.
According to his official website, he has been posting a picture every day from start to finish and post it on the internet for the last ten years without ever missing a day.
His latest collection, known as “The Complete MF Collection,” was sold on an auction where the highest bid was $777,777.777, and it’s an NFT digital art collection.
Apart from the NFT, however, the collection also comes with a physical token that can be registered on the official website and will allow its creator to provide more off-chain information. Furthermore, the so-called “always-on physical artifact” of the NFT features a numbered titanium backplate, a signet, and hidden authentication markers.
Non-fungible tokens became somewhat of a hot trend a couple of months ago as the DeFi field was booming with full force.
One of the more popular projects to highlight this was the MEME protocol. As CryptoPotato reported back then, the MEME token skyrocketed in value, reaching an all-time high of almost $2,000.
Of course, a lot of different projects tried to capitalize on the growing popularity of NFTs, and, as it’s almost always the case with hot trends, most of them lost value overnight. The same could be said about MEME, as the token currently trades at around $370, which is around 80% below its former all-time high.