Beeple, which sold NFT for almost $ 70 million, called the market situation a bubble

Digital artist Michael Winckelman, aka Beeple, called the non-fungible token (NFT) segment a bubble in a comment to Fox News Sunday.

His digital art piece sold for $ 69 million. Mike Winkelmann, AKA “Beeple” is our Power Player of the week. @beeple #FoxNewsSunday

– FoxNewsSunday (@FoxNewsSunday) March 21, 2021

“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, ”Winckelmann said.

The artist added that the bursting [dot-com] bubble did not destroy the internet. According to Beeple, NFT technology is strong enough to survive this period.

Winckelmann is the author of Everydays: The First 5000 Days, which went under the hammer for $ 69.3 million at Christie’s. The artist called watching the end of the auction “very surreal.”

“The price jumped from $ 27 million to $ 50 million. I literally felt a bomb explosion indoors,” Beeple added.

Everydays: The First 5000 Days is a collage of thousands of Winckelmann’s works published online since 2007. The buyer turned out to be Vignesh Sundaresan, hiding under the pseudonym Metakovan.

“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.

At the time of writing, Winckelmann is selling NFT “OCEAN FRONT” on the Nifty Gateway marketplace. 15 hours before the end of the auction, the highest bid is $ 1.55 million. The artist plans to donate funds to combat climate change.

Recall that at the end of February, the NFT token with Trump from Beeple was resold for $ 6.6 million . In December 2020, the artist bailed out $ 582,000 for Crossroad.

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