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A three-week-old NFT just sold for $69 million – Financial Post

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The sale isn’t just an unprecedented price for an NFT, it’s an unprecedented price for a new artist, period

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On Thursday, a digital artwork less than a month old hammered for US$60.25 million at Christie’s in New York, shattering every previous record set for the medium and pushing the NFT market into the price range of blue-chip masterworks. With buyer’s premium the total comes to US$69 million.

Everydays: the First 5,000 Days is a mosaic of every image that artist Mike Winkelmann, who goes by the name Beeple, has made since 2013. The artwork is attached to a non-fungible token (NFT), a digital certificate of authenticity that runs on blockchain technology. Unlike some of his other artworks, Everydays doesn’t come with anything physical (a box, a plaque) attached. Bidding opened at $100 on Feb. 25.

“The first day of bidding was one of the most magical events in my auction career,” says Noah Davis, a specialist at Christie’s who organized the sale. “I’ve never seen anything like it.”

Everydays: the First 5,000 Days is a mosaic of every image that artist Mike Winkelmann, who goes by the name Beeple, has made since 2013.
Everydays: the First 5,000 Days is a mosaic of every image that artist Mike Winkelmann, who goes by the name Beeple, has made since 2013. Photo by Christie’s Images LTD. 2021/BEEPLE/Handout via REUTERS

In the first eight minutes of bidding, Davis says, about 20 bidders pushed the work to US$1 million. “Only three [of the bidders] were known to us previously.”

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The buyer of the work was not immediately known, but Davis says that “there have been a handful of really dogged, really serious clients pursuing it, and they are mostly people who are very steeped in crypto.

“Whether that means they’re early investors in crypto, or they run and operate businesses that have significant investment in crypto technology,” he continues, “they’re all very savvy, ‘#online’ people.”

Paying with cryptocurrency 

When Christie’s announced the sale last month, it made waves when it revealed that it would accept cryptocurrency as payment; the caveat was that the buyer’s premium had to be in a traditional currency.

But as the days went on and people continued to push the price even higher, that policy changed.

“We are accepting [a buyer’s premium of] Ethereum for this purchase,” Davis says. “I feel like that’s actually the biggest deal of this whole thing, secretly.”

Speaking a day before the sale closed, Davis said he was “90 per cent sure” that the final buyer would be paying in cryptocurrency. Christie’s didn’t immediately confirm if that was the case once the sale concluded.

Given the wild volatility of cryptocurrencies, Christie’s may be taking a risk accepting its premium in Ethereum. The second-biggest digital coin lost 50 per cent of its value on Feb. 22, sinking as low as US$700. As of 10:11 a.m. EST on Mar. 11, Ether was trading at US$1,815 to the dollar, a roughly 160 per cent growth over the prior week.

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This sale is the latest in a whirlwind boom in the market for NFTs. Beeple’s previous record was set in late February, when a work that someone had purchased just months earlier in October for US$66,000 sold for US$6.6 million — a 9,900 per cent growth. Before that, his record stood at US$777,777.777, which was set in January. A year before that, he hadn’t sold a single artwork.

The US$60.25 million sale isn’t just an unprecedented price for an NFT, it’s an unprecedented price for a new artist, period. It puts Beeple’s Everydays in the same range as major works by giants of art history. A still life by Vincent Van Gogh sold for US$16 million at Sotheby’s last October; the year before Christie’s London sold a striking late oil painting by Picasso, Homme et Femme Nu for US$15.6 million.

Davis says this is just the beginning. “It’s a huge shot in the arm for the business generally, when you have a sale result like that,” he says. “I think we will have really compelling and exciting NFT-based art opportunities at Christie’s in the near future.”

Bloomberg.com

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FDA vote expected on Johnson & Johnson vaccine booster shots – CNN

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13 more die of COVID-19 in B.C. as 667 new cases confirmed – CBC.ca

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British Columbia announced 667 new cases of COVID-19 and 13 more deaths on Friday, the most deaths in one day since Feb. 3.

In a written statement, the provincial government said there are currently 5,128 active cases of people infected with the novel coronavirus in B.C.

A total of 367 people are in hospital, with 152 in intensive care.

Overall hospitalizations, which typically lag behind spikes and dips in new cases, are up by 1.9 per cent from last Friday, when 360 people were in hospital with the disease and about 27 per cent from a month ago when 288 people were in hospital.

The number of patients in intensive care is up by about 11 per cent from 137 a week ago and by the same percentage from a month ago when 137 people were also in the ICU.

The provincial death toll from COVID-19 is now 2,055 lives lost out of 196,433 confirmed cases to date.

As of Friday, 89 per cent of those 12 and older in B.C. have received their first dose of a COVID-19 vaccine and 83 per cent a second dose.

So far, eight million doses of COVID-19 vaccine have been administered, including 3.8 million second doses.

There are a total of 19 active outbreaks in assisted living, long-term and acute care. There has been one new outbreak at GR Baker Memorial Hospital in Quesnel. The outbreak at Good Samaritan Delta View Care Centre has been declared over.

The acute care hospitals currently affected by COVID outbreaks are Mission Memorial Hospital, University Hospital of Northern B.C., GR Baker Memorial Hospital, and Tofino General Hospital. 

More than 90 people have been diagnosed with COVID-19 and three people have died as a result of an outbreak at a care home in Burnaby, and officials say the death toll is expected to grow. 

The majority of cases at the Willingdon Care Centre are among residents, according to the B.C. Centre for Disease Control. Health Minister Adrian Dix said Thursday he expects the number of deaths will rise to 10 over the next several days due to a delay in data reporting.

New northern restrictions

More restrictions for the northern part of the province came into effect Thursday at midnight and will last until at least Nov. 19 in an attempt to reduce the spread of COVID-19 in the region.

Restrictions in the region now include limiting indoor and outdoor gatherings to fully vaccinated people only, capping the number of people who can gather in any setting, moving worship services online, cutting off alcohol sales earlier at night and mandating masks and safety plans at organized events.

Health officials are strongly recommending people stay in their community unless it is essential for work or medical reasons. 

Restrictions are also in place in the Interior Health region and communities in the eastern Fraser Valley.

Provincial Health Officer Bonnie Henry continues to reiterate the importance of immunization to reduce the risk of illness and death due to COVID-19.

From Oct. 7 to 13, people who were not fully vaccinated accounted for 68.3 per cent of cases and from Sept. 30 to Oct. 13, they accounted for 76.3 per cent of hospitalizations, according to the province. 

Anyone who has not yet received a shot is encouraged to do so immediately. Appointments can be made online through the Get Vaccinated portal, by calling 1-833-838-2323, or in-person at any Service B.C. location. 

People can also be immunized at walk-in clinics throughout the province.

B.C. health officials are awaiting a federal review of COVID-19 vaccines for five- to 11-year-olds and are encouraging families to register their children now as they anticipate doses being available for this group by early November.

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U.S. border town welcomes back fully vaccinated B.C. visitors, but travel hurdles remain – CBC.ca

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Businesses in northern Washington state are welcoming back Canadian customers once the United States reopens its land borders, but a B.C. mayor says travellers may face hurdles.

The U.S. is allowing fully vaccinated travellers from Canada to enter the United States by air, land and ferry for non-essential travel starting Nov. 8.

Those entering the U.S. at a land border will be required to show proof of COVID-19 vaccination or attest to their vaccination status upon request by a border agent. Land travellers do not need to show a negative COVID-19 test, a requirement for air travellers. 

Karen Frisbie, Chamber of Commerce president in Oroville, Wash. — a town of more than 19,000 residents bordering Osoyoos in B.C.’s South Okanagan — says her community has been quiet without Canadians travelling south to shop during the pandemic.

“We definitely miss our Canadian neighbours and look forward to having them back,” Frisbie said Friday to host Chris Walker on CBC’s Daybreak South.

Many border towns in Washington state struggled due to COVID-19 restrictions preventing Canadians from travelling across the border. The city of Blaine, for instance, said last August their finances were hit hard after several months without Canadian visitors.

Osoyoos Mayor Sue McKortoff says she can feel the happiness of Canadians who know they’ll be able to visit Oroville.

“A lot of the people in Osoyoos love to go to Oroville — they have their special places [and] restaurants [in Oroville], and they love to go down there for American milk and cheese and beer, and gas sometimes,” McKortoff said on Daybreak South.

But the mayor also strikes a cautious note.

“You still need a PCR test to come back to Canada,” she said, referring to a type of molecular testing. Molecular COVID-19 tests involve methods such a nose swab, or providing a saliva sample.

“You’re not going to go down there for a day, and [you] have to worry about having a PCR test in order to get back through the border.”

Canada still requires arriving travellers to present a negative COVID-19 test taken within 72 hours of their entry to Canada, regardless of their point of entry — but labs could take more than 72 hours to issue a test result.

“We need to wait until all of those things have been solved a little bit better before people will even take the chance to go across,” McKortoff said.

LISTEN |  Karen Frisbie and Sue McKortoff share their hopes and concerns about U.S. border reopening to Canadians:

Daybreak South5:24What will opening the U.S. border to Canadians mean to border communities? We go to Oroville, Washington and Osoyoos to hear more about the impacts on those cities.

What will opening the U.S. border to Canadians mean to border communities? We go to Oroville, Washington and Osoyoos to hear more about the impacts on those cities. 5:24

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