Art
Buyer behind US$69m record-breaking art sale revealed – CTV News
The buyer of a digital artwork sold for US$69 million was named as a crypto asset investor known by the pseudonym “Metakovan,” auction house Christie’s confirmed on Friday.
“Everydays: The First 5000 Days” — the first virtual Non-Fungible Token (NFT) artwork to be sold at a major auction house — closed at $69,346,250 during an online auction on Thursday.
On Friday, Christie’s announced that Metakovan, founder and funder of Metapurse, the largest NFT fund in the world, was behind the astronomical purchase.
Chinese cryptocurrency creator Justin Sun revealed on Twitter that he was outbid on the artwork, having put down a final effective bid of $60 million, only to be “outbid by another buyer in the last 20 secs by $250k.”
Sun said he had been leading the bidding throughout most of the last 20 minutes of the auction — but his attempt to update his bid failed during the last 30 seconds.
The record-breaking sale catapults the artwork’s creator, Mike Winkelmann, who goes by Beeple, near the summit of the most expensive living artists to date, placing him just below David Hockney and Jeff Koons. Hockney’s painting “Portrait of an Artist (Pool with Two Figures)” sold for $90.3 million in 2018, while Koons’ stainless steel sculpture “Rabbit” topped the list at $91.1 million in 2019.
Winkelmann’s collage of 5,000 images that took 13 years to make had a starting bid of just $100, but the high-profile auction drew fevered bidding from over 350 prospective buyers.
Its sale drew heightened attention in the past weeks as more NFT works, including digital art, GIFs and even tweets, have been thrust into the spotlight in what many are calling a digital art boom.
The musician Grimes recently sold a collection of digital artworks for $6.3 million, while Christopher Torres, the creator of the decade-old GIF “Nyan Cat,” was able to cash in on the flying Pop Tart cat animation for almost $600,000.
An NFT is a digital token encrypted with the artist’s signature on the blockchain — a digital ledger that is the backbone of cryptocurrencies like Bitcoin and Ethereum — allowing sellers and buyers to verify authenticity and ownership. Virtual art faces unique challenges that physical art does not, as it can be copied and disseminated any number of times on the internet, reducing its value. NFTs ensure that a buyer has the true original directly from the artist. They also allow artists to sell works directly to buyers on their own, which some have asserted will democratize the art market.
“Artists have been using hardware and software to create artwork and distribute it on the internet for the last 20+ years but there was never a real way to truly own and collect it,” said Winkelmann in a press statement following the sale. “With NFTs that has now changed.”
Winkelmann, a graphic designer from Charleston, South Carolina, told CNN in an interview ahead of the sale’s closing that when he began the “Everydays” project in 2007, he had no intention of selling the work. As a freelancer who works on concert visuals for artists like Katy Perry and Deadmau5, and with no gallery representation, he is not the usual blue-chip artist to sell his work for tens of millions at a major auction house. He has nearly 2 million followers on Instagram and his bizarre and often dystopian-tinged pop culture mashups play on the same notes as street artists like KAWS.
“It’s a bit surreal, because (digital imagery) wasn’t really something that I pictured, in my lifetime, being able to sell,” said Winkelmann, ahead of the sale. “So it (has) come out of nowhere. But at the same time, I also really feel like this is going to be the next chapter of art history.”
The sale also comes at a time when auction houses like Christie’s and Sotheby’s are having to rely on virtual auctions and more online bidders in light of the ongoing pandemic. While individual artists can utilize NFTs to break from the traditional art market, so too can the market to drive more sales and tap into the digital art world.
“The last year has been an extraordinary period for the art market, and today’s result is a fitting tribute to the significant digital transformation that has taken place at Christie’s. And just as our business has evolved, so has the way in which art is being made,” said Noah Davis, a specialist in post-war and contemporary art at Christie’s, in a press statement.
“I’m honored to welcome all the of the remarkable new clients, who not only bid with us, but reached out to share their brilliant ideas on how to further the crypto art movement. Beeple’s success is a testament to the exciting possibilities ahead for this nascent marketplace. Today’s result is a clarion call to all digital artists. Your work has value. Keep making it.”
A trio plays a cover of The Eagles hit Take it Easy as a dozen people settle in for an intimate open mic night inside Derrick McCandless and Dawn Mills’s cozy spot off highways 6 and 68 in Manitoba’s Interlake.
Strings of antique-style light bulbs cast a soft glow over the mandolin, banjo and dobro guitar that hang on a wall behind the band. An array of pottery shaped in-house by Mills dots the shelves behind the audience.
The Eriksdale Music & Custom Frame Shop is full of tchotchkes — like an Elvis Presley Boulevard street sign and vintage Orange Crush ad — that create the rustic country-living vibe the couple dreamt up before buying and transforming the vacant space over the past three years.
“I have met so many people in this community through them that I probably wouldn’t have … because of this hub,” says Mills’s cousin Dana-Jo Burdett.
Mills and McCandless are bringing people together in their rural community in more ways than one — though a return to Mills’s hometown wasn’t always in the cards.
The couple met in Winnipeg in 2011 while McCandless was playing a party at Mills’s cousin’s place. They had plans to settle in the Okanagan in McCandless’s home province of B.C. until he suffered a health scare. After that, they decided to head back to the Prairies.
WATCH | McCandless and Mills channel creative spirit into Eriksdale community:
Dawn Mills and Derrick McCandless host the RogerKimLee Music Festival in the Manitoba Interlake community of Eriksdale. They also turned a long-vacant space in town into a live music venue, instrument repair and sales store, and pottery and framing services shop.
It was the height of the pandemic in fall 2020 when the pair relocated to Eriksdale, about 130 km northwest of Winnipeg. They bought the old Big Al’s shop, once a local sharpening business that was sitting vacant.
“He was an icon in the community. He was a school teacher. He did a drama program here,” said Mills. “He brought a lot to the town.”
The building has become their own personal playground and live-in studio.
“It keeps evolving and we keep changing it and every room has to serve multi-function,” says Mills. “It’s a meeting place.”
While they love the quiet life of their community, they’re also a busy couple.
McCandless is a multi-instrumentalist with a former career in the Armed Forces that took him all over. Now, he’s a shop teacher in Ashern who sells and fixes instruments out of the music shop.
WATCH | McCandless plays an original song:
Derrick McCandless plays one of his original songs on acoustic guitar at the Eriksdale Music & Custom Frame Shop in March 2024.
Mills helped found Stoneware Gallery in 1978 — the longest running pottery collective in Canada. She offers professional framing services and sells pottery creations that she throws in-studio.
They put on open mic nights and host a summer concert series on a stage next door they built together themselves. They’re trying to start up a musicians memorial park in Eriksdale too.
One of their bigger labours of love is in honour of McCandless’s good friends Roger Leonard Young, David Kim Russell and Tony “Leon” — or Lee — Oreniuk. All died within months of each other in 2020-2021.
“That was a heart-wrenching year,” McCandless says.
They channeled their grief into something good for the community and started the RogerKimLee Music Festival.
Friends from Winnipeg and the Interlake helped them put on a weekend of “lovely music, lovely food, lovely companionship” as a sort of heart-felt send off, said Mills.
That weekend it poured rain. Festival-goers ended up in soggy dog piles on the floor of the music shop to dry out while Mills and McCandless cooked them sausages and eggs to warm up.
“It was just a great weekend,” says McCandless. “At the end of that, that Sunday, we just said that’s it, we got to do this.”
Mills says the homey community spirit on display during that inaugural year is what the couple has been trying to “encourage in people getting together” ever since.
The festival has grown to include a makers’ market, car show, kids activities, workshops, camping, beer gardens, good food and live music.
This summer, Manitoba acts The Solutions, Sweet Alibi and The JD Edwards Band are on the lineup Aug. 16-18.
Burdett has been a part of the growth, helping with branding, social media and marketing. McCandless and Mills’s habit of bringing people together has also rubbed off on Burdett.
“There’s more of my people out here than I thought, and I am very grateful for that,” says Burdett.
Their efforts to breathe new artistic life into Eriksdale caught the attention of their local MLA.
“The response from family and friend and community has been outstanding,” Derek Johnston (Interlake-Gimli) said during question period at the Manitoba Legislature in March.
“The RogerKimLee Music Festival believes music to be a powerful force for positive social change.”
Dolly Lindell, who has lived in Eriksdale for about three decades, said the couple is adding something valuable that wasn’t quite there before.
“There’s a lot of people that we didn’t even know had musical talent and aspirations and this has definitely helped bring it out,” Lindell says from the audience as McCandless, Dave Greene and Mark Chuchie wrap their rendition of Take it Easy.
McCandless, 61, said there was a time in his youth where he dreamed of a becoming a folk music star. Now his musical ambitions have changed. He’s focused on using that part of himself to bring people together.
“I think it’s that gift that I was given that that needs to be shared,” he says. “I don’t think I could live without sharing it.”
WATCH | Trio plays song at Eriksdale music shop:
Derrick McCandless, Dave Greene and Mark Chuchie play a cover of The Eagles hit Take it Easy at McCandless and Dawn Mills’s music shop in Eriksdale in March 2024.
- 1 day ago
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- Duration 4:42
Joel Jamensky’s sunny disposition explains why the artist with Down syndrome uses the name ‘J-positive’ for his online art business, started with the help of his parents two years ago. “There’s a lot more going on in [Joel’s] art than may be at first glance – just like him,” said his dad, Mark.
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Made Right Here: Woodworking art CTV News Kitchener
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