The Beeple sale legitimized NFTs as an asset class. Within 6 months, Bored Ape Yacht Club, CryptoPunks, and hundreds of other collections reached multi-billion-dollar valuations. The majority of NFT projects subsequently collapsed to single-digit percentages of peak prices. The technology survives; the speculative mania of 2021 does not.
culture·March 11, 2021
Beeple's $69M NFT Sale
Christie's auctions Beeple's 'Everydays' NFT for $69.3M. NFTs enter mainstream culture.