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Paul Dylan-Ennis, Lecturer/Assistant Professor in Management Information Systems, University College Dublin

NFTs: one year after Beeple sale, non-fungible tokens have become mainstream

Beeple's NFT art sale propelled NFTs into the public consciousness. mundissima / Shutterstock

One year ago, an artwork was sold for US$69 million (£52.6 million) by the prestigious auction house Christie’s. This was no lost Matisse or rarely seen Van Gogh. Instead, it was a composite collection of digital art by the then relatively unknown artist Beeple.

What makes this piece, Everydays: the First 5000 Days, truly remarkable, is that it was sold as a non-fungible token (NFT). In the year since that sale, NFTs have gone from a relatively obscure tech-world phenomenon to the mainstream.

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