Cryptocurrency Used For The First Time For A Payment Of An Artwork

Cryptocurrency was used for the first time for a payment of an artwork. An auction house in the US approved the cryptocurrency payment.

In a statement made by Christie's Auction House in New York City of the USA, it was reported that a virtual table created in the digital environment was sold for 69 million dollars and the buyer who won the auction made the payment with the cryptocurrency called NFT, which is defined as "Non-Tradable Coin". In the said statement, it was pointed out that for the first time an artwork was sold with cryptocurrency. NFTs are designed to create copyrighted products because they are not tradable. When an artist transforms a work of theirs into NFT, they protect the copyright with their own digital signature, and the copyright that their share of the product is transferred to their account in the form of crypto a payment. It has been said that the work named "Everydays: The First 5000 Days" by the artist Mike Winkelmann is a digital collage consisting of 5,000 separate drawings, a part of which has been published every day for the last 13.5 years. Winkelmann's works include sketches, portraits of famous names and digital drawings of many well-known cartoon characters, many of which are created with illustration software.   Artwork Does Not Have A Physical Existence It was informed that the digital artwork has no physical existence and will be delivered directly to the buyer by the artist "accompanied by a unique NFT encrypted with the artist's inimitable signature and uniquely identified on the blockchain".   Source: AA