How is Beeple spending $69M in Ethereum from the NFT sale?

Digital artist Mike "Beeple" Winklemann put an exclamation point on the explosion of interest and value in artwork sold as NFT this spring, with his painting "EVERYDAYS: THE FIRST 5000 DAYS" raising a record $69.3 million at Christie's auction. Beeple had sold many digital artworks tokenized on a blockchain as proof of ownership, but this dazzling price has made it a prime symbol of the spike in NFT activity. As you can imagine, it changed his life as well. "Well, it's been a bit of a journey," he told host Matthew Aaron on today's episode of The Decrypt Daily podcast. “It was absolutely amazing to see digital art in the spotlight like this… I feel very, very happy. I'm far from creating artwork, so I'm just looking into the future and how I can use these resources to build bigger and more ambitious projects.” Beeple joked that "about $6 after taxes" remained from the sale. Seriously, he has employees working for him now and is looking to reinvest his earnings into future art projects, including physical artwork. But Beeple said it won't spend much of its change buying a luxury home or car. "I'm not very interested in that sort of thing," he admitted. "I'm into crazy art projects that I couldn't do before, but now I can." One of Beeple's newest projects joins the advisory boards of OTOY and RNDR. OTOY is the cloud graphics company behind the OctaneRender software that Beeple has been using in its work for years, and RNDR is the blockchain driven network for cloud-based rendering. Users can issue RNDR tokens (ERC-20 Ethereum) to leverage the network's distributed computing power to render graphics and videos with networked GPU nodes. Fox raises $100 million in funding for new NFT studio The company will develop an RNDR archive based on Beeple's long history of digital art and preserve the process and assets behind the run.

Join the Discussion

  • BrokerEUR/USD
    IG 0.6pips (fixed) margin: 3.33%
    LCG 0.3pips (variable) margin: 3.33%
  • Back to top