On March 11, 2021, a 443-megabyte JPEG image sold for a record-breaking $69.3 million. This sum was not only the highest price paid for a piece of digital artwork ever, but was also the third-highest auction price achieved by any living artist for a piece of artwork in any medium. The work, a collage of every image that digital artist Beeple has created since 2007, was “minted” in February as a non-fungible token, or “NFT.”
This post was originally published on the Cardozo Arts & Entertainment Law Journal website on April 5, 2021. The original post can be accessed via the Archived Link button above.
Goldman, Matt, "Non-Fungible Tokens: Copyright Implications in the Wild West of Blockchain Technology" (2021). AELJ Blog. 281.