What is the most expensive digital artwork ever sold at auction?

This is equivalent to all of Panama's yearly emissions. A collage by American artist Beeple has become the most expensive digital artwork backed by an NFT that has ever been sold at auction, fetching $70 million and placing its creator "among the top three most valuable living artists".

Can digital artworks ever really be as valuable as traditional artworks?

Unlike traditional artworks, these can be duplicated exactly with a couple of clicks of a mouse, which raises a divisive question: Can a digital artwork ever really be as valuable as a piece that was physically created by an artist? Behind the explosion in the digital art marketplace are nonfungible tokens, known as NFTs.

How does digital art work?

In digital artwork, there can be an infinite number of copies, each looking as good as the other one. To tackle this, they’re using something called NFT or non-fungible tokens (essentially are a form of cryptographic tokens) which fuses digitally with the artist's signature to it, which cannot be altered, according to Christie’s.

How much does Beeple's art cost?

Beeple's piece sells on Christie's site. Beeple's latest art ranks among some of the most expensive pieces sold by living artists. The price for the digital art piece jumped from $15 million to nearly $70 million in under an hour. It was the first NFT to be sold by a historic auction house.