Beeple’s Another Digital Artwork NFT Purchased for Under $1000 Is Now Worth $300,000

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by Bhushan Akolkar · 2 min read
Beeple’s Another Digital Artwork NFT Purchased for Under $1000 Is Now Worth $300,000
Beeple's "The Infected Culture". Photo: beeple / Twitter

Beeple’s another NFT-linked digital artwork purchased by Edward Fairchild last December 2020, has now shot nearly 280x in recent times. Fairchild has placed another NFT bid for a massive $1.69 million.

Popular digital artist Beeple has been at the center of the NFT craze in recent times. In the latest development, Beeple’s NFT digital artwork purchased for under $1000 in December 2020, is now selling at a price of $300,000.

Last year in December 2020, Edward Fairchild, co-founder of Los Angeles-based cannabis cultivator THC Design, purchased Beeple’s “The Infected Culture” for a mere $969. But he mentions that he had no idea what an NFT was.

This is pretty cheap considering the fact that Beeple just sold his NFT at Christie’s for a massive $69 million. Beeple digital artwork NFT “The First 5,000 days” represents a collage of 5000 unique images made over the last decade.

Fairchild said that he wasn’t even aware of the recent boom in the NFT market until he saw another copy of the same work selling for $288,000. Fairchild has now placed his own copy on Gemini’s Nifty Gateway NFT platform for a massive $1.69 million. Speaking about the latest explosion in NFTs, Fairchild added:

“This feels like the beginning of something that we can’t even comprehend yet. In the future, more and more people are going to be spending their time in virtual reality, and NFTs have infinite potential when it comes to ownership of digital assets”.

Beeple’s Thoughts on NFT

Digital artist Mike Winklemann, popular as Beeple, sold one of the most expensive digital artworks in history, last week. This has set up a massive rage in the NFT market while unlocking new earning potential for digital artists. During an interview with BI, Beeple said:

“I honestly, like, I never thought I could sell my work. “Kind of late September, early October, people kept hitting me on being like, ‘Oh, you got to look at this NFT thing.'”

Post October-2020, Beeple netted a total of $3.5 million in just two months. While Beeple has tasted solid success with NFTs, he remains neutral on his views about this latest boom. Beeple added:

“If everybody wants it, well, then it has value. I really look at NFTs as like a blank slate. And so it’s sort of like saying, do you think a webpage is valuable? Well, I don’t know. It could be, or it could be totally worthless.”

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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