The collectors who purchased Beeple's Everydays: The First 5000 Days (2021) NFT artwork for a record $69.3 million are confident in their investment. In fact, they predict it will become a billion-dollar piece someday.
The digital collage became the third most expensive work sold by a living artist at auction last week when it was acquired by Singapore-based NFT production studio and crypto fund Metapurse at Christie's auction house. The financier, known as "Twobadour" spoke to Art News about why they think the NFT artwork is the most valuable piece of this generation.
Interestingly, Twobadour wasn't banking on it's value as an NFT or even a digital work. Instead, they claim "it represents compressed time and the only thing you can’t hack in this digital world is time." Everydays: The First 5000 Days (2021) is a digital collage consisting of 5,000 images made over the course of 13 years.
"Skill is transferable and technology becomes obsolete," Twobadour continues, "The only thing you can’t hack is time, and this piece represents 13 years of time. We believe that makes this an iconic, once-in-a-lifetime kind of piece, and that’s why we went after it."
Metapurse has big plans for the work, and they're not going down the traditional flip, store, or exhibit routes. "What we want is to build a massive monument for this particular work of art which exists only in the virtual world," they explain, and they're hoping to enlist some of the biggest architects on the planet.
"We’d like to collaborate with them to design something that can exist only in this virtual space and then install this art in it and open it up to the world," says Twobadour. it's their hope that in two months time, anyone with a link will be able to "experience the grandeur of this work."
With 22 million eyes on last week's auctions, and fortunes at stake on an unfamiliar platform (this is the first time Chritie's has sold a purely digital work), Twobadour and Metapurse's pseudonymous founder Metakovan were happy with how the historic auction went down. "This is going to be a billion-dollar piece someday, said Twobadour, "This has the potential to be the work of art of this generation. We are very happy to be part of history and we’re still digesting the fact that we are part of history."