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Christie’s auctions jumps into burgeoning digital art market

"Everydays - The First 5000 Days," by the American digital artist known as Beeple, comprises all the works of art that he has made over the course of 13 years. Christie's in New York said that because the venture was so new for the auction house, bidding in the Feb 27-March 11 online sale would start at just $100.

The art work carries what is known as a Non-Fungible Token (NFT), a unique digital token encrypted with the artist's signature and which verifies its ownership and authenticity and is permanently attached to the piece.

The auction comes at a time of rapid expansion of the digital art market, where creators use computer generated imagery, scanned photos, manipulated videos and other medium to create original work. The recent introduction of NFTs opens the way for digital art to be sold in the same way as traditional paintings and sculptures.

"Not unlike the advent of Street Art as a blue chip collecting category, NFT-based art is on the threshold of becoming the next ingeniously disruptive force in the art market," Noah Davis, Christie's specialist in post-war and contemporary art said in a statement. 

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