Christie’s to auction blockchain-backed art from digital artist Beeple (mobilemarketingmagazine.com)

Christie’s will be the first major auction house to sell purely a digital, blockchain-backed piece of art when it opens the bidding for a work of art from digital artist Beeple on Thursday 25 February. The digital work of art is a non-fungible token (NFT), which is a unique digital token encrypted with the artist’s signature. This NFT is individually identified on the blockchain, meaning the right owner and authenticity of a creation can be verified. Prior to the introduction of NFTs and blockchain technology, there was no way of knowing if a digital piece of art was duplicated or not.