Home → News → Non-Fungible Tokens and the Future of Art → Abstract
By Logan Kugler
Communications of the ACM,
Vol. 64 No. 9, Pages 19-20
10.1145/3474355
![[article image]](https://cacm.acm.org/system/assets/0004/0772/081821_CACMpg19_Non-Fungible-Tokens1.large.jpg?1629222993&1629222993 "blocks with faces and icons, illustration")
Behind Jeff Koons and David Hockney, the most lucrative auction for a piece of art from a living artist happened in 2021—and it was for a work that existed in a JPEG file. The artist Beeple's "Everydays—The First 5,000 Days," a series of digital artworks, sold at Christie's for the princely sum of $69.3 million.
It was a stunning event made possible by a technology called non-fungible tokens (NFTs).
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