Record Setting NFT Sales

Happy Friday, Blockfolians

The Lede

If we’re being honest, this week was a liiiiiittle rough in the ol’ price department. Bitcoin, ETH…everything more or less was hammered. (Except…Cardano? Randomly?).

What wasn’t hammered though was the huge and growing enthusiasm for NFTs and digital art.

Nowhere was this more on display than with regard to the work of Beeple. Beeple made news a couple weeks ago when Christie’s Auction house announced that one of his works would be the first ever purely digital auction.

Then to top that, Nifty Gateway announced that another of Beeple’s works had sold for $6.6M - the largest price paid for an NFT ever.

The Christies Auction currently has a high big of $2.4M and is accepting bids until March 11th.

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Highly Relevant Reading

  • Uh oh. The Grayscale Premium flips negative.

  • SEC outlines crypto examinations

  • FATF releasing updated guidance for digital assets

  • Crypto was surprisingly not the scapegoat at a domestic terrorism financing hearing


Community Commentary

The Macro view from Alex Kruger
Apparently it’s not just Christie’s

A Really Big Number We Should Be Paying Attention To

$10,000,000,000+

That’s the supposed valuation of a new funding round for Kraken


Final Thought

Painfully, painfully true.