It was the first digital-only artwork for New York auction house Christie's.
The work is by Mike Winklemann, or "Beeple," and is titled Everydays -- The First 5000 Days sold for $69.3 million. The record-breaking piece of work is an NFT ( (NFT) ) or non-fungible token on the Etherum blockchain. Read more from TheStreet: Christie's Cryptoart Auction Puts NFT Among World's Most Valuable
Tal Elyashiv, CEO of San Francisco-based SPiCE, a venture capital firm providing its investor's exposure to the massive growth of the Blockchain and tokenization ecosystem, explains to TheStreet's Corey Goldman what NFTs are, how they work, and how like anything, a value is what a buyer is willing to pay for something.