Digital art that sells for R1 billion? Why non-fungible tokens have suddenly become a thing

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Twitter co-founder, Jack Dorsey, sells first tweet for R43,5 million. (PHOTO: Gallo Images / AFP)
Twitter co-founder, Jack Dorsey, sells first tweet for R43,5 million. (PHOTO: Gallo Images / AFP)

It’s an artist’s job to push the boundaries. If it makes people stop and stare and ask the proverbial question, “But is it art?” you can bet that whatever it is – no matter how outrageous – has just sold for millions.

Think of Damien Hirst’s shark in formaldehyde, Andy Warhol’s soup cans and all those over-the-top abstracts that look like they could have been plucked off the wall of a kindergarten class.

But many think a piece of art which recently sold for $69 million (over R1 billion) on auction at Christie’s in New York make all these other works seem decidedly run-of-the-mill.

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