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This digital-only artwork can't be hung. Someone still paid $69 million for it

The collage, which took the artist 13 years to make, is part of a growing trend of digital items being sold or traded for large sums of money.
/ Source: TODAY

A collage that does not exist in the physical world sold for $69.3 million at an auction on Thursday.

Even the artist known as Beeple, who created the digital collage called "Everydays: The First 5,000 Days," could only watch in disbelief as the price of the artwork skyrocketed during the bidding in an auction run by famed auction house Christie's.

"Oh my God!" he exclaimed in a video of him watching the live auction. "I'm going to Disney World!"

Beeple, whose real name is Mike Winkelmann, spent 13 years creating the collage, which only exists on the internet. Unlike the Mona Lisa, you can't hang it on your wall. While anyone can Google it and look at it at any time, only one person owns it.

The buyer of Winkelmann's artwork has remained anonymous.

"It's gonna take a second to process, to be honest," Winkelmann told Kerry Sanders on TODAY Friday. "You know, maybe like three months from now, I'll be president of the United States? I don't know where it even goes from here!"

The collage is what is known as a non-fungible token, meaning that it's unique and can't be duplicated. It also cannot be exchanged for another NFT. The tokens run on a blockchain network, which is a digital ledger that records all transactions and is most commonly known as the network that supports bitcoin.

The value of NFTs comes from their scarcity and the interest of the market. NFTs of NBA highlights and even screengrabs of old tweets have traded for hundreds of thousands of dollars.

"To be honest, I really think this is going to be something that you're going to be hearing more about in the future," Winkelmann said.