The event featured local and international street artists invited to paint the historic, outdoor stadium.
Project director Craig O'Neill says he hopes the event will raise awareness of the space, which has previously been closed to the public.
Through print sales of the artists' work, the Friends of Miami Marine Stadium have pledged $500,000.
At the event, Gloria Estefan also announced a $500,000 contribution to restoration efforts.
"I want to preserve in some way the ability for the urban artists that have been decorating and making this place beautiful despite its decay in the last 20 years to have a part in what is going to be the new Miami Marine Stadium," she says.
Last year, the city commission voted 4-1 to preserve the stadium. The Friends of Miami Marine Stadium have until January of next year to raise $30 million to restore the structure, which once served as a boat racing stadium and concert venue. So far, they have identified or committed $10 million.