Nonfungible tokens, or NFTs, are “10 times better than their physical counterparts,” according to digital art collector MetaKovan. The pseudonymous art patron, who was recently revealed to be blockchain entrepreneur Vingaresh Sundaresan, bought the NFT of Beeple’s "Everydays: The First 5000 Days" for $69 million earlier this year. Explaining the motives behind his purchase in an exclusive interview with Cointelegraph, MetaKovan pointed out that NFTs have a number of advantages over traditional artworks: They are easy to transfer, they don’t have any storage costs and their ownership can be shared. Also, they can democratize the art world by making it …
Art trumps money. Always. It is important to remember this amid the current crypto art hype. Nonfungible tokens have given digital art the benefit of provable ownership, scarcity and programmability, allowing digital creators to promote and sell their work in ways never before possible. With the blockchain industry growing and markets becoming more liquid, crypto art has seen a flurry of incredible primary market sales. The ICO-like fear of missing out has inspired collectors and artists to chase scarcity, and even destroy art in the process, as was the case with the creation and auction of the Banksy print NFT. …
An early 20th-century who boasts a permanent installation at the Museum of Modern Art is about to get new life on the blockchain. In collaboration with nonfungible marketplace Mintable, the family of Wladimir Baranoff-Rossine will be releasing a collection of the esteemed Cubo-Futurist’s work. There will be a number of paintings digitized as 1,000-print drops, three digitized NFT piece auctions and one hybrid NFT/physical painting auction set to be sent to the highest bidder: both a physical Baranoff-Rossine original painting and an NFT image of the work. On crypto market data provider Brave New Coin’s podcast, Mintable CEO Zack Burks …
Candian musician and visual artist, Claire Elise Boucher, or Grimes, has sold a mammoth $5.8 million worth of tokenized art in less than 20 minutes on Nifty Gateway. On Feb. 28, the popular musician launched her debut NFT collection, “WarNymph,” in collaboration with her brother, digital artist Mac Boucher. The collection takes elements from mythology and futurism to create the “Oth3rkin universe,” with Grimes’ WarNymph collection comprising a goddess who battles obsoletion and future decay within a fictional realm. The listing on Nifty Gateway states: “WarNymph is the Goddess of Neo-Genesis. She battles the destructive force of obsolete ideas and …
Buzzy digital artist Mike Winkelmann, aka Beeple, made NFT history yesterday with his piece, “Crossroads”, netting $6.6 million on the secondary market via Nifty Gateway. Like many Beeple artworks, Crossroads was inspired by the 2020 U.S. presidential elections. It was designed to feature one of two animations, depending on the outcome of the election — one a triumphant Trump, the other a forgotten, despondent one. Originally purchased by a user called Pablo for $66,666.60 on Nov 1, the new owner, who chose to remain anonymous, paid almost 100 times more, breaking the price record for a single NFT sale. Previously …