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Grimes sold digital art for $ 6 million in NFT form

Grimes sold digital art for $ 6 million in NFT form

 

Grimes is the latest artist to participate in NFT’s Gold Rush, selling roughly $ 6 million worth of digital artwork after auctioning it off yesterday.

A series of 10 unique pieces, others in thousands of copies were for sale on Clever gateway November 28. The best-selling piece was a one-of-a-kind video titled Death of the old one it involves flying cherubs, a cross, a sword, and a glowing light that unfolds over an original Grimes song. The successful bidder took it for almost $ 389,000.

The bulk of sales came from two pieces with thousands of copies available which sold for $ 7,500 each. The works, titled Earth and March, are two short videos featuring their titular planet with a giant cherub above holding a weapon, also to original music. Almost 700 copies were sold for a total of $ 5.18 million before sales closed.

If you are totally in awe of what’s going on here, welcome to the party. After slowly gaining popularity over the past few months, NFTs have exploded over the past week as a new technology. The technology that stands for non-fungible token allows buyers to purchase ownership of a digital asset, typically an image, animation, or video, in the form of a single digital token living on a blockchain.

NFTs allow buyers to support artists, but they also give them some benefits in return. Buyers might not be able to hang these digital pieces on their wall, but they might have the right to brag about having purchased a famous work like Nyan Cat or something from a popular artist like Grimes. NFTs are also a speculative asset, and many markets have emerged that offer the possibility of theoretically reselling them for much more, as long as the hype around NFTs continues.

If you want to build your career in NFT then starting with a good website is the starting point. You can take service from a professional website builder who is a specialist in building the NFT Agency website.

Grimes is not the only artist to have already stood out on NFTs. Digital artist Beeple sold $ 3.5 million worth of art through Nifty Gateway last year. The artist behind Nyan Cat won around $ 600,000. And the electronic musician 3LAU reportedly grossed over $ 11 million album sales and digital products this weekend.

Nifty Gateway said an undisclosed percentage of Grimes sales will go to Carbon180, a nonprofit focused on removing carbon from the atmosphere. Donations can be aimed at solving one of the major problems that NFTs share with other blockchain technologies, they are extremely inefficient in their consumption of electricity.

Each of the works is part of the Grimes WarNymph collection, produced in collaboration with his brother Mac Boucher. Grimes debuted at War Nymph in 2019 and initially used digital personality slash psyche alternative to promote his album, Miss Anthropocene. The appearance of the War Nymphs has changed over time, transforming into the vaguely demonic winged baby seen in these NFTs last January, shortly before confirming her pregnancy.

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