Talking to CoinDesk, the buyer said, “The mask itself is a unique, one-of-a-kind design, and the mystical attributes – character, eye color and skin color – are present in only 0.07% of all Hashmasks. Last week, on marketplace OpenSea, a devilish digital artwork known as a Hashmask sold for 420 ETH, or around $650,000. On Sunday, a collection of 34 digital artworks titled CryptoPunks sold for more than $1 million in the cryptocurrency ether (ETH). Called “The First Ever Edition Of Rick And Morty Cryptoart,” the NFT artwork sold for $150,000 at a silent auction. In January, Justin Roiland, joint creator of the popular animated series Rick and Morty, put a crypto artwork on the blockchain-based marketplace Nifty Gateway. Other sales of crypto art since the beginning of the year confirm the art form’s explosive growth. Specialist in post-war and contemporary art at Christie’s, Noah Davis told Wired, “As a mechanism, NFTs make it possible to assign value to digital art, which opens the door to a sea of possibility for a medium that is unbridled by physical limitations.” Booming Sales of Crypto Art in 2021 In an industry first, Christie’s will accept payment for the artwork in cryptocurrency. The auction house called the sale “an important milestone in the development of the market for digital art”. Everydays – The First 5000 Days, by renowned crypto artist Beeple, is on sale from 25 February to 11 March. Recently, they became the first major auction house to sell a completely digital NFT work. Serious acknowledgment of the importance of crypto works for art collectors has come from prestigious auction house Christie’s. However, the growing artistic appreciation of these works must also be recognized. Purchases are often undertaken as simply a strategic financial move considering the soaring value of bitcoin. This has made NFTs extremely valuable and collectible. They do so by allowing pieces to become unique and authenticated. It is undoubtedly true that NFTs have transformed the value of digital art. They’re buying bragging rights and the knowledge that their copy is the “authentic” one.” Financial Gain or Artistic Appreciation? To explain the phenomenon, the paper writes, “The buyers are usually not acquiring copyrights, trademarks or even the sole ownership of whatever it is they purchase. The New York Times described the historic sale of the Nyan cat meme as, “a new high point in a fast-growing market for ownership rights to digital art, ephemera and media called NFTs, or ‘nonfungible tokens.’” Like other NFT sites, it allows the artist or creator to retain intellectual and creative copyright of their work. The platform is just a couple of weeks old. The remastered Nyan Cat meme was sold at auction last week on crypto art platform Foundation. Torres remastered the iconic cat in honor of its 10 year anniversary. It features the cartoon creature flying through space leaving a vibrant rainbow trail set to Japanese pop music. The video has over 185 million views on the site. After being uploaded to YouTube in 2011, it became a big hit. Torres’ Nyan Cat uses the original animated GIF of a cat with a pop tart for a body. Not surprising, perhaps, as Nyan Cat sold for an eye-popping 300 ether (ETH), about $590,000. This coverage goes far beyond the usual sphere of cryptocurrency or financial publications. The recent sale of Chris Torres’ remastered Nyan Cat meme has been picked up by international news outlets. If it wasn’t apparent at the end of last year, the beginning of 2021 has seen crypto art breaking out from digital realms and positioning itself firmly as a rising international art movement. The first two months of 2021 have already been staggeringly successful for an art form that is only a couple of years old. Sales, too, prove the increasing interest from outside crypto art’s usual audience thus far. As such, it heralds the growing global attention to the burgeoning crypto art movement. The article explained why the Nyan Cat animated GIF of a rudimentary cartoon cat should be worthy of readers’ interest. The New York Times recently ran a piece titled “Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000”.
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