Canadian artist and musician Grimes has auctioned off her digital art collection as NFTs for nearly $6 million. She had announced the auction on Twitter a day before the collection went on sale.
She sold a series of 10 pieces, created with brother Mac Boucher – some unique pieces and others that were printed in thousands of copies on Nifty Gateway, with the highest-selling item being a one-of-a-kind video titled ‘Death Of The Old’, which was sold for nearly $390,000.
Most of the sales came from two pieces, which were available in thousands of copies that sold for $7,500 each. The works were entitled Earth and Mars. Nearly 700 copies were sold for a total of $5.18 million.
The sale is based on the NFT (Non-fungible token), a new technology that is very much in vogue at the moment, allowing buyers to acquire ownership of a digital asset whether it is an image, animation or video.
Other artists have used this technology to make a fortune, such as Beeple who sold $3.5 million worth of artwork through Nifty Gateway last year, and the electronic musician 3LAU reportedly made over $11 million from the sale of albums and digital products.
This latest spectacular sale is a testament to the infatuation with Non-fungible token.
Finally, Grimes’ sale will also have served a good cause, as a percentage of the proceeds will be donated to Carbon 180, a non-profit organization that aims to reduce global carbon emissions.