Grimes makes $6 million in under 20 minutes selling crypto-art


crypto-art

Singer, songwriter and producer Grimes auctioned off a collection of digital artworks for millions of dollars this week on the NFT trading platform Nifty Gateway

On Sunday Grimes announced the auction via Twitter and launched her digital collection, WarNymph Volume 1, with plans to sell the crypto-art for 48 hours, however, in just 20 minutes, the artist’s 10 NFTs brought in over $5.8 million. The collection was a collaborative effort with the singer’s brother, Mac Boucher, who has worked with Grimes on many projects.

One of her most popular NFT’s, Newborn 2, which depicts a baby guarding Mars, traded at over $300,000 in under 10 minutes and has already been relisted at $2.5 million.

Some of the artworks are set to new music from Grimes. The piece Earth features the unreleased song Ærythe, while Mars has the ‘Mars Theme’ and Death of the Old features a demo of Anhedonia.

Read More | With more and more cryptocurrencies out there, how do you know which ones to invest in?

Grimes sold her last crypto-art piece, Death of the Old, on Monday for nearly $400,000. The singer plans to donate a portion of the proceeds to Carbon 180, a nonprofit organization focused on reducing carbon emissions.

The sale of non-fungible tokens or NFTs has become increasingly popular and lucrative, contributing to a crypto-art market that’s currently valued at over $100 million. A non-fungible token is a special type of cryptographic token which represents something unique; non-fungible tokens are therefor not mutually interchangeable, unlike cryptocurrencies such as bitcoin, and many other network or utility tokens that are fungible in nature.

Grimes is not the only celeb to cash in on NFTs, in February, the digital comic artist Chris Torres sold an NFT of his Nyan Cat for nearly $600,000, while Lindsay Lohan sold an NFT for $59,000.

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