Digital artist Beeple sold his collection of 5000 daily works for a whopping $69 million in a Christie's auction last week. That's the third-highest auction price on record for a living artist, but the sale was record breaking for another reason — it was sold as a non-fungible token (NFT).
In recent weeks, NFTs have soared in popularity, and that's created opportunities for big and small artists alike to generate value for their work. The Block's Saniya More sat down with Cory Van Lew, an artist who's been tokenizing his work on SuperRare, with some pieces going for tens of thousands of dollars.
He's taken a lot of that profit and reinvested it in the NFT market by supporting other artists, but he has even bigger aspirations — he's just started the process of creating his own NFT gallery in the physical world. On this week's episode of The Scoop, he talked about what a merged digital and reality gallery would look like, as well as:
- How Van Lew began his career as an artist and how that led him to tokenizing his work.
- The nuts and bolts of turning a creation into an NFT.
- Why holding NFTs creates different value than say holding a print of an artwork.
- His take on the energy use conversations surrounding NFTs.
- Why the NFT community is a supportive space for creators and collectors.
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