The digital art piece from animator Justin Royland, who worked on the acclaimed animated series Rick and Morty, was sold on the Nifty Gateway marketplace for $ 150,000.
The work called “The very first edition of Rick and Morty’s cryptoart” went to the buyer at the auction. Nifty Gateway announced this on Twitter the day before. We will tell you about the situation and the reasons for such a high cost of the drawing.
For starters, it’s important to mention the benefits of blockchain for the digital art niche. One of the main advantages of a blockchain is the inability to change old data that is already in it. That is, if something turns out to be in the blockchain of a serious cryptocurrency, it goes there forever.
In addition, blockchains are open, which means that anyone can track a Bitcoin transaction, find out the balance of any address, and even see what commission the user paid for transferring a separate portion of coins.
The combination of these factors appealed to art connoisseurs. The author of any drawing or something similar can assign a unique NFT token to it, which will be located on a cryptocurrency address like another coin – be it ether, LINK or USDC. Thus, the owner of the work can not only prove the uniqueness of the individual work, but also at the same time confirm the fact of owning it.
Accordingly, creators of works of art can be sure that their work will not be counterfeited, and if they are counterfeited, it can be easily verified. It also motivates collectors who don’t have to struggle with copies when buying. Hence the popularity of the niche.
Examples of digital art on blockchain
The newly sold artwork is part of Royland’s Best Thing I Could Do crypto collection. The collection includes many objects inspired by the Rick and Morty TV series, as well as other animated masterpieces. These include the cult American animated series The Simpsons, reports Cointelegraph.
The work for 150 thousand dollars went to the buyer under the pseudonym blanK. As is customary in the world of cryptocurrencies, the buyer does not disclose his real name, so it is most likely that it will not be possible to calculate the identity of a connoisseur of digital art. The work itself is backed by a unique token (NFT), which guarantees originality and the fact that the purchase belongs to blanK. It is possible that with the growth of this area in the cryptocurrency industry, he will be able to resell the drawing later for a much larger amount.
Cases of high-end art purchases on the blockchain have already happened. For example, at the beginning of the month we learned about the purchase of a drawing of a monkey for the equivalent of 176 thousand dollars. The buyer did not hide that he did it for the sake of demonstrating his own status and condition. You can read more about this in a separate article.
Royland’s cryptocurrency work, dubbed The Smintons, is expected to be sold soon on the Nifty platform. At the time of writing, the highest bid in yet another animator’s art auction hit $ 188,137.
We believe that this is a clear sign of the expansion and popularization of digital art, which in its new form is still in its infancy. It is possible that it is NFT that will become the new explosive trend of 2021, like the DeFi sphere, which conquered the minds of cryptocurrency lovers last year.
In the meantime, it remains to be glad that the blockchain niche penetrates so deeply into the modern world. Now famous personalities are contacting her, who not only appreciate the advantages of the industry in practice, but also set an example for others. This means that NFT, digital art and blockchain in general have great prospects, which are also provided by the current growth of the cryptocurrency market.