NFTs Account For Over 10% Of Global Contemporary Art Sales — Here’s What You Did Not Know About Beeple Selling 69 Million Dollar Art piece NFT
Like any technology, it all starts from a simple use case. The Internet was first used for military communication, electricity’s first use case was just an incandescent light bulb. Today the internet is an indispensable household utility, and electricity powers almost everything we see around us. Blockchain is a powerful technology and the same can be said for Non-fungible tokens (NFTs).
NFTs can be used to create an immutable certificate of authenticity for any tokenized digital asset. However, for starters, they have gained unprecedented popularity with contemporary digital artists and creators. Earlier in the year, in March when Beeple sold an NFT of their artwork ( Everyday: The First 5,000 Days) for a whopping $69.3m (£51m), it grabbed the eyeballs of artists and auction houses globally.
Even the world-famous street artist Banksy was so inspired that they jumped the NFT bandwagon soon after selling one of their pieces, called Morons with the tagline: “I can’t believe you morons actually buy this shit”, for $380,000 (£280,000).
The last quarter NFT sales smashed all records, with NFT marketplaces taking in over $10 billion in revenue. Stories of how NFTs have changed the lives of many millennial contemporary artists and influencers allowing them to generate six-figure are making headlines.
As creators, artists, influencers, athletes, actors and even top brands, are actively leveraging NFTs, in this article, let’s focus on what many happen to miss from the Beeple NFT auction. It’s not the mega pricing of the NFT artwork that really matters. There’s more to it.
Did you know that there were 22 million people logged in to participate in the Beeple auction hosted by Christie’s?
That’s huge! The number of auction participants (considering it was March 2021 when NFTs were not even half as popular as they are now) confirms that there is a huge global community of NFT buyers and crypto-savvy NFT enthusiasts. Over 60% of the 22 million people who were active during the Beeple’s auction were under the age of 40. It is this strong presence of a bigger community that’s ready to adopt and leverage NFTs that has inspired us at Xircus to create this unique platform that will be a gamechanger redefining how we create, sell and purchase NFTs.
It just took one popular Beeple auction to capture over 10% of the global contemporary art market. Anyone who has been keenly observing the journey of Blockchain technology so far knows how a series of such events can push the NFT markets across other sectors. With the trends backed by solid evidence, we know it’s just a matter of time. And, with a platform like Xircus that makes creating NFTs and selling it to global buyers as easy as creating a Shopify store, we can bet on NFTs becoming an indispensable utility to add value to anything that can be tokenized. Xircus, as the world’s first one-stop DIY platform allowing NFT creators to deploy market marketplaces and create custom auctions, is headed to be a global market leader.
Remember! when mining was first discovered those who sold shovels made a fortune!
Xircus has a unique utility with increasingly growing demand.
Be a part of the most exciting and utility-driven next unicorn NFT project. To learn more about monetizing your digital creatives and deploying your NFT marketplace at zero cost reach us at:
Visit our website @ Xircus.app