Graphic artist Cam Rackam made over $738k from his NFTsAfter struggling to sell his work in the physical world, the artist ventured into the world of digital art and created the Wall Street Bulls NFT…
This article was translated from ourSpanish edition.
The last few years have not been easy for anyone. The confinement derived from the Covid19 pandemic turned our world upside down and many sectors were seriously affected, including graphic artists who depended on people visiting galleries and art exhibitions to be able to show and sell their work. .Cam Rackamis one of these artists, a 42-year-old man who, in his desperation to generate income, made the decision totry his luck in the world of digital artand create NFT's (non-fungible tokens, that is, cryptographic assets that represent something unique).
In an interview Rackam gave toCNBC, he confessed that he had had some success selling his works in the physical world, including a painting and a sculpture for $11,000. Although Cam had heard success stories of other artists creating NFT's, he was completely oblivious to that world. Once he decided to undertake in the world of digital art, he looked for accounts with which he could collaborate creating unique pieces and came into contact withWall Street MemesInstagram概要文件,超过10万人followers and dedicated to posting memes, and offered them to create a series of iterations inspired by the famous Wall Street bull. The result? The sale of the collection of 10,000 pieces in just 31 minutes for a value of660 Ethereums or $1.7 million dollars(Rackam kept more than $738 thousand dollars!).
NFT'S AS AN OPTION TO MAKE A LIVING
Cam Rackham is not alone.
There are many artists who have found a way to spread their work and earn money in the digital market. Although it can be complex to understand, the key and the value of NFTs lies in thedigital certificates that allow the authenticity of a work to be proven. The sales of these digital assets are recorded in block chains orblockchainsthat contain information about the ownership of the piece and the history of prices and transactions linked to them. What characterizes the NFT's is that they are unique, indivisible, transferable and it can also be shown that they are scarce. To create an NFT it is necessary to "mint" it, that is, convert it into a digital asset on theblockchain, which can be done in some NFT MarketplaceOpenSea,Nifty GatewayandRarible.
And while the 660 Ethereums earned by Cam Rackam's work is impressive, it doesn't compare to the more than $69 million raised by Beeple's work,Everydays: The First 5,000 Days,the NFT with the highest value so far.
Graphic artists already know: NFT's offer great possibilities.
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