Grimes makes six million dollars by selling digital artworks as NFTs in an auction

Not missing out on the NFT rush going on, Grimes has been the last artist so far to sell her artwork in an auction. She sold around six million dollars worth of digital art on Nifty Gateway.

Grimes sold her digital art as NFTs

Grimes sold a series of ten pieces, among which are works that have a sum of thousands of copies and those that are exclusive. While the most expensive artwork sold in the auction was Death of the Old, which was one of a kind, of course, sales mainly included those works which have many copies.

https://www.instagram.com/p/CL2VYW7BXzM/

Having an original song by Grimes on the background, Death of the Old, involving two flying cherubs, a sword, and a cross was sold for $388,938. You can watch it above.

Two artworks called “Earth” and “Mars” accounted for Grimes’ revenue on this event. A copy of them cost $7.500. While 303 copies of Earth was sold, people chose to buy 388 editions of the artwork Mars. These two pieces, being the prominent artworks in the auction, roughly generated five million dollars for Grimes. That means two out of ten pieces of artwork constituted around 74% of the total sum.

What are NFTs?

Non-fungible tokens have been growing in popularity for the last months along with the crypto market. Many artists are making money selling digital art nowadays. This technology allows people to be the sole owner of a digital good, which can be music, visual, or video as we just saw in this example. Owners of the goods have them in blockchain, which ensures that the digital goods are safe. It’s not very traditional and definitely not physical as we can perceive, but it may come in handy in the future to have an original Grimes artwork on the blockchain. Who knows, maybe NFTs will be the antiques in the future?

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