Katun has more than a decade’s experience tagging walls all over the world.
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What Katun managed to do with this first venture into non-fungible token (NFT) is nothing short of mind-blowing. Within 24 hours, he managed to sell 776 pieces of infinitely copyable digital art, that is only made exclusive thanks to NFT.
Altogether, he made approximately RM1.6 million in ethereum (ETH) (cryptocurrency).
What Is NFT?
In an overly simplified term, an NFT is like a grant for your vehicle (digital art). There are many of them out there, the factories churn them out in droves. But thanks to the grant (NFT), that one is yours.
A digital piece of art is infinitely copyable. But, if you have an NFT of that art, you can claim that you own it.
Who Is Katun?
He has been tagging walls all over the world with his signature ape design for over a decade.
To date, he has created his own art collective 4 Stages with brand collaborations with Vans, Marshall, New Era, Sony – and a notable roster of renowned artists such as Grammy winners Chris Brown, Dua Lipa, and Post Malone to name a few.
What Did He Sell?
Katun put up his awesome original digital art pieces, all featuring his signature ape design, on SuperFarm which is co-founded by famous YouTuber elliotrades.
Here are the pieces that were up for sale:
Here’s the price list:
- “Apes Stand Strong” was limited to 50 pieces at 1 ETH each.
- “Mystical Fruits” was available for 0.1 ETH each for a limited time.
But that’s not all, something big is going to happen to the NFTs he sold on 17 October:
- A one-of-a-kind special edition version of “Apes Stand Strong”, called “Inferno”, and its physical print will be given to one random person who bought “Apes Standing Strong”.
- On the same day, 20% of all “Mystical Fruits” purchased will turn into “Garden of Bloom”. Which pieces will bloom will be picked at random.
How Did He Do It?
Katun is not the first nor the most veteran of Malaysian artists who dipped their toes into the world of NFT.
There is no doubt that his art is amazing, but there is a reason why his sale set the record for the most expensive batch of NFT’s sold in one release for 24 hours by a local Malaysian artist to date.
You might have guessed it along with us. It is SuperFarm.
The secret is SuperFarm and how it gamifies the process using what it calls NFT Drops.
SuperFarm creates scarcity, demand, and hype by limiting the number of NFTs, and limiting the sale window.
It compounded the hype further by turning each NFT into what is basically a raffle ticket to win a more limited edition piece of art.
Fear Of Missing Out?
If you would like to get your hands on an NFT piece of digital art by local artists, here are some of our recommendations:
- The legendary Michael Chuah has a series of Yuri Neko Sama collectable digital figurines NFTs.
Book Of Lai
- The highly acclaimed Book of Lai has a collection of cute animated NFTs.
- One of the staples of the local designer toy scene, Oodplex, has an animated figurine NFT of his own too.