Electronic music artist Deadmau5 and crypto artist Mad Dog Jones have sold their artworks for more than 404 thousand dollars on Nifty Gateway, while an unique artwork currently sold for almost 67 thousand dollars. Collectors could place a silent bid on an artwork called Night Street, while Dead Ramen and Lotus Train were open for purchase for only five minutes.
UPDATE: auctions ended, final prizes are known. This is now reflected in the article. (18/1/2021)
The open edition of Lotus Train cost 699 dollars and ultimately sold 148 editions. Dead Ramen was more expensive with a price tag of 2500 dollars. This artwork sold 67 times.
The five editions for Night Street sold in a silent auction and bidders paid at least five thousand dollars. The average bid for this artwork was approximately 10 thousand dollars. The alternative Winter Street edition is only minted once, and sold for $66.717.
This wasn’t the first artwork sold by Deadmau5 or Mad Dog Jones. Mad Dog Jones sold artworks on Nifty Gateway a few months ago. While the current auction took place, an artwork from that first series switched hands for 18 thousand dollars. At the same time Deadmau5 has been very active in the crypto art space as well, providing music for a variety of projects.
What is crypto art?
Crypto art or digital art has been around for many years. However, without the existence of blockchain technology it was impossible to verify authenticity and rarity. Now digital art is connected to a token on the blockchain. That way buyers can see how many copies of a certain artwork there are, and whether the product is original.
The concept of seeing a digital image as art, is one thing. However, for many people it will be a challenge to consider digital images as valuable. Consider this: The Mona Lisa is worth many millions of dollars. If I would paint the Mona Lisa in an exact copy, it would be worth only 50 dollars. Because we all know where the original version is. Being able to verify the authenticity and rarity of a piece of art is crucial.
Some people don’t care about the Mona Lisa. It’s just a painting. They are happy to download an image for Google Images, print it on canvas and hang it in their living room. Others want the real deal. The same rules go up for digital crypto art.
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