Elon Musk’s partner Grimes makes $5.8 million in just 20 minutes selling digital art (NFT)
Last week, we wrote about why crypto-collectibles and NFTs (non-fungible tokens) are the new craze and how celebrities like Mark Cuban are cashing in, Now, Elon Musk’s girlfriend Grimes is also cashing in.
Grimes recently made nearly $6 million in only 20 minutes by selling her digital artwork in an online auction on Sunday, cashing in on a craze for crypto assets that uses the same underlying technology as Bitcoin.
NFT (non-fungible token) is a type of cryptographic token on a blockchain that represents a unique digital asset. This asset can either be entirely digital assets or tokenized versions of real-world assets. Because NFTs are not interchangeable with each other, they may function as proof of authenticity and ownership within the digital realm, for example as proof of the authenticity of rare art.
The 32-year-old musician sold 10 items from a collection called WarNymph that included dramatic illustrations of winged baby goddesses battling in apocalyptic skies. According to a report from Daily Mail, Grimes sold a video piece called ‘Death of the Old’ and another item called “Newborn 2.”
Newborn 2 has already been listed for resale, as of Monday, with a $2.5 million asking price. The baby in the drawings is “described as belonging to a ‘Grimes narrative universe’ and will continue to ‘evolve’ in subsequent works.” Grimes first made the announcement in a Twitter post on Sunday. “Dropping NFTs tomorrow at 2pm EST. enter the void,” Grimes said in a tweet.
As crypto-collectibles become more popular, celebrities are also taking notice. People are now paying hundreds of thousands of dollars to own them. CryptoKitties, one of the original NFTs, generated $433,454 in sales in the past week, according to the NFT marketplace NonFungible.