An art enthusiast who bought a Beeple NFT for $ 969 hoping to resell it for double the price in a year or two, found a 30.000% increase in the virtual asset in just three months.
Edward Fairchild - a Beeple follower and Director of Brand Strategy at THC Design - had hoped to purchase a piece of the digital artist he idolized, something to decorate his office with, but instead was introduced to the world of virtual resources when he was convinced to buy an NFT which has risen since December 2020 to a value of around $ 300.000.
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In an article published by Business Insider, Edward told the story of how he was introduced to NFTs, stating that prior to that moment he "had no idea what an NFT was" and was listening to Nifty Gateway for the first time.
Beeple, whose real name is Mike Winkelmann, mentioned in an Instagram video that he dropped NFT on Nifty Gateway - a platform that gives users the opportunity to access Nifties [or NFT] - targeting his fans. to get some for themselves.
Edward noted that he was initially skeptical of the value of digital art that could just as easily be saved on his computer for free. However, he was convinced of the value of NFTs after gaining knowledge of the embellishments that come with them.
Arriving at Nifty Gateway, he noticed three different options to choose from: a scrolling GIF NFT sold for $ 1, three $ 969 “Open Editions” NFTs, and 21 unique pieces to be auctioned.
“So I created an account and registered my credit card. I decided I wanted invest in one of the $ 969 Open Editions. ”he said. After registering, he purchased one of the Open Editions - a GIF of the Pokémon character Pikachu - for $ 969.
He had hoped to resell it for double the price, but instead ...
Doubtful of the value of what he had just bought, he hoped to be able to resell it for double the price in a year or two. After three months of steady appreciation, the NFT is currently valued at $ 300.000.
Edward put his Beeple NFT on Nifty Gateway at $ 1,6 million, with the aim of making at least a $ XNUMX million profit on the asset.
An NFT - or non-fungible token - is a proprietary digital certificate assigned to any virtual resource verified on a Blockchain. Beeple recently sold his NFT “Everydays: the First 5000 days” - a JPEG - at Christie's for $ 69 million.
Thanks to the growing popularity of NFTs, more and more people have begun embedding their digital files on NFTs and putting them up for sale, including Twitter CEO Jack Dorsey who is auctioning an NFT of his first tweet, but the proceeds will go to needy families in Africa.