He Non-fungible token market (NFT) and digital art Nifty Gateway, hosted by Winklevosshad its largest NFT transaction to date during an auction two weeks ago.
On July 23, the artist’s unique piece Trevor Jones, “The Bull of Picasso” Sold for $ 55,555.55 to Pablo Rodríguez-Fraile of Museum of Crypto Art (MOCA) in Nifty. The market describes the transaction as “the destruction of all previous records of the sale of a digital work of art in the form of a non-fungible token” in a blog post on Aug. 5th where the sale was revealed.
Cointelegraph spoke to Jones to learn more about his journey with crypto and NFTs.
Jones discovered cryptocurrencies in 2016
Jones has been involved in crypto for four yearsafter discovering Bitcoin (BTC) while looking for investment opportunities after a successful solo engagement in late 2016.
The success of his first investment motivated Jones to spend the second half of 2017 exploring the vast ecosystem of cryptocurrencies. In 2018 Jones started an exhibition of paintings on cryptos, Call Crypto disorderbefore receiving an invitation to present his work at a crypto conference in the UK the following year:
“I was invited to show some of my work in CoinFestUK in April 2019 in Manchester, “he said.” It was my first ever cryptocurrency conference so I had a lot to see. I ended up chatting with David Moore, CEO of the NFT KnownOrigin Art Market.. He tried to explain the concept behind NFTs to me. ”
“I just remember thinking back then that this wouldn’t work, and especially as an artist doing physical work in paintings, there was no point in exploring them. I was so wrong!”
Jones researches NFTs
Although non-fungible tokens were originally discarded as doomed, The dynamism of the industry over the past year caused Jones to consider creating and selling artwork in the form of NFTs.
“It was about 5 or 6 months after I spoke with David, around September, that I noticed a lot more artists were popping up on Twitter talking about NFTs and the different markets that were emerging,” said Jones.
“There was a lot of interest and excitement in the digital art scene, and when I saw some artists selling their work at reasonable prices, I had to admit I was wrong.”
NFTs are an “important part” of the future of art
Jones’ first foray into the NFTs was working with his colleague Money_Alotta called “EthGirl”.
EthGirl’s auction sparked a heated bidding war before it was sold for 70 Ether (ETH) on the SuperRare market. The equivalent of approximately $ 10,080 of the auction broke the previous record 600% of the highest value artworks sold on SuperRare.
Since then, Jones has created a dozen NFTs in nine months. When asked if he would continue to create them, the artist said: “I would be crazy if I weren’t!”
“I see NFTs as a huge part of my future and the future of the arts and the art market in general. As space grows and more sales like Picasso’s Toro happen, the traditional art market is finally going to revolutionize the digital art market.
“Art schools and artists, commercial galleries and auction houses that are not adapting to the new ways of creating, selling, investing and exhibiting art will end up being out of date“He finished it.