Murakami will retire from NFTs
Acclaimed Japanese contemporary artist Takashi Murakami says he may not release any more non-fungible tokens in the future, after first jumping onto the market in late 2021.
Murakami is a world-renowned artist whose career dates back to the late '80s. He has released two NFT collections to date, the first with Clone X. collection in association with RTFKT in December 2021, and later with Murakami.Flowers collection in May 2022.
Speaking to The Guardian in a September 20 article interview at the Asian Art Museum as part of his new solo art exhibition called unknown people, Murakami simply stated: "Maybe I'm done releasing NFTs."
Murakami.Flowers in particular proved to be a challenging project for the artist, as he delayed its launch to fine-tune the project before deploying it in May 2022, just as the cryptocurrency and NFT markets crashed.
With prices rock-bottom and sales stagnant after launch, Murakami finally He apologized to the people who bought his NFTs. However, the community seemed to understand this at the time, given that broader market factors were at play.
Still, Murakami.Flowers has generated 26,713 Ether (ETH) or $42.52 million in secondary trading volume to date, with a minimum NFT price of 0.36 ETH ($573) according to OpenSea data.
NFT Artist Wins Multi-Million Dollar Contract Dispute
NFT artist Danny Casale, also known as Coolman Coffeedan, has won a multimillion-dollar contract dispute related to profit sharing with Web3 art curators DigiArt.
According to September 22 report of ArtNet, Casale signed to be represented by DigiArt in May 2021, and the company helped him gain exposure in exchange for a 50-50 split of his NFT sales and the "exclusive right to market and offer for sale." all non-fungible tokens created by Casaleโ until the contract expired on May 2, 2022.
However, DigiArt sued Casale in March 2023 for alleged breach of contract after the artist self-released an NFT project on December 21, 2021 called Coolman's universe.
The project consists of 10,000 NFTs of cartoon avatars and has generated secondary sales worth 26,399 ETH ($42 million) to date, according to data from OpenSea.
DigiArt alleged that Casale โcompletely ignored his contractual obligationsโ in launching the project, but did not mention any specific monetary damages in the lawsuit. The company also admitted to not attempting to enforce the agreement until months after the project launched.
Additionally, DigiArt also failed to provide a written start date for the contract with Casale, along with several other important details.
This ultimately led Judge Wendy Berger of the United States District Court for the Middle District of Florida, Orlando division, to rule in Casale's favor and dismiss the case.
โThe draft contained several blank spaces, including the effective date, the name of the artist, and the allocation of net proceeds from the saleโฆ in the body of the email, [DigiArtโs] The representative stated that the profit split would be '50/50' 'in the initial NFT drops,'โ the court document reads.
The long-awaited debut of Krapopolis
Krapopolis, the animated series linked to NFT from rick and morty Co-creator Dan Harmon will finally air this month, after it was first announced in June 2021.
The show is set to debut with the first two episodes on FOX on September 24, and will then appear on FOX's Animation Domination series block alongside The Simpsons, Family Guy and Bob's Burgers, beginning October 1.
Only 2 days left #Krapopolis It takes you on a legendary adventure that will premiere on September 24! The magic is almost here! pic.twitter.com/sb6E8oLGxV
โ Krapopolis (,) (@Krapopolis) September 22, 2023
Krapopolis is a comedy set in ancient Greece that follows a "flawed family of humans, gods and monsters trying to rule one of the world's first cities without killing each other."
The show's NFTs are called โKrap Chickensโ and depict cartoon chicken avatars in the same art style as the show. There are 10,420 NFTs in total and holders receive benefits such as voting rights for certain aspects of the program and exclusive rewards, content and experiences.
NFTs help rural artists gain exposure
Although the main media have recently gained attention Stating that NFTs are โultimately totally uselessโ, a digital artist from rural Victoria, Australia, has highlighted a key use case for the technology; expand exposure of regional/remote creatives.
Speaking to the ABC on September 22, Warracknabeal-based artist Ben Fowler. emphasized that tokenizing his artwork allowed him to reach a global audience and help his career grow from home, without having to move from cities like Melbourne, which are almost four hours away.
"I listed my Astral Travel Sickness piece... which sold in a matter of three days, and at the equivalent of 0.34 Ether, which at the time was worth about $930," he said, adding that: "Then I added another one and sold , and anotherโฆ people kept resonating and buying it and I started meeting new people and it just took off.โ
"[It] It definitely helps people from regional places who won't be able to go to places like Melbourne to create a career for themselves. [...] "Artists don't make a lot of money unless they're at a really high level, but it allows lower-level artists and creatives to cash in on some of this and earn what they're worth, and that's a beautiful thing."
Related: NFTs are 'totally useless', say mainstream media, community responds
Other nifty news:
Bitcoin Ordinals creator and chief coder Casey Rodarmor recently proposed changing the protocol numbering system with the aim of simplifying the project's code base.
Proof of Play, a company run by Farmville co-creator Amitt Mahajan, raised $33 million to create Web3 games, according to a September 21 announcement. Majahan is the CEO of Proof of Play and Twitch co-founder Emmett Shear is a board member.
Magazine: NFT Collector: William Mapan's Distance Sells Out, NFT Floats on Macy's Parade, Nouns DAO Forks
Post navigation
