Forget DeFi; non-fungible tokens (NFTs) are where it’s at. Evidence of that is available in the kind of ‘Homer Pepe,’ an uncommon NFT that integrates the cherished Homer Simpson character with meme genius Pepe The Frog.
The other day, the previous owner of ‘Homer Pepe,’ Peter Kell, published on his Instagram that he had actually offered it for 205 Ethereum, or $312 k.
Source: @zippi101 on Instagram.com
‘ Homer Pepe’ NFT Turns a 700% Revenue
Kell’s story started in early 2018 at the Rare Art Labs Digital Art Festival auction in New york city City. Meme lovers loaded a little occasion space to bid on Pepe The Frog-inspired NFT art work.
Up for deal were an entire host of Pepe-derived art work. This consisted of a Salvador Dali-esque product including melted Pepes, instead of clocks, in the artist’s hallmark surrealist design. However it was ‘Homer Pepe’ that was the star of the program.
Billed by the auctioneer as “the most pricey uncommon Pepe around,” a bidding war quickly emerged to get ‘Homer Pepe.’ And i t was Kell who won, with a last quote of $385 k.
The other day, Kell revealed that he had actually offered ‘Homer Pepe’ for an incredible 205 ETH, which netted him a 700% return on his financial investment.
Commenting on the sale, Kell stated individuals buffooned him when he paid $39 k for ‘Homer Pepe,’ over 3 years earlier. However provided the rising interest in NFTs of late, he ultimately had the ultimate victory.
He included that digital art and NFTs “are the genuine offer.” What’s more, Kell sees this as a pattern that will just grow in time.
“ They chuckled when I purchased HomerPepe for $39 k. However when I offered it for 205 ETH … &#x 1f633; &#x 1f633; &#x 1f633; &#x 1f633; &#x 1f389; &#x 1f389; &#x 1f973; however yeah. unfortunate to see my HomerPepe story concerned an end. However this is a definitely ridiculous occasion in the NFT world. I have actually certainly found out the worth of Digital Art. More evidence that NFTs are the genuine offer and will be a huge part of how art is offered in the future. #nft#digitalart“
Non-Fungible Tokens Fall Within The Artist’s World
The host of the Bankless Podcast, David Hoffman, stated NFTs combine the world of art and crypto. However in such a way that bypasses the technical predisposition that is often present on the crypto side.
Hoffman stated artists do not care about Ethereum; they just care to reveal themselves artistically. He associates the boom in NFTs to a growing awareness by artists that NFTs are a method to do that.
” We are at an inflection point in history, particularly artist history. They do not care about Ethereum, they do not care about DeFi. They appreciate having the ability to culturally and artistically reveal themselves and they are seeing NFTs as the car to do that.”
NFTs continue to divide viewpoint, particularly concerning the amounts of cash for which they can alter hands. However as Hoffman mentioned, NFTs are quite in the world of artists and art collectors, not crypto token speculators.
Source: ETHUSD on TradingView.com
Samuel Wan Read More.