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3LAU hosts at Rehab Beach Club on May 14, 2017 in Las Vegas. âI think it will be very difficult to replicate again, says 3LAU about his $11.7 million NFT sale. âThis was an experiment that was wildly successful beyond my wildest imagination.â The $11.7 million price tag on 3LAU s sale of 33 collectible NFT non-fungible token versions of his 3-year-old album, Ultraviolet, on Feb. 25 has become a beacon for the music industry over the past three weeks. There s clearly money to be made in digital collectibles and now there s a rush to break into the market. But artists beware: Exponential growth like this is not sustainable and many of the people who were involved in NFTs early on do not expect these exorbitant sale prices to continue. ....
Lushsux/Instagram Australian social media titans Brown Cardigan and self-proclaimed ‘meme artist’ Lushsux say they’ve profited by selling non-fungible tokens (NFTs). Both Brown Cardigan and Lushsux have sold purely digital artwork as NFTs, with the value of some pieces spiking in price on the second-hand market. But their presence in the potentially lucrative NFT scene may not be in line with the beliefs of some fervent crypto-believers, who want to spark a revolution in art and commerce. On the evening of March 4, 2021, a drab brown .jpeg image sold for nearly AU$1,400. This digital artefact was bought by an American blockchain idealist, who believes crypto assets will revolutionise creative expression. ....
Pete Gamlen In the past two weeks, digital non-fungible tokens have grown from a niche interest to mainstream million-dollar sales. “It was one of those moments in my life where I was like, Holy shit, recalls DJ-producer 3LAU, “‘I think we just changed everything. That holy-shit moment, shared by most of the music business, was his Feb. 25 auction of 33 collectible NFT non-fungible token versions of his 3-year-old album, Ultraviolet, that sold for $11.7 million (one NFT went for $3.6 million) which included vinyl, unreleased music and the chance to record with 3LAU. That’s real money for a virtual good, setting a record for the primary sale of an NFT collection at the time and making history as the first album to be tokenized. ....
Pete Gamlen In the past two weeks, digital non-fungible tokens have grown from a niche interest to mainstream million-dollar sales. “It was one of those moments in my life where I was like, Holy shit, recalls DJ-producer 3LAU, “‘I think we just changed everything. That holy-shit moment, shared by most of the music business, was his Feb. 25 auction of 33 collectible NFT non-fungible token versions of his 3-year-old album, Ultraviolet, that sold for $11.7 million (one NFT went for $3.6 million) which included vinyl, unreleased music and the chance to record with 3LAU. That’s real money for a virtual good, setting a record for the primary sale of an NFT collection at the time and making history as the first album to be tokenized. ....
NFT Platform Zora Chips Away at Ethereum’s Carbon Footprint Zora is supporting rainforest preservation efforts and a wind farm. In brief Zora, an NFT marketplace, is looking to offset Ethereum’s emissions cost through a dedicated carbon offset. NFTs come at a significant energy cost, since they’re typically on the Ethereum blockchain. Zora is supporting a wind farm in Honduras, and a project called Agrocortex, which works to protect the Amazon rainforest. NFT marketplace Zora is chipping away at Ethereum s ecological footprint with a 50-ton carbon offset. The company said it paid for a 20-ton offset of CO2e (carbon dioxide equivalent) from the Cerro de Hula wind farm in Honduras, and a 30-ton offset from the Agrocortex Redd Project a carbon offset effort working to protect the Amazon rainforest. ....