30,000% increase in beeple NFT value… Investor “I bought it without knowing how to rise like this” (www.blockcast.cc)
“I’ve been a longtime fan of Biffle, but I didn’t know about NFT.”
[Blockchain Today Reporter Seung-won Jeong] After purchasing the NFT of digital artist’Beeple’ in December of last year by co-founder Edward Fairchild of THC Design, a cannabis company based in LA, the price of NFT is 30,000% It has increased by about.
According to Cointelegraph, Fairchild elaborates on this story in an article reported by Business Insider on March 14, and despite being a long-time fan of Biffle, he doesn’t know anything about the NFT, and tokenized art at the time of purchase. He said he thought that few people would like to collect it.
“I didn’t know what NFT is, and I haven’t even heard of the NFT Gateway […] I didn’t understand,” he said. I couldn’t even imagine it.”
Fairchild recalled that while viewing Instagram in December of last year, he accidentally saw a video of a famous NFT artist Biffle. Despite his skepticism about tokenized art, investor interest was stimulated by Baffle’s 2020 collection, which showcased works that fuse NFT and physical art.
Fairchild purchased Biffle’s’The infected Culture’ for $969, along with an art piece showing one of the three works as a ring gif on the screen in a decorative display box. This work was provided with a certificate of authenticity and a hair sample from Biffle.
Investor Fairchild, who predicted that he could sell his work for 100% profit in the next few years, was unaware of the recent boom in the NFT market. However, in the second sale of Beeple, it doubled the base selling price within 10 minutes of completing the auction.
Another copy of the’Infected Culture’, which was sold for $288,000 on February 26, showed that within three months the value of the asset had risen to nearly 30,000%.
However, the Los Angeles-based investor later revised the target, creating a list of works to sell to Niftigate for more than $1.6 million.
On March 11, Biffle auctioned off his latest work’Everydays’ at the NFT Market Place, reaching a record of $69 million.
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