Local Graffiti Artist, Katun Sells NFT Collection ‘Apes Stand Strong’ For Over RM1.6 Million in 24 Hours

By Charmaine Shaharin  •  23 Aug 2021 in Design

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Ever since Non-Fungible Tokens aka NFT’s made their mark in the art industry, more local artists have gained global recognition.

First, it was contemporary artist, Red Hong Yi and her Doge To The Moon artwork which sold for 36.3 ETH ( RM325,000) in an online auction.

Now, local graffiti artist and illustrator, Katun has managed to gain a total of 127.60 ETH (RM1.63 million) for his ‘Apes Stand Strong’ artwork collection. Katun last made headlines in JUICE when he designed Chris Brown’s single’s artwork.

Made available on the Superfarm platform, Katun’s ‘Apes Stand Strong’ NFT was priced at 1 ETH which is equivalent to RM12,840. Nonetheless, it was a limited edition release and all 50 pieces of the art were sold out within 30 minutes.

 

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According to Lowyat, individuals who have purchased the artwork would also receive a physical and numbered print of the artwork although they have to hold the NFT for at least two months.

If they managed to do so, these individuals would receive an “evolutionary version” of ‘Apes Stand Strong’ that is dubbed as ‘Inferno’ on 18 October.

Whereas, another NFT titled ‘Mystical Fruits’, sold 776 pieces in the span of 24 hours too. Since this piece wasn’t a limited edition released, it was priced at 0.10 ETH (RM1,284).

Just like ‘Apes Stand Strong’, ‘Mystical Fruits’ is also packed with special features – 20% of the NFT will randomly evolve into a special edition artwork called ‘Garden of Bloom’ on 18 October.

Art is subjective and holds no borders, and with NFT’s dominating the trend, we hope more local artists get a chance to sell their works.