Tag: Artnet

‘10 NFTs That Were Sold at a Substantial Loss,’ and two other stories for Artnet News

I’ve been busy lately writing stories for Artnet News about NFTs and the NFT market. These stories aren’t paywalled, so you can read them: 

‘Fat Finger’ Errors or Bad Investments? Here Are 10 NFTs That Were Sold at a Substantial Loss as Crypto Markets Have Cooled [Artnet]

I looked at 10 NFTs that sold for a massive loss. Would it surprise you to know that several of them were Bored Apes? Lots of fat finger listings amongst the Apes. 

‘It’s Probably Gonna Be a Huge Cry Fest’: Plunging Crypto Markets Cast a Shadow Over NFT.NYC and Its Jittery True Believers” [Artnet]

This market analysis piece has quotes from NFT archeologist Adam McBride and investor Francis Kim. 

You may remember Kim — the Australian who lost a bunch of money margin trading on Binance and was written up in the Washington Post. Now he’s launching an NFT project while the crypto markets are crashing. He hasn’t made any money yet. 

“I feel like a victim in every story,” he told me.

‘I Am Very Sorry’: Takashi Murakami Apologizes to His Crypto Investors on Twitter as His NFT Prices Nosedive [Artnet]

Japanese artist Takashi Murakami tells his fans that he is so very sorry his flower NFTs aren’t going up in price. He is so sorry, in fact, that he is launching a new NFT collection. Maybe he’ll be double sorry? [Artnet]

Posted on by Amy Castor 1

The Art Angle: ‘The Whole Bored Ape Yacht Club Phenomenon, Explained’

I was recently interviewed by Artnet News Editor Julia Halperin on Yuga Lab’s Bored Ape Yacht Club project for an Art Angle podcast. We talked about how Yuga Labs got its start, the launch of BAYC, and how Yuga is currently transforming itself into a gaming company. 

One thing I keep stressing is the importance of fungible tokens like Apecoin in these NFT projects. They allow investors and insiders to sell to the general public, while BAYC itself becomes just a publicity stunt. 

It’s very difficult to find buyers outside of the crypto universe for a $250,000 NFT. You are much better off creating an ERC20 token and getting it listed on Coinbase — which is exactly what Yuga Labs did in conjunction with its backer a16z.

In any case, it was a delight speaking with Julia. She asked a lot of good questions.

You can listen to the podcast on iTunes and on Spotify. The podcast was based on a related story I wrote on BAYC for Artnet News last month.

Posted on by Amy Castor 0