Irreplaceable tokens, or more commonly referred to as NFT, continue to be a hot topic for discussions within the crypto market.
Some argue that they have practically run out of energy, but several recent events seem to show the opposite.
XCOPY, a pseudonym of a crypto artist, sold NFT worth nearly $24 million in just 10 minutes.
The majority of the profits collected came from the open felling of tokens of the work “MAX PAIN“, although a series of ranked auctions also brought significant amounts.
The crypto art pioneer’s NFT has become something of a “holy grail” for true collectors, with several of its limited NFT series sold for several million dollars in recent months.
And on Friday, when it posted a more affordable NFT, it generated an estimated $24 million in sales in a matter of minutes.
“It was extremely intense,” XCOPY said shortly afterwards.
XCOPY demonstrates that high value NFT works will not disappear.
Nifty Gateway was used to launch the london-based crypto artist’s new NFT collection. The highlight of the occasion was MAX PAIN, which was sold with six other limited series.
XCOPY attracts attention in NFT space
XCOPY is no ordinary NFT artist. Perhaps the artist is best known for his irreplaceable token “Right-click and Save as a person,” which was sold for an incredible $7.1 million on December 10 last year, making it one of the 10 most valuable NFT.
The term “Right-click” is chosen to parody people who constantly refer to cryptographic art as something useless that can be right-clicked and saved for free.
MAX PAIN is now owned by 5,255 unique individuals, with nearly 140 secondary transactions taking place in less than 24 hours after initial release.
Typically, the artist creates limited edition, one-of-a-kind works in a similar way, with titles that comment on NFT culture and/or criticism of others, such as Right Click and All-Time High in the City.
The value of these and other items has steadily increased as the NFT market as a whole has grown.
Those who wished had a 10-minute window at the time of selling MAX PAIN to create an NFT, with no limit on the total number that can be cut.
A total of about 7,394 NFT were created at a price of $3,108 per unit – the price of one Erium at the time of the sale.
Meanwhile, while the noise around NFT may not be as intense as it was towards the end of last year, the trend is far from gone, as some have claimed.