Ethereum is giving rise to a new craze in NFTs (non-fungible tokens). Over the weekend, 70 artists successfully sold their artwork for millions of dollars on the blockchain, going viral with their feat.
Ethereum art growth further
Hashmasks, a new project on Ethereum, made headlines in the blockchain community by selling a collection of 16,000 artworks for $9 million. This has made the founders of the project rich overnight. The December, crypto art sales touched $8 million. During this time, well-known crypto artist Beeple sold NFTs to buyers. In January, Justin Roiland, the creator of Rick & Morty also sold some of his sketches for $1.5 million.
Hashmasks is the newest project that jumps into the Ethereum art bandwagon. Within just 4 days of launch, their collection generated $9 million in sales, making them the top NFT collectible on the Ethereum blockchain. Terra Virtua CEO Gary Bracey commented on the evolving NFT art scene and said,
“The issue is that no-one really can predict what will win and what will fail. This is what is so exciting about being involved in such a market—there are no rules or precedents and so at the start, one person’s idea is as good as another.”
A big achievement for Hashmasks
The first batch of Hashmasks collectibles sold for 0.1 ETH on 28 January. Every new batch started selling for a higher price. By February 1, all the artworks in the collection were sold. Three pieces were sold for 100 ETH. In December and January, the NFT sector on Ethereum grew by 10x, a majority of which was contributed by this project.
The first collection sold on the project, Hashmasks 1, was bought for 0.1 ETH on day 1 but was sold for 100 ETH within just three days. The interesting thing about these collections is that they feature a human-like figure, sometimes with extra-terrestrial looks, painted in color. Some of them are inspired by works like Hamlet.