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The visual artist known as Cam Rackam sold a collection of NFTs in 30 minutes and made thousands of dollars.
The collection, as mentioned, had more than 10 thousand non-fungible tokens.
To date, this is the largest amount he has received for the purchase of any of his creations.
The NFT fever continues and, although it seems that sometimes they prove not to be a great bet, for others it ends up being the best decision of their lives; in this case, the artist Cam Rackam managed to sell an entire collection in just 30 minutes, raising $738,000.
Until now, the artist had not achieved such an amount in a single job, since his most prolific sale had been that of a work of art, sold for $11,000 in 2015.
Artist sold NFT collection in 30 minutes and earned more than a million pesos
The Covid-19 pandemic affected all sectors, but without a doubt one of the most affected was the artistic sector. For him 42-year-old artist from Huntington Beach, California, almost all of his earnings were greatly reduced. The cancellation of events, exhibitions and the number of works sold each time were reduced. This was the main reason, according to the artist, to start dabbling in digital art. Rackam quickly adapted to the digital sector and started creating NFTs.
According to CNBC, he succeeded in reaping some works from blockchain technology. had been enough for the artist to decide to start designing his own NFT.
“I realized that by being able to see all the clients on the blockchain, at the same time, I could start to do really cool things with this. […]I started having some crazy ideas,” Rackam told CNBC Make It.
The foray into the world of digital art and NFTs began, according to the artist, when he began following a popular meme page on Instagram called @wallstmemes. He asked them if they wanted to collaborate on an NFT collection and they agreed without hesitation. Later, Cam Rackam designed thousands of images around a Wall Street-themed cartoon bull.
In this way, the well-known artist and the Instagram page managed to create enough buzz on digital channels.itals of Discord and other servers, so that managed to sell nearly an entire collection of 10,000 NFTs in 32 minutes after launch, which was done on October 27, 2021.
“In the first 5 minutes, about 2,250 NFTs had been sold, but then I realized that by minute 8 or 9, we were over half the total amount. We started thinking ‘Oh my God, we’re going to sell them real fast,’” the 42-year-old artist commented.
The collection was worth 660 Ethereum, which is equivalent to 2.6 million at the time they were sold; however, a few days later, the amount was closed with a value close to 1.7 million. This meant for Rackman a net profit of 738 thousand 593 dollars. In this way, the digital artist managed to overcome a gap that he never imagined being able to achieve in such a short time, “I got a little scared, I started screaming. He was calling people, yelling into the phone. I lit a cigarette at home and opened a bottle of champagne.”
It seems that as the months go by, the NFT market becomes more and more saturated. This has caused prices to rise to stratospheric amounts, however, we will have to wait how these assets continue to behave in the market, since their particularity based on blockchain technology allows them to become a bet for collectors to be considered by many companies and entrepreneurs.
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