INTERNATIONALLY-recognised home-grown artist Katun has done it once again – making waves in the Malaysian art scene as he takes off with his premiere NFT (non-fungible tokens) journey.
Copping a sold-out limited edition NFT in a record time of 30 minutes as well as selling 776 pieces of his open edition in 24 hours, Katun managed to reach a total sales of 127.60 ETH (ethereum) – an approximate equivalent of RM1.6 mil (US$401,000).
Katun’s debut appearance in the NFT world included two releases – “Apes Stand Strong” (a limited edition of 50 mints [pieces]) and “Mystical Fruits” (an open edition).
Katun is the first artist to launch an NFT on the cryptocurrency platform Superfarm which is co-founded by famous YouTuber elliotrades.
His limited edition NFT “Apes Stand Strong” (50 pieces) was sold out in less than 30 minutes for 1 ETH each – all together totalling 50 ETH – which is an equivalent of about RM670,000 (US$158,000).
Additionally, Katun also sold 776 pieces of his open edition NFT “Mystical Fruits” for 0.10 ETH each in a span of 24 hours for a total sum of RM1.02 mil (US$245,000).
The budding artist’s total earnings of RM1.67 mil (US$401,000) for his maiden NFT release puts Katun at the top of the NFT world in Malaysia as a local artist. This is the most expensive batch of NFT’s sold in one release for 24 hours by a local Malaysian artist to date.
Resellers in the NFT world are currently selling his limited edition pieces for 1.99 ETH, almost twice its original listing price on other platforms such as opensea – a globally renowned popular NFT site.
It’s no surprise that this young Malaysian street artist is going places with numerous brand collaborations, murals, toys, prints and apparel under his belt as well.
Since last year, Katun has created his very own art collective, 4 Stages – a collective of Southeast Asian artists working together to encapsulate the appreciation of what art is in this region.
By : Cheah Chor Sooi – FOCUS MALAYSIA