Oil on canvas 74¾ by 74½ in. (189.9 by 189.2 cm.) Courtesy Sothebys
The non-fungible token landscape is evolving at a rapid pace, and artwork has quickly established its place at the heart of it all. It has created a plethora of opportunities for artists around the globe. This was underlined earlier this month as Raghava KK, the artist also known as NFT Punk, set a new record for Indian artists in this field.
His La Petite work went under the digital hammer at Sotheby’s digital Boundless Space auction for just $100. By the end of the auction, though, the artist’s work had sold for a colossal $94,500 to set a new record for Indian artists.
The event itself, which also saw photographer Peter Ruprecht’s work sell for just over $100,000, was one of the biggest of its kind. Featuring works from over 150 artists, it highlighted the growing interest in this type of artwork. Furthermore, it showed how digital and physical artworks can work together. This was evidenced by NFT Punk’s work, which included both types of art for the winning bidder.
NFT auctions have gained a lot of headlines in recent times, and their popularity will only grow in line with demands for digital assets. As such, potential investors will naturally want to learn more about the best Ethereum wallets. Completing digital payments for digital assets will be the future. While artwork and luxury items are at the forefront of the current trends, it’s likely that they will gain a more universal appeal over the months to come.
Raghava is a Bengaluru-born artist who has been relatively well known in art circles for almost 20 years. He has since gained a reputation as one of the hottest artists in the US, with works being collected by the likes of Jeff Bezos and Shah Rukh Khan.
The latest sale of his La Petite work, which was a part of the Orgasm Project, has thrust the artist back into the spotlight. He is winning plaudits from India and beyond, not least due to his iconic desire to create art with his hands and feet.
Elsewhere, the power of artwork and NFTs has been shown by the launch of a new platform. LaCollection launched at the end of last month. Partnered with the British Museum and featuring the works of Katsushika Hokusai, it shows the potential of the digital arena. In total, the Japanese artist has created over 200 pieces for the platform.
The demand from art lovers has shown that talented artists like Raghava can achieve greatness in the digital arena. For art fans, the opportunity to own prized artwork and embrace NFTs in their infancy is highly exciting too. Like the cryptocurrencies used to complete transactions, NFTs can be seen as wise investments. After all, they capture a moment in human history as well as the artwork itself.
Auctions, direct sales, and other NFT-selling platforms continue to scale new heights. Raghava and co. are changing the landscape as we know it. The future of digital art has never looked brighter.
