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| Huliodraws |
Zimbabwean digital artist Nyasha Warambwa, who uses the moniker Huliodraws, ykHulio and Hulio on his digital artwork pieces, minted a Non-Fungible Token (NFT) for his latest Drake artwork piece titled Welcoming CLB and sold it for 2.5 Ethereum (approximately $8,288.25) through an auction sale on Foundation - a online community based trading platform that use Ethereum blockchain technology to auction and sell digital art non-fungible tokens (NFT).
"After an intense bidding war last night, Welcoming CLB finally sold for 2,5 Eth. Thank you so much to every person that bid and saw the value in this piece, huge thank you." Said Warambwa in a Tweet that also revealed the buyer. "Congratulations to mrbankzzzz who is now the proud owner of this piece. You’ve supported me greatly." He continued.
The new owner wasted no time by immediately re-listing the artwork for sale at US$1,471,993.20 equivalent, reserve price. "Welcoming CLB has been re-listed on secondary market by its new owner for 444eth ($1,439,643.36) crazy someone sees this type of value in my art. I really hope it sells and makes a profit for its new owner!" said Warambwa in a Tweet.
Considering the huge mark-up, the Harare based artist was flooded with comments from worried followers who assumed Nyasha Warambwa had shot himself in the foot by selling the artwork for US$8,288.25 but, NFTs are designed in such a way that an artist receives royalties every time their artwork is resold.
"After an intense bidding war last night, Welcoming CLB finally sold for 2,5 Eth. Thank you so much to every person that bid and saw the value in this piece, huge thank you." Said Warambwa in a Tweet that also revealed the buyer. "Congratulations to mrbankzzzz who is now the proud owner of this piece. You’ve supported me greatly." He continued.
The new owner wasted no time by immediately re-listing the artwork for sale at US$1,471,993.20 equivalent, reserve price. "Welcoming CLB has been re-listed on secondary market by its new owner for 444eth ($1,439,643.36) crazy someone sees this type of value in my art. I really hope it sells and makes a profit for its new owner!" said Warambwa in a Tweet.
Considering the huge mark-up, the Harare based artist was flooded with comments from worried followers who assumed Nyasha Warambwa had shot himself in the foot by selling the artwork for US$8,288.25 but, NFTs are designed in such a way that an artist receives royalties every time their artwork is resold.
Just to clarify for the people worried for me 🙏🏽❤️ @withFND gives a percentage of all secondary sales to the original seller.Appreciate y’all though💯 https://t.co/UABlJKVbs8
— Ξ𝖍𝖚𝖑𝖎𝖔 (@ykhulio) September 11, 2021
We have covered the subject on non-fungible tokens (NFT) here.