Grimes just made $5.8 million in under 20 minutes selling crypto-based artwork | Currency News | Financial and Business News


    grimes elon musk
    Elon Musk and Grimes attend the Met Gala in 2018.

    • Grimes launched a digital art collection titled WarNymph on Sunday.
    • The singer has already earned over $5.8 million from the collection.
    • The artwork includes an image of a baby protecting Mars, where her boyfriend, Elon Musk, plans to travel.
    • Visit the Business section of Insider for more stories.

    Grimes is auctioning off a collection of digital artwork for millions of dollars.

    The singer launched her digital collection, WarNymph, on Sunday and plans to sell the crypto art for 48 hours.

    Over the past few weeks, online sales of non-fungible tokens or NFTs, have taken off. NFT art products – which operate as a unique type of digital asset or token – have in some instances sold for over $3.5 million a piece, contributing to a crypto-art market that is currently valued at over $100 million.

    Grimes has already collected nearly $6 million from the 10 NFTs, which brought in over $5.8 million in under 20 minutes. The singer announced the auction on Twitter.

     

    One piece – an image that depicts a baby guarding Mars – has garnered significant attention, trading at over $300,000 in under 10 minutes. The “Newborn 2” NFT is already being resold on the platform for as much as $2.5 million.

    People online have speculated that the baby included in the WarNymph collection is actually a representation of Grimes and Tesla CEO Elon Musk’s baby, though Grimes calls the baby in the artwork “the Goddess of Neo-Genesis.”

    Grimes is selling the art pieces on the NFT trading platform Nifty Gateway. The collection was the result of a collaboration with the singer’s brother, Mac Boucher, who has worked with Grimes in the past on past projects.

    The artwork includes ethereal images of a baby with wings in space and some pieces are set to new music created by Grimes. The piece “Earth” features the unreleased “Ærythe,” “Mars,” has the “Mars Theme,” and “Death of the Old” contains a demo of “Anhedonia.”

    A post shared by Nifty Gateway (@nifty_gateway)

     

    WarNymph appears in the artwork as a baby to manifest “a state of infinite infancy where she sheds her old skin of corruption,” according to the site. “She battles the destructive force of obsolete ideas and systemic decay that threatens the future.”

    The singer plans to give a portion of the proceeds to Carbon 180, a nonprofit organization focused on reducing carbon emissions. The singer’s boyfriend, Musk, has been very outspoken about reducing carbon emissions. In February, Musk revealed details about a $100 million carbon capture competition he was funding.

    The NFT collection is just one of many Grimes plans to sell. The artist is creating an entire mythical universe called Oth3rkin. The WarNymph will continue to evolve as a part of the Oth3rkin universe.

    Grimes only has one piece left in the collection up for sale. Titled “Death of the Old,” the NFT was released Monday morning and currently sits at $200,000.

    The singer is just one of many artists cashing in on NFTs. In February, digital comic artist Chris Torres sold an NFT of his Nyan Cat for nearly $600,000. 

    The digital tokens have become an increasingly lucrative market. Billionaire investor Mark Cuban has been vocal about investing in NFTs. In February, Lindsay Lohan sold an NFT for $59,000. 





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