It looks like the artist behind the distinctive look of the successful TV show “The Adventures of Rick and Morty” may have a new way to reach his fans directly. Justin Roiland just sold a range of NFT-based artwork on Gemini’s CryptoArt.io platform for a little more than 1,300 ETH – or a bit over $1.5 million USD.
The artist sold a range of pieces on the platform, and this sale shows that the apparent rush into NFT art isn’t cooling down one bit. The artworks that Roiland presented were numerous, with many available in sets of 5, 10, or 20.
The most expensive piece was a one-off, entitled “The Smintons”, which sold for a little less than $300,000 USD at the time of sale (it was sold in ETH, so that amount will change as the markets churn).
The piece appears to be Roiland’s vision of the famous TV family – The Simpsons – but with a very “Roiland” take on their appearance.
Gemini is Popping up Everywhere
The twin founding creators of Gemini–Cameron and Tyler Winklevoss, disclosed that they are considering the decision to take the Gemini exchange public.
There are a number of other crypto-focused companies that are working to access funding via the public markets, and added liquidity may help the companies grow faster.
In a recent interview, Cameron Winklevoss – President of Gemini, stated that they are still considering the move into public markets.
He told media,
“We are definitely considering it and making sure we have that option. We are watching the market and also having internal discussions on whether it makes sense to us at this point in time. We are certainly open to it.”
Big Support for the Industry
Tyler Winklevoss, known for being a serious crypto advocate, believes that crypto would partly relieve global inflation – which may be picking up in the near future. Central banks have taken unprecedented action over the past 15 years, with a major push to expand balance sheets happening in early 2020.
While the outlook for inflation is up for debate, other companies in the crypto space seem to be welcome in the public markets.
Coinbase, another leading crypto exchange, submitted its draft registration statement to the US Securities and Exchange Commission (SEC) last year. It was the first crypto exchange to attempt to enter the public markets, and it appears that it has been a welcome move.
Bakkt decided to go public through an acquisition with a $2 billion USD valuation earlier this month, and so far, the company is doing fine.
Casting a Wide Net
Unlike other exchange owners, Gemini has created a diverse asset portfolio in the crypto sphere – especially in crypto art.
While major investment interests are buying Bitcoin and Ethereum in greater amounts, Gemini may have tapped into another high-growth market.
NFT-based art sales hit a record high of more than $8 million USD last December, and with this sale, by Roiland the numbers for January should look pretty healthy.
To be sure, NFT art is an up-and-coming area and one that is worth watching. If NFTs can attract a popular and commercially successful artist like Roiland, there is no reason to think that other commercial artists that want to expand into new mediums won’t tap NFTs.
The Nature of Change
The recent split between the UK and EU shows how digital art may be more convenient for collectors in a world where the nature of legal ownership over physical goods is becoming more complex.
Many artworks were forced to ‘flee’ the UK due to tax changes associated with the Brexit, which could easily be avoided if the artwork had been in a purely digital format.
While this solution can’t be applied retroactively, new artworks that are in a pure NFT format can be moved easily around the world, like any other Ethereum token.
This may appeal to collectors who don’t want to deal with miles of red tape when moving their art – or possible seizure by cash strapped governments looking for hard assets.