How to make $ 300,000 on NFT?
Posted: 11 May 2021, 18:40
- Edward Fairchild bought the painting in the form of NFT from the famous artist Beeple for $ 969.
- Now the painting is worth almost $ 300,000.
- Fairchild intends to sell the work for $ 1.7 million.
An investor who bought NFT from the popular artist Beeple (the author of the work, which was recently bought for almost $ 70 million) for $ 969, earned more than 30,000% in a few months.
This investor is Edward Fairchild, one of the founders of cannabis company THC Design. Before his first purchase of digital art, he knew nothing about non-fungible tokens, and made the investment for 2 years.
“I had no idea that you can buy some kind of digital art for $ 969 , and then it will rise in price to $ 300,000. Moreover, in just 3 months, ”says the investor.
Fairchild stumbled upon the Beeple video while flipping through his Instagram feed. He was skeptical about tokenized art, but his attention was drawn to the artist's 2020 collection, which featured a wide variety of works.
Fairchild decided to purchase a painting called "The Infected Culture" for $ 969. Together with the work, the investor received a certificate of its authenticity.
Immediately after the purchase, Fairchild hoped to resell the painting for a 100% profit over the next two years. The investor did not suspect that the so-called NFT boom is developing right now, and Beeple's works in the secondary market are growing in price exponentially.
"Infected culture" already 10 minutes after the end of the auction began to cost 2 times more, and within three months the price increased by 30,000%.
Fairchild is apparently not happy with the 30,000% profit as he put the painting up for sale for $ 1,688,888.
- Now the painting is worth almost $ 300,000.
- Fairchild intends to sell the work for $ 1.7 million.
An investor who bought NFT from the popular artist Beeple (the author of the work, which was recently bought for almost $ 70 million) for $ 969, earned more than 30,000% in a few months.
This investor is Edward Fairchild, one of the founders of cannabis company THC Design. Before his first purchase of digital art, he knew nothing about non-fungible tokens, and made the investment for 2 years.
“I had no idea that you can buy some kind of digital art for $ 969 , and then it will rise in price to $ 300,000. Moreover, in just 3 months, ”says the investor.
Fairchild stumbled upon the Beeple video while flipping through his Instagram feed. He was skeptical about tokenized art, but his attention was drawn to the artist's 2020 collection, which featured a wide variety of works.
Fairchild decided to purchase a painting called "The Infected Culture" for $ 969. Together with the work, the investor received a certificate of its authenticity.
Immediately after the purchase, Fairchild hoped to resell the painting for a 100% profit over the next two years. The investor did not suspect that the so-called NFT boom is developing right now, and Beeple's works in the secondary market are growing in price exponentially.
"Infected culture" already 10 minutes after the end of the auction began to cost 2 times more, and within three months the price increased by 30,000%.
Fairchild is apparently not happy with the 30,000% profit as he put the painting up for sale for $ 1,688,888.