Nyan Cat NFT Auctioned Off For 300 ETH

The creator of the Nyan Cat meme has confirmed the sale of digital paintings for 300 Ether (ETH) – round $600,000 on the time of the sale.

Created again in 2011 by Chris Torres, Nyan Cat is a chunk of web historical past. The gray GIF cat flying by area on a rainbow is unquestionably one of the vital well-known memes on the market right this moment, and now it’s develop into much more well-known for the value it bought for in an internet public sale.

No, Torres didn’t promote the GIF itself, however reasonably a cryptographic hash of the paintings on the Ethereum blockchain. Confused? Properly, let’s simply say he bought the rights to the paintings.

As cryptocurrencies get an increasing number of well-liked, artists are promoting non-fungible tokens (NFTs) – digital objects which were authenticated on the blockchain. Nyan Cat was just one in lots of – maybe probably the most well-known – NFTs to be bought recently, netting round $600,000 in Ethereum (300 ETH) for its creator.

Simply opened up the flood gates to the way forward for meme financial system within the Crypto universe, no large deal~
However significantly, thanks for believing in Nyan Cat all these years. I hope this conjures up future artists to get into #NFT universe to allow them to get correct recognition for his or her work! pic.twitter.com/JX7UU9VSPb
— ☆Chris☆ (@PRguitarman) February 19, 2021

Nyan Cat isn’t the costliest NFT to be bought – A Crypto Punk variant was priced at over $1 million. The NFT-based artwork market is now surging together with the cryptocurrency markets and is estimated to be value over $100 million.

It’s undoubtedly an fascinating time to be alive, don’t you suppose?

Picture: Chris Torres / Nyancat