Recapping the evolution of the NFT in Singapore, from toasted bread.jpegs…

From Toasted Bread .jpegs To Multi-million Dollar Art Sales: Recapping The Nft Rise In S’pore

Recapping the evolution of the NFT in Singapore, from toasted bread .jpegs to multi-million-dollar art sales

Singapore has accepted blockchain technology with open arms in recent years. As a result, it’s no wonder that the country has seen some of the most interesting NFT breakthroughs.

NFTs swept the world by storm at the start of 2021, despite the fact that they’d been floating about the internet since 2014. Over the course of the year, they sold roughly $20 billion worth of merchandise. In comparison to 2020, this was a more than 20,000% rise.

In fact, in 2021, the single greatest NFT purchase — worth US$69.7 million — was worth more than half of the previous year’s total sales.

Investors poured money into the sector as a result of its remarkable expansion. NFTs have gone from being seen as a vehicle for internet memes to being viewed as a treasure of untapped potential.

More firms appear to be exploring this ever-changing arena as 2022 begins to gain its foothold. Here are the significant NFT advancements from the past year that indicate what lies ahead for Singapore’s metaverse future.

A Singaporean entrepreneur paid $69.7 million for Beeple NFT

When NFTs finally broke through and took over mainstream media in March 2021, it was a watershed moment.

Beeple, a digital artist, auctioned an NFT collage comprised of 5,000 of his works. He began the endeavour in 2007 and dedicated himself to making a new work of art every day.

‘Every day’s — the first 5,000 days,’ the finished product, was sold for US$69.7 million. As a result, it became the most valuable piece of digital art ever auctioned.

beeple everydays the first 5000 days

Everydays — the first 5,000 days by Beeple

The buyer elected to expose himself soon after the purchase, despite the fact that he was anonymous at the time of purchase. Vignesh Sundaresan, a Singapore-based entrepreneur, told CNBC that he bought the NFT because it will be a significant piece of art history. If it had been necessary, he would have bid much higher.

The sale of the Beeple NFT was widely publicized, paving the stage for NFTs to become the global phenomenon that they are today.

Shopping mall closures are compensated for via NFT marketplaces

Despite the fact that physical stores and shopping malls were forced to close due to the epidemic, NFT marketplaces thrived.

Mintable, a Singapore-based NFT marketplace, raised US$13 million in Series A funding in July 2021. Mark Cuban, a billionaire entrepreneur and NBA franchise owner, as well as Ripple Labs, the startup behind the XRP cryptocurrency, and MetaPurse, an NFT investment vehicle founded by Vignesh Sundaresan, were among the investors (the one who bought the Beeple NFT).

Since then, Mintable has collaborated with firms like BAPE and CNBC to offer NFTs. Along with NFL quarterback Trevor Lawrence, the highest-selling NFT collection on the platform was published, which sold for roughly US$230,000.

trevor lawrence mintable

NFTs from the Trevor Lawrence collection which launched on Mintable

Brytehall was a Singapore-based NFT platform that launched in 2021. It was founded with the intention of bringing high-end art and fashion into the metaverse.

In December, the site held its inaugural auction in collaboration with Specialized, an American cycling business. ‘Onishi-E: The Living Bicycle’ was sold for $50,000 in the United States.

Brytehall, which was founded by the creators of Media Publishares, was also in charge of releasing NFT collections by Vogue and Esquire in Singapore.

ARC, an elite digital community formed by Kiat Lin, the son of Singaporean billionaire Peter Lim, is the newest addition to Singapore’s NFT scene. In the near future, ARC hopes to establish its own copy of the metaverse.

Singapore’s first large-scale NFT exhibition is held at a Freeport

Coinhako, a Singaporean crypto exchange, partnered up with Appetite, a research centre, to host the country’s first NFT exhibition in November 2021.

Right-Click + Save was the title, and it alluded to everyone’s initial suspicion of NFTs: “Buy a.jpeg? “However, I could just right-click and save.”

Through landmark works by artists such as Andy Warhol, Beeple, and Refik Anadol, the show explored the evolution of digital art and NFT culture.

right click plus save refik anadol

A projection of Refik Anadol’s Machine Hallucinations, on display at Right Click + Save

Right-Click + Save was hosted at Le Freeport as a deliberate irony.

Freeport is a highly secure storage facility that facilitates the trading of high-value items such as art and jewellery. They exist as special economic zones that are exempt from standard tax and customs regulations. Money laundering claims have frequently been levelled against these facilities.

Similar objections have been levelled at NFTs as well. Sceptics have often dismissed NFTs as money laundering instruments because their value is purely subjective and their benefit isn’t always obvious.

Print media ensures that it will continue to exist indefinitely

After spending so much time writing about NFTs, Singaporean media outlets couldn’t help but cash in on the trend.

Vogue Singapore announced a collection of 40,000 mystery boxes on Binance in August 2021. Each box contained one of ten different artworks picturing an astronaut touring a famous city, each costing $20.

vogue singapore nfts

Vogue Singapore launched a Mystery Box with exclusive sunrise NFTs

The entire collection sold out in less than 24 hours, making it one of Binance’s fastest mystery box sales ever.

Vogue Singapore returned to NFTs later in the year with a collection featuring pieces by notable designers such as Shavonne Wong and Chad Knight. An exclusive collaboration with luxury fashion label Balmain was also featured in the collection.

Separately, The Straits Times’ inaugural NFT collection generated over US$15,000 for charity. The graphic of a Straits Times column titled ‘Own a piece of the metaverse’ was used in the highest-priced auction.

A work named ‘The Permanence of Cats’ was also included in the collection, which was a parody of Salvador Dali’s ‘The Persistence of Memory,’ with all the watches replaced by cats.

In collaboration with The Dematerialised, Esquire Singapore jumped on the NFT bandwagon at the end of the year. Tobyato, a Singaporean artist, produced an NFT sneaker collection for the lifestyle magazine. The rarest of the NFT sneakers were sold alongside actual counterparts to explore physical concepts in the metaverse.

Local artists find a new creative outlet

Singapore’s artists had a very difficult year in 2021. A poll conducted by Milieu Insight at the height of the pandemic demonstrated how highly the country valued artistic endeavours.

It turned out that there wasn’t much. The job of an artist, according to 71% of respondents, is the least important of all. As firms went through a time of slump, those in creative roles were among the first to be laid off.

NFTs gave an opportunity for certain creators to continue pursuing their passions.

Chanel Lee, a Singaporean artist, left the corporate sector to launch her own NFT line, which includes 7,600 toasted bread artworks.

Tasty Toastys

Tasty Toastys by Chanel Lee

Alan Seng quit a computer start-up to establish digital trading cards with art student Marc Yap. Within the first hour of its release, their ‘Dark Zodiac’ collection had garnered over $1 million in sales.

Shavonne Wong, a fashion photographer, started selling her 3D work as NFTs in 2021 and made over US$60,000 in sales.

Is it safe to say that NFTs are here to stay?

It’s difficult to picture a $40 billion industry going away suddenly. NFTs have endured the wrath of doubters in the past year and emerged unhurt.

The value of these tokens has expanded beyond that of collectable art. NFTs are being used as virtual real estate, governance tools, and vouchers.

It’s difficult to forecast the future of such a dynamic region, or what form NFTs will take next, but it’s safe to assume they’ll be there for a long time.

176 Comments on "Recapping the evolution of the NFT in Singapore, from toasted bread.jpegs…"

  1. date online site: online dating ukraine – top online dating

  2. Jimmyflopy | August 7, 2023 at 3:56 pm |

    prednisone 20 mg generic: can you buy prednisone over the counter in usa

  3. best canadian online pharmacy canadian pharmacy store

  4. amoxicillin price canada amoxicillin 775 mg – amoxicillin 800 mg price

  5. ClaudeFlina | August 10, 2023 at 2:31 pm |

    amoxicillin 30 capsules price amoxicillin 500mg without prescription – amoxicillin without a doctors prescription

  6. All trends of medicament.
    buying mobic pill: can i purchase cheap mobic pill – can i order cheap mobic tablets
    Medscape Drugs & Diseases.

  7. canadian pharmacy store cheap canadian pharmacy online

  8. cheap erectile dysfunction treatment for ed ed pills online

  9. Samuelclura | August 11, 2023 at 1:23 am | canada cloud pharmacy

  10. online ed medications

  11. ClaudeFlina | August 11, 2023 at 1:24 pm |

    amoxicillin tablets in india amoxicillin 500mg capsule cost – amoxicillin 500 capsule

  12. cost of amoxicillin 875 mg: amoxicillin 500 mg price amoxicillin 30 capsules price

  13. can you buy generic mobic pill: where buy generic mobic without insurance – where buy cheap mobic without prescription

  14. amoxicillin 500mg price: amoxicillin 825 mg cost of amoxicillin 30 capsules

  15. Top 100 Searched Drugs.
    natural ed medications: drugs for ed – cheapest ed pills online
    Best and news about drug.

  16. cost cheap propecia without prescription

  17. ClaudeFlina | August 12, 2023 at 11:20 am |

    legitimate canadian online pharmacies canadian pharmacy mall

  18. cost of amoxicillin 875 mg: amoxicillin 825 mg generic amoxicillin over the counter

  19. Everything information about medication.
    amoxicillin for sale amoxicillin 1000 mg capsule – amoxicillin 500 mg brand name
    Read information now.

  20. buying propecia online order propecia pills

  21. amoxicillin buy canada amoxicillin 500mg capsules price – amoxicillin pharmacy price

  22. cost cheap propecia without prescription cheap propecia online

  23. cheap mobic pills

  24. amoxicillin 1000 mg capsule: buy amoxicillin 500mg cost of amoxicillin 30 capsules

  25. AlbertGlync | August 14, 2023 at 12:39 pm |

    indian pharmacy: online shopping pharmacy india – pharmacy website india

  26. mail order pharmacy india: best online pharmacy india – best india pharmacy

  27. purple pharmacy mexico price list

  28. AlbertGlync | August 15, 2023 at 10:43 am |

    best online pharmacy india: buy medicines online in india – reputable indian pharmacies

  29. EdwardLoode | August 15, 2023 at 5:00 pm | global pharmacy canada

  30. indian pharmacies safe: best india pharmacy – mail order pharmacy india

  31. AlbertGlync | August 16, 2023 at 8:26 am |

    canadian pharmacy oxycodone: real canadian pharmacy – canadian pharmacy meds

  32. EdwardLoode | August 16, 2023 at 1:31 pm | best online pharmacies in mexico

  33. pharmacy website india

  34. top 10 online pharmacy in india: indian pharmacy online – online shopping pharmacy india

  35. AlbertGlync | August 17, 2023 at 6:10 am |

    reputable canadian pharmacy: canadian pharmacies comparison – canadian family pharmacy

  36. EdwardLoode | August 17, 2023 at 10:05 am | canadian pharmacy store

  37. best online pharmacies in mexico: medicine in mexico pharmacies – pharmacies in mexico that ship to usa

  38. AlbertGlync | August 18, 2023 at 4:00 am |

    canadian pharmacy no scripts: reputable canadian pharmacy – canadian pharmacy world reviews

  39. canadian pharmacy no scripts

  40. EdwardLoode | August 18, 2023 at 7:00 am | reputable indian online pharmacy

  41. canadian pharmacy online store: canada drug pharmacy – canadian drug stores

  42. AlbertGlync | August 19, 2023 at 1:49 am |

    mexican rx online: buying prescription drugs in mexico – mexican pharmaceuticals online

  43. EdwardLoode | August 19, 2023 at 3:54 am | best canadian online pharmacy

  44. ordering drugs from canada

  45. indian pharmacy: india online pharmacy – indian pharmacy

  46. AlbertGlync | August 19, 2023 at 11:49 pm |

    canadian pharmacy online: canadian pharmacy cheap – canadian drugstore online

  47. over the counter neurontin: order neurontin online – neurontin brand name 800 mg

  48. neurontin price comparison

  49. zithromax cost uk: zithromax for sale 500 mg – how to get zithromax

  50. ivermectin cream uk ivermectin 50 oral ivermectin cost

  51. Jeffreyfardy | August 21, 2023 at 1:31 pm | neurontin 600 mg tablet

  52. ivermectin over the counter canada

  53. ivermectin 250ml: buy liquid ivermectin – ivermectin 4000 mcg

  54. Jeffreyfardy | August 22, 2023 at 11:41 am | neurontin 100mg tablet

  55. order neurontin neurontin oral neurontin for sale

  56. purchase oral ivermectin: ivermectin 3mg tablets – ivermectin 12 mg

  57. neurontin 100mg price

  58. paxlovid for sale: buy paxlovid online – п»їpaxlovid

  59. ed medications online

  60. Over the counter antibiotics pills: antibiotic without presription – buy antibiotics for uti

  61. buy antibiotics online

  62. buy antibiotics from canada: Over the counter antibiotics for infection – buy antibiotics online

  63. lisinopril 40 mg best price

  64. buy generic ciprofloxacin

  65. ciprofloxacin 500mg buy online

  66. lipitor generic online pharmacy

  67. cytotec buy online usa

  68. cytotec buy online usa

  69. cipro 500mg best prices

  70. Aw, this was a very nice post. In idea I would like to put in writing like this additionally ?taking time and actual effort to make a very good article?however what can I say?I procrastinate alot and not at all seem to get something done.

  71. Robertgense | August 30, 2023 at 2:33 am |

    onlinecanadianpharmacy: rate canadian pharmacies – legit canadian pharmacy

  72. canada drugs online reviews: canadian drug pharmacy – northwest pharmacy canada

  73. I抎 should test with you here. Which isn’t something I often do! I take pleasure in studying a submit that can make folks think. Also, thanks for allowing me to comment!

  74. thecanadianpharmacy: canadian pharmacy 24 com – canada discount pharmacy

  75. canadian drugstore online canadian drug pharmacy canada pharmacy

  76. buy on google program to shut down sept. 2 helpless He put heat on the wound to see what would grow

  77. A formidable share, I simply given this onto a colleague who was doing a little bit evaluation on this. And he in reality purchased me breakfast because I discovered it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to debate this, I feel strongly about it and love studying more on this topic. If attainable, as you develop into expertise, would you mind updating your blog with more particulars? It is highly helpful for me. Large thumb up for this blog submit!

  78. I’m typically to running a blog and i really admire your content. The article has really peaks my interest. I’m going to bookmark your site and hold checking for brand spanking new information.

  79. You need to take part in a contest for among the best blogs on the web. I’ll advocate this site!

  80. After I initially commented I clicked the -Notify me when new comments are added- checkbox and now each time a remark is added I get 4 emails with the identical comment. Is there any way you possibly can remove me from that service? Thanks!

  81. This site is really a stroll-by way of for all the info you needed about this and didn抰 know who to ask. Glimpse right here, and you抣l undoubtedly discover it.

  82. I am typically to running a blog and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your web site and maintain checking for new information.

  83. Can I simply say what a aid to find someone who truly knows what theyre talking about on the internet. You positively know how to carry a problem to gentle and make it important. More people need to read this and perceive this aspect of the story. I cant believe youre not more standard because you undoubtedly have the gift.

  84. mexican rx online: buying prescription drugs in mexico online – mexican pharmaceuticals online

  85. buying prescription drugs in mexico online: mexican online pharmacies prescription drugs – reputable mexican pharmacies online

  86. medication from mexico pharmacy – purple pharmacy mexico price list purple pharmacy mexico price list
    mexican pharmaceuticals online

  87. best online pharmacies in mexico – best online pharmacies in mexico mexican border pharmacies shipping to usa
    buying prescription drugs in mexico

  88. mexico pharmacies prescription drugs – medicine in mexico pharmacies buying from online mexican pharmacy
    purple pharmacy mexico price list

  89. buying from online mexican pharmacy – mexico drug stores pharmacies purple pharmacy mexico price list
    buying prescription drugs in mexico

  90. mexican border pharmacies shipping to usa – mexican drugstore online mexican pharmaceuticals online
    mexican online pharmacies prescription drugs

  91. buying prescription drugs in mexico: mexican mail order pharmacies – mexico drug stores pharmacies

  92. ivermectin generic stromectol tablets buy online

  93. purchase ivermectin ivermectin 6 mg tablets

  94. buy liquid ivermectin ivermectin 3mg

  95. ivermectin 3 mg tablet dosage ivermectin 6

  96. buy ivermectin for humans uk stromectol online

  97. stromectol ivermectin tablets ivermectin 6mg dosage

  98. ivermectin generic: stromectol ivermectin buy stromectol 3mg tablets

  99. It抯 onerous to seek out educated individuals on this topic, but you sound like you recognize what you抮e speaking about! Thanks

  100. When I originally commented I clicked the -Notify me when new comments are added- checkbox and now every time a remark is added I get 4 emails with the identical comment. Is there any method you’ll be able to remove me from that service? Thanks!

  101. discount cialis cialis 10 mg cialis and bph

  102. An impressive share, I just given this onto a colleague who was doing a little bit evaluation on this. And he in truth bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to discuss this, I feel strongly about it and love studying extra on this topic. If potential, as you turn into experience, would you mind updating your blog with extra particulars? It’s highly useful for me. Massive thumb up for this blog publish!

  103. sildenafil mexico sildenafil over the counter usa buy viagra online without prescription

  104. I抦 impressed, I have to say. Actually hardly ever do I encounter a blog that抯 each educative and entertaining, and let me tell you, you might have hit the nail on the head. Your concept is outstanding; the problem is something that not enough persons are talking intelligently about. I am very comfortable that I stumbled throughout this in my search for one thing referring to this.

  105. amoxicillin 500 mg for sale purchase amoxicillin online without prescription

  106. generic amoxicillin buy cheap amoxicillin online

  107. amoxicillin discount amoxicillin online without prescription

  108. antibiotic amoxicillin amoxicillin 500mg for sale uk

  109. amoxicillin 500 mg without a prescription buy amoxicillin over the counter uk

  110. amoxicillin 500 mg cost azithromycin amoxicillin

  111. paxlovid pill Paxlovid buy online

  112. microeconomics topics for research paper thesis statement for holocaust research paper

  113. Paxlovid over the counter paxlovid india

  114. buy paxlovid online paxlovid generic

  115. how to get generic clomid no prescription clomid pill

  116. where can i get clomid pill where to get clomid prices

  117. can you get cheap clomid without prescription where buy clomid without insurance

  118. can you buy generic clomid without insurance where can i buy generic clomid now

  119. [url=]diflucan generic brand[/url]

  120. amoxicillin generic brand generic amoxicillin over the counter amoxicillin without rx

  121. get generic clomid now generic clomid where buy generic clomid

  122. Paxlovid over the counter paxlovid buy paxlovid for sale
    Paxlovid buy online

  123. paxlovid india paxlovid price paxlovid
    paxlovid for sale

  124. paxlovid india paxlovid buy paxlovid for sale
    paxlovid covid

  125. where can i buy zithromax uk zithromax 1000 mg pills

  126. order cytotec online Abortion pills online

  127. online canadian pharmacy with prescription – online canadian pharmacy no prescription needed

  128. canadapharmacyonline com – no prescription needed canadian pharmacy

  129. canadian pharmacy world reviews canadian pharmacy review

Leave a comment

Your email address will not be published.