Cryptocurrencies had a great year in 2021. In this period, we have seen the market go from being classified as a billion-dollar economy into a trillion-dollar economy. Aside from that, cryptocurrencies are gaining visibility in the mainstream world with, for example, El Salvador's adoption of Bitcoin as the official digital currency. As a result, investors are looking for the "new Bitcoin" on the market, hoping to find a great alternative in so-called altcoins. Unfortunately, many traders value an altcoin exclusively…
An NFT of iconic contemporary artist Keith Haring will be up for sale between December 1st and 10th, 2021. The NFT sale will debut on Haru Invest, a leading digital asset management firm. Most importantly, it is a digital representation of one of the artist’s most celebrated works.
The unique digital NFT honours the influential presence of Keith Haring’s original artwork “Untitled” (1980). Also, it offers a unique investment opportunity to investors in the crypto sphere.
Keith Haring was a legendary contemporary artist and activist who played a vital role in shaping the American pop art and graffiti culture of the 1980s. Keith’s famous artwork has gained popularity, pushing his artist to rank up 35 spots in the last five years.
What’s more, the iconic artist’s auction volume has more than tripled over the last decade, offering art lovers an average return on investment (ROI) of 208%, per data from Artprice.
The NFT is available for sale in a draw format, with applicants entering a pool upon application. The platform will randomly pick a lucky winner from the pool of potential buyers.
Why Is the Keith Haring NFT Sale Unique?
Unlike most NFTs available in the market today, the digital NFT based on Keith Haring’s original artwork has an intrinsic value. The pop icon’s art rose to prominence during the 1980s as he painted murals all over New York City to bring awareness to health-related issues.
Keith Haring’s paintings on canvas sell at auction for millions of dollars. For example, the highest auction recorded a sale of over $6.5M at Sotheby’s New York in 2017.
Hugo Lee, CEO of Haru Invest, hailed the upcoming NFT sale as a unique investment opportunity for investors in the booming digital collectables space.
I believe that NFTs with intrinsic value will be the real growth drivers of the NFT market in future. Haru Invest aims to create an NFT market with intrinsic value, and Keith Haring NFT will be the start of that,” Lee commented.
The NFT buyer will have to decide whether they will keep the digital NFT or not. Alternatively, they can exchange it for the original physical artwork. Upon exchange for the original physical artwork, the NFT end up burning. The original physical artwork is destroyed if the buyer chooses to keep the NFT.
What the Keith Haring NFT Sale Offers
Keith Haring’s original physical artwork has demonstrated a value increase rate that dwarfs the S&P 500 stock market index over the last two decades.
NFT enthusiasts have a great opportunity to grab the ingenious NTF artwork from Keith Haring’s first individual exhibition. The artwork honors the period when Keith Haring emerged as a star in American pop art back in the 1980s. Above all, this is the art that established him as a legendary contemporary artist and activist.
The “Untitled” NFT features some of the most sought-after original artwork from Keith Haring. Also, it adds highly appraised signatures from legendary pop artists such as high chromatic primary colors and heart icons. Lastly, the NFT also includes the two-eyed smiling face that differs from the more common three-eyed face version.