Single Pixel NFTs Are Selling For $800,000

Long Beach(CoinChapter): Artist Unhomed is selling three Single Pixel NFT’s on marketplace OpenSea, for more than $800,000 each. Each of these digital artworks are 1×1 px in three colors; green, blue, and red. The pieces are named Digital Primary G, B, and R respectively.

No offer has been made on any of the pieces yet, but they do each have hundreds of views. This may be due to popular Youtuber Marques Brownlee. The social media star tweeted: “A single red pixel selling as an NFT for $900,000. Hm. Right. Got it.”

Should bids begin to pop up on the pieces it would be right in line with the boom of NFTs this year. The $220 million in sales during the month of February nearly eclipsed the $250 million sold in all of 2020. According to Pitchfork, investors have already spend $90 million into NFT and digital collectibles companies this year. In 2020 NFT startups raised just $35 million.

Just yesterday an NFT of a New York Times column by Kevin Roose sold for more than $560,000. Likewise, Twitter CEO Jack Dorsey sold his first-ever tweet for $2.9 million on Monday.

NFT trend could stretch beyond crypto world

Andrei Brasoveanu, a general partner at Accel, believes this NFT trend is something that could stretch well beyond the crypto world. “It’s one of those developments that has mass-market appeal and could potentially impact a world outside the crypto niche,” he noted.

Digital artist Beeple recently became the third-most valuable living artist due to NFTs. He recently sold a collection of his art for a record $69.3 million at Christie’s auction. He noted that there is “definitely some froth” in the market, but there is a lot of excitement as well.

In an interview with the AP, Beeple said that there are some people who are putting money into things that are “going to be worthless.” He also likened the NFT craze to the internet bubble which ultimately burst, but didn’t stop people from using the internet. Beeple made it clear that “it’s very early days” for the world of NFTs.