Key Takeaways
- A digital art from the SuperRare NFT project called Some Other A**hole has sold for over $2 million
- The piece first sold for just $105 three years ago and increased over 20,000 fold in price since then
- Three Arrows Capital’s NFT fund Starry Night bought the NFT
YEREVAN (CoinChapter.com) – A nonfungible token called Some Other A**hole by the SuperRare NFT project has sold for over $2 million. Of course, it is not unheard of for a nonfungible token to sell in the millions. We have seen that happen many times. However, this particular one is a head-turner. This is the third time that the art piece by SuperRare artist XCOPY has been sold on the market. According to the NFT tracking website NonFungible, the piece sold for just 0.8 Ethereum (ETH) in 2019, valued at $105 then.
According to the transaction history, the new owner Roses then sold the art to ModeratsArt for a profit of $378 a few months later. ModeratsArt paid 3 ETH for the NFT which has now made them $2 million richer.
StarryNightCapital, Three Arrows Capital’s NFT fund added the piece to his collection for a whopping 550 ETH, or $2.3 million. According to his page, StaryNightCapital has been amassing several NFTs, buying many of them in the past few months. The fund owns over 300 NFTs in his OpenSea account alone. Some Other A**hole is the latest from SuperRare NFT in their collection.
Since the art sold for only $105 just 3 years ago, this is a massive 20,000-fold increase from its initial price. The art piece also marks the most expensive NFT sold in the past 7 days.
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SuperRare NFT platform continues to grow
SuperRare NFT, which hosted the $2 million art has been making a dent in the marketplace. Launched in 2018, the platform raised over $9 million earlier this year. Since then, art from SuperRareDAO has sold almost 27,000 times, more than 20,000 of which are in primary sales. More than 6000 nonfungible artworks by various artists on the platform had takers in the secondary market.
At least five other SuperRare NFTs have fetched over $2 million. Another art by the same artist went for a life-altering $6 million just one month ago. Someone paid 1330 ETH for A Coin for the Ferryman.
With over $191 million in total sales, the average SuperRare NFT price is $7000. Close to 6000 wallets currently hold an NFT from the marketplace. The SuperRareDAO has also floated RARE, an ERC-20 token with 1 billion tokens in circulation. Despite the impressive record in NFT sales, RARE currently trades at $1.42. That is 60% lower than its all-time high of $3.79 two months ago.
