Singer David Bowie’s rare NFT from his collection, ‘Bowie on the Blockchain’ was sold for a fortune on OpenSea. The rare Bowie NFT in collaboration with a 19-year-old NFT artist, FEWOCiOUS, was sold for 96.5 ETH or about $127,000, going by ETH’s market price at the time of the purchase.
The news brings cheer amid the broader crypto market crash and lackluster NFT sales. “Bowie on the Blockchain” is a limited 15-piece collection which celebrates the singer’s legendary pop hits using colorful motifs. The collection emcompasses multiple NFT artists alongside FEWOCiOUS, whose real name is Victor Langlois. Moreover, the NFT sold for $127,000 features an animated video clip with a moving sculpture, which has one of Bowie’s custom suits on.
“I thought it was so cool that he was always what he wanted to be. And created a world that he wanted to live in. That’s really the feeling I try to capture in my art,” said FEWOCiOUS in the collection description.
However, Bowie’s NFT was not the first in the recent bear market to sell for a higher price. Recently, an investor bought a CryptoPunk NFT for 3300 ETH aka about $4.45 million, which counts as one of the largest sales in NFT history. Yet, the broader NFT market has languished in the recent months.
Trading volumes for NFTs have dropped by 97% from its record-high in January 2022, according to a Bloomberg report based on data from Dune Analytics. From a high of $17 billion at the beginning of this year, NFT trading volume nosedived to $466 million in September.
Furthermore, the NFT space also witnessed a discord hack frenzy this year. Crypto Twitter published a long list of NFT Discord hacks in the month of May. According to the list, 70 Discord channels, including those belonging to major projects like BAYC, RTFKT, and Cool Cats, were exploited during the one-month period.