Subscribe To Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Latest News

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022
    Facebook Twitter Pinterest LinkedIn
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Bitcoin
    • NewsWire
      1. Latest News
      2. Top Stories
      3. Features
      4. What’s Hot
      5. Must Read
      6. Trending
      7. Spotlight
      8. Editors’ Picks
      9. View All

      El Salvador’s Companies Barely Bother With Bitcoin

      March 19, 2022

      New Jersey legislation aims to prevent public officials from being gifted NFTs

      March 18, 2022

      Bitcoin Wallet Wasabi to Block Certain Anonymizing Transactions

      March 18, 2022

      Be ready to lose all your money in crypto, EU regulators warn

      March 18, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Crypto’s Preferred Currency for Political Donations Isn’t Bitcoin. It’s Dollars

      March 19, 2022

      Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

      March 18, 2022

      Senator Elizabeth Warren Introduces A Game-Changing Crypto Bill

      March 18, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022

      Bored Ape’s New ApeCoin Puts NFTs’ Power Problem on Display

      March 20, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Russia-Ukraine War Is Bringing Out the Good, Bad, & Ugly of Cryptocurrencies

      March 18, 2022

      The ‘world’s most advanced’ digital human wants you to buy her NFT art

      March 15, 2022

      FTX crypto exchange wins license in Dubai to open regional headquarters

      March 15, 2022

      Crypto Startup Founded by Ex-Meta Employees Raises $200 Million

      March 16, 2022

      U.K. Crime Agency Wants to Regulate Crypto Transaction Mixers

      March 15, 2022

      A Wall Street Quant Turns His Crypto Firm Into a Unicorn

      March 14, 2022

      Standard Chartered’s crypto custodian to help clients earn yield on token holdings

      March 14, 2022

      Man passing as UN affiliate convicted for crypto scheme

      March 18, 2022

      The Future of Crypto Is Boring — and Bright

      March 15, 2022

      Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

      March 15, 2022

      Binance Wins Crypto Licenses From Dubai, Bahrain

      March 15, 2022

      Why Bitcoin’s Environmental Problems Are So Hard to Fix

      March 16, 2022

      Americans Want Crypto From Their Banks

      March 15, 2022

      Why Decentralized Exchanges Are Important in the Crypto Economy

      March 10, 2022

      Binance plots M&A spree as regulators scrutinize crypto trading unit

      March 10, 2022

      Amid New Executive Order, White House Director Sheds Light On Crypto Policy

      March 16, 2022

      Bitcoin Evangelist Saylor Tells Economists Why They’re Wrong

      March 15, 2022

      Crypto Mania in Texas Risks New Costs and Strains on Shaky Grid

      March 15, 2022

      Bitcoin’s scared of commitment, Mr. Biden

      March 15, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022
    • Altcoins
      • Ethereum
      • XRP-Ripple
      • Solana
      • Dogecoin
      • Cardano
      • Shiba Inu
    • Topics
      • Cryptocurrencies
      • Investments
      • Markets
      • NFTs
      • DeFi
      • ETFs
      • DAOs
      • Crypto Regulation
      • Metaverse
      • Blockchain & Web3
      • Blockchain Gaming
      • Crypto Exchanges
      • Crypto Mining
      • Stablecoins
      • Cybersecurity
      • Digital Currencies – CBDC
      • Crypto Book Reviews
      • Technology
      • Internet of Things
    • Opinions
    • Explainers
    • Press Releases

      Former Uber LatAm Head of Policy Leads Crypto Ride-Hailer Drife Toward Planned Global Expansion

      March 7, 2022

      European index provider for crypto assets Vinter raises $3.4m funding

      February 22, 2022

      PR – British crypto processor brings in $60 million for expansion in Europe

      January 25, 2022

      PR – CoinMENA obtains 2nd crypt0 license from European Union

      January 25, 2022

      NFT investment specialist looks to acquire Pluto Digital for £96m

      January 24, 2022
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Home»NFTs»This artist helped create an NFT collection that has seen $166m in sales
    NFTs

    This artist helped create an NFT collection that has seen $166m in sales

    By AMIAH TAYLOR
    January 30, 2022By Fortune Magazine6 Mins ReadNo Comments
    Facebook Twitter LinkedIn Pinterest Reddit WhatsApp Email Tumblr VKontakte Telegram
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email LinkedIn Tumblr Telegram

    Scott Martin has been a successful artist and animator for years, designing packaging, creating commercials, and building a successful freelance career as a digital artist under the alias Burnt Toast.

    But it’s when he started designing and selling his art as NFTs that his career really took off. 

    Donate to RareHippo Now!

    Martin and his two cofounders, Jordan Castro and Evan Keast, launched an art collection called Doodles in October of last year, made up of 10,000 NFTs which sold out in minutes. The Doodles series includes colorful pastel-hued characters with whimsical and joyful expressions. Some are humans, and others are aliens, skeletons, and mascots.

    The subjects of Martin’s artwork often have playful and unique accessories like sunglasses, AirPods, and angelic halos. The collection has since done $166.1 million in sales.  

    One of the NFTs, Doodle #6914, a depiction of a monkey with a golden crown, sold for $1.1 million on Jan. 5 of this year, and is currently valued at 1,500 ETH, the equivalent of $3.6 million. 

    “I went from a quite humble paycheck to quite a ridiculous one,” Martin told Fortune. “I’m still figuring out how to live this life. I don’t even talk to my neighbor, and I was out shoveling my driveway, and he came up to me and said, ‘I saw you sold an NFT for $1.4 million.’ And I was like, ‘Uh, how do you know that?’ The cat is out of the bag.

    Build a following for easier momentum

    Building a loyal audience for your artwork can be the difference between launching a successful NFT collection that sells out in days, or not selling any at all. Martin built up his social media audience for years as the digital artist Burnt Toast before he released his Doodles collection. 

    “The main focus should be on making good art and reaching a large audience,” Martin told Fortune. “Both of these require a lot of hard work and time to achieve. I was lucky enough to have been building an audience around my artwork for nearly a decade.”

    Nft illustration 3 people on a bus.
    “Fresh Air,” by Scott Martin, a.k.a. Burnt Toast

    Learn more about NFTs, and enter the space

    Martin first became aware of NFTs when the digital artist Beeple, a working alias for Mike Winkelmann, sold an NFT for $69.3 million at Christie’s in March of 2021. Martin quickly came to the conclusion that he could also enter the highly profitable NFT space with his own work.

    He continued to educate himself about NFTs and the artists creating them. He says he was lucky enough to meet the artist behind Bored Ape Yacht Club, Seneca, whose work he found “stunning.” 

    “It was so exciting to realize that digitally made content could be sold as verifiably original artwork issued by the artist,” Martin told Fortune. “I knew right away that this was a perfect fit for my work. When your work is made digitally, the only way to sell it before this was to print it as reproduction. This new advancement in tech was very exciting.”

    Create your own digital art

    Martin, like all artists, has his own process.

    “I usually have, like, a half-baked idea sitting in my sketchbook, and it could be for months or even years, and then just some idle Tuesday, a punch line for that drawing will sort of come to mind, and I’ll go and finish the drawing and publish it digitally,” Martin said.

    Martin first imagined his NFTs as tangible wall art that people could proudly display in their home. It was also his goal to have them be “visually digestible and minimal.

    To create animated NFTs, Martin reached out to his network of animation experts for help.

    “With this new type of canvas you have the luxury of adding animation,” Martin told Fortune. “I have a good friend who goes by Alfie Motion who helps me with some of the more demanding animation tasks.” 

    Select an NFT marketplace 

    While there are many platforms available for NFT artists to sell their work, Martin opted for Foundation, a marketplace that he says centers creators and high-quality art. While he isn’t exclusively married to one platform, he says it was his top choice. 

    “Foundation is an invite-only platform,” Martin said. “Meaning that you need to be invited by an artist who is already on the platform. This helps in terms of curation on the site and maintains a higher level of quality as a whole.”

    Mint and sell your artwork

    After the actual artwork is created, selling the NFT is a simple process.

    “I feel like a lot of people do get caught up in the noise and the nerdy terminology that comes with things like blockchain and tokenizing and yada yada, but you really only need a MetaMask account to create a [crypto] wallet,” Martin said. “Then you can create an account on any platform that you can tie your wallet to. And then you just create art and pay gas and minting fees and then confirm the sale.”

    Crypto news & Views

    “Minting” or creating an NFT is how it becomes part of the blockchain. Most NFT marketplaces exist on the Ethereum blockchain. Once NFTs are minted, they can be bought, sold, and traded. NFTs that artists mint are tied directly to their wallet, which means they can hold and manage sales directly. 

    Price your NFTs

    Martin says that pricing his work was a bit of a moving target. 

    On Oct. 17, 2021, when Doodles launched, the group sold each piece for .123 ETH, which is approximately $306. Within the month, pieces were selling  for anywhere from 1.25 ETH to 2.3 ETH on OpenSea, which in today’s market is worth $3,000 to $5,635. All primary sales of Doodles were over in mere minutes, but the current seven-day sales average for Doodles is 11.2 ETH or $27,950 per NFT.    

    NFTs can also appreciate in value, which affects the price of secondary sales.

    “It’s not just me who’s making money out of it,” Martin told Fortune, in regard to the Doodles art collection.

    For example, an NFT investor who goes by @cozywyatt on Twitter bought Doodle #3772 for 8.96 ETH or $21,849 in October 2021, and sold it for 65 ETH or $158,503 on Jan. 13. The same investor bought Doodle #4631 in October 2021 for .91 ETH or $2,219 and sold it for 11 ETH or $26,823 on Jan. 11. 

    Celebrity endorsements don’t hurt…

    As a newcomer to the NFT space, Martin was pleasantly surprised when musician Steve Aoki halted one of his shows on Jan. 12 to show off a Doodle NFT that he had purchased for $859,000.

    “It was pretty exciting,” Martin said. “I want the record to show that we did not ask him to do that, he did of his own volition. But we think it’s amazing, and I feel like that’s a clear sign of NFTs entering the mainstream.”

    Read full story on Fortune Magazine

    NFTs
    Previous ArticleCyber vigilante hunts down DeFi scammers with $25M rug pull – Video
    Next Article Spanish Authorities Raid Illegal Crypto Farm, Seize Equipment Worth $50,000

    Related Posts

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 20224 Mins Read

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 20225 Mins Read

    Wall Street Reluctantly Embraces Crypto

    May 1, 20225 Mins Read

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 20225 Mins Read

    Bored Ape’s New ApeCoin Puts NFTs’ Power Problem on Display

    March 20, 20225 Mins Read

    El Salvador’s Companies Barely Bother With Bitcoin

    March 19, 20222 Mins Read
    Add A Comment

    Leave A Reply Cancel Reply

    Donate to RareHippo Now!
    Latest News

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 2022

    Bored Ape’s New ApeCoin Puts NFTs’ Power Problem on Display

    March 20, 2022
    Follow US & Win Prizes
    • Facebook
    • Twitter
    • LinkedIn
    • Pinterest
    Don't Miss
    Cryptocurrencies

    Crypto influx from China pushes Kazakhstan toward nuclear power

    November 25, 20215 Mins Read

    A surge in cryptocurrency mining is sparking electricity shortages in energy-rich Kazakhstan, driving the country…

    Coal to crypto: The gold rush bringing bitcoin miners to Kentucky

    March 15, 2022

    NFT collector loses $2.7 million in Bored Ape NFTs and derivatives

    February 1, 2022

    Visa launches crypto advisory service for financial institutions, merchants

    December 8, 2021

    Subscribe to Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Crypto news & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Privacy Policy
    • About Us
    • Donate to RareHippo
    • Get In Touch
    • NewsWire
    © 2022 RareHippo. Powered by 8 Dimensions

    The content of this website is for informational purposes only and is not intended as a substitute for investment or financial advice.

    Type above and press Enter to search. Press Esc to cancel.