After a heated bidding war, Salvatore Garau, an Italian artist, shook his sanitized hands over the auction of his sculpture for $18k, which was ‘nothing more than a space full of energy’ Yep, the sculpture sold by Garau exists only within Garau's imagination and not in real life.
But the story of the sculpture doesn’t end here. A couple of days back, a video went viral on a website that helps create non-fungible tokens (NFT) where a mime, known as the legitimate Duke Breitwieser, claimed to have stolen the invisible sculpture and destroyed it. He sold the recording of the act for almost $70.
As selling online becomes easier, the crypto boom has wealthy collectors buying NFTs of popular music, films, and even recordings of damaged invisible art. History repeats itself with a post-pandemic boom where people spend more and take more risks. The sellers who can leverage this boom and adapt quickly capture the largest market share.
In our latest edition of the Compass, let’s look at how you can efficiently sell online.