NFT artwork generates 100,000 per cent return in three days
The digital turn does not stop at the art world. The NFT market offers lucrative opportunities not only for artists. Investors can also expect dream returns.
100,000 percent profit in just three days. That is the balance sheet of a trader who bought an NFT artwork last Thursday for the equivalent of 130 US dollars in Ethereum and sold it on Sunday for 130,000 US dollars.
The buyer has previously purchased the NFT from Hashmasks. The Hashmasks collection brings together over 16,000 artworks from around 70 artists worldwide. For their purchase, Bitcoin Billionaire buyers receive NCT tokens on a daily basis. The prices of the artworks are pieced together in several phases. During the first phase, the artwork went under the hammer for 0.1 Ether, the equivalent of 130 US dollars. For the remaining NFTs, however, investors have to dig deeper into their wallets. Between 1.7 and ultimately 100 Ether is the price of the NFT artwork still available.
On Sunday, the NFT artwork was finally resold to „Westcoastbill“ for a total of 97 ETH and thus for around 130,000 US dollars. It is not known who is behind „Westcoastbill“. However, with 30 Hashmasks artworks in his portfolio, he is currently acting as a patron of the NFT market.
Hashmask #1 just sold for ~100 ETH on OpenSea.
That’s $130 into $1,300,000 in 3 days👑.
– ChopChop (@0xChop) January 31, 2021
Although the return on the first NFT artwork in the Hashmask series is unlikely to find an imitator any time soon, the immense increase in value shows the opportunities the market offers for investors and artists alike. With the explosive increase of 100,000 per cent in just three days, media attention and demand among investors for alternative investment opportunities are also likely to increase. This may also have been the impetus for the trade.