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Singapore galleries getting into NFTs but traditional art will not lose its value
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NFT started making waves in the art world this year when it was perceived as a new way for artists to sell their work.
PHOTO: REUTERS
SINGAPORE - It was a purr-fect auction for American Chris Torres when his animated flying cat was sold for US$500,000 (S$680,000) in February 2021.
A month later, a collage of 5,000 digital images by American digital artist Beeple was sold for US$69.3 million, setting a record for the most expensive non-fungible token (NFT) ever sold.
