Last week at the Malaysian NFT, Malaysians decided to get some of the selfie NFT pies, and i-City revealed that it was putting 10 million ringgit into the Metaverse attraction.
This week will be in the spotlight naturally.
Sell apes to save a larger ecosystem
If there’s one thing that’s certain in the NFT world, apes know it’s hot (… and not).
The Bored Ape Yacht Club (BAYC) has paved the way for more ape-like NFT collections to gain momentum locally.
At a mint event about two weeks ago, local artist Katun recorded sales of RM10 million through a joint NFT project to “bring WWF Malaysia to the Metaverse.”
Known as Apes R Us, it includes the sale of about 8,444 hand-painted apes by Katun. For those unfamiliar with the name, Katun is a street artist who previously sold an NFT called the “Garden of Bloom” for about RM1.6 million.
Buyers around the world can purchase unique ape characters for 0.0888 ETH (RM1,150.08 at the time of writing) each. According to sources we spoke to, Katun was able to sell out all 8,000 pieces in about three days (the team kept 444 pieces for marketing purposes).
This makes Katun’s RM10 million sales one of the highest ever seen in Malaysia’s NFT market.
In addition, Katun and his co-founder of Apes R Us, David, will host an auction to sell NFTs specifically designed for WWF Malaysia. The auction hasn’t been revealed much yet, so I contacted David for more details.
I’m looking for an artist
OpenSea is the world’s largest and most popular NFT marketplace, and Malaysian developers seem eager to match it.
Pentas.io and Artlab.live are two NFT marketplaces launched by the founders of Malaysia. Now another Malaysian-born market is about to go live. Its founder, Zang Tan, aims to get more artists involved for his site, NFTapir (pronounced NF-Tapir).
Zang explained on the phone that NF Tapir aims to bring contemporary artists (such as artists who create art through media such as watercolors) into the digital world.
Through NFTapir, artists can make digital copies of their work on the site and buyers can buy NFTs. The minimum NFT fee is expected to be around US $ 250 or around RM1,050.
This minimum price was chosen to appeal to experienced contemporary artists who do not appreciate the idea of selling their work at a low price of RM20 per person. According to Zang, the latter value is especially common in high volume markets.
In addition, if the buyer is an art collector and needs a physical copy of the artwork, they can be contacted and used by the artist in accordance with the legal conditions Zang is currently working on.
Transactions on the NFTapir are done via the ERC20 token, the cryptocurrency traded on the Ethereum blockchain.
Currently, the site has 6 artworks, and NFTapir plans to have 100 artists in attendance by February 28 in preparation for its launch. Early birds mint with NFTapir are granted access to the platform’s gas-free mint function.
In my opinion, NFTapir targets the market for artists and collectors who actually trade in traditional physical art galleries (high prices, high art ratings).
This bridges the market gap where traditional artists struggle during the blockade and are unable to physically display their work.
Malaysia with a microscope
A new NFT project that stands out to us is called MicroMalaysia.
If you can get any of these features from Malaysia’s Miniature Museum or bespoke Mystery Dial Watch, we love miniature artwork.
The artist behind MicroMalaysia is Firdausi Jais, who uses digital artwork to showcase popular attractions in Malaysia.
His OpenSea profile includes four pieces encapsulating Rawang Bypass, Sekinchan, Bandar Baru Selayang, and Pulau Pangkor, each listed at 0.03 ETH (RM385.31 at the time of writing). Each artwork comes with a historical description of each location.
So far, the artwork hasn’t been traded on OpenSea yet, but it’s exciting to see what Ferdowsi will come up with next. Heritage and culturally relevant places are our bets.
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Featured Image Credits: Apes R Us / NFTapir / MicroMalaysia