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As NFT Crypto Craze Spreads To Domain Names, DigitalArtists.com Sells For $300,000

March 11, 2021 11:06 pm
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As NFT Crypto Craze Spreads To Domain Names, DigitalArtists.com Sells For $300,000

The non-fungible token hype has extended itself to web addresses with DigitalArtists.com selling for a six-figure amount on Thursday, according to Mike Mann, a domain name entrepreneur.

What Happened: Mann revealed on Twitter that the domain was sold by DomainMarket.com for $300,000.

Mann is the founder of DomainMarket.com, as well as a clutch of other companies such as Phone.com, SEO.com, and AccurateAppraisals.com.

Why It Matters:   On the same day, Christie’s sold an NFT-based digital artwork titled “The First 5000 Days”  by the graphic designer Beeple for a whopping $69 million.

Last-minute bids led to the valuation, which has made Beeple among the top-three most “valuable living artists,” as per Christie’s.

See also: What is a Non-Fungible Token (NFT)?

Unstoppable Domains earlier this week announced it had sold "win.crypto" blockchain domain NFT for $100,000, which according to the company is the "most expensive domain name NFT ever recorded."

An artwork by Banksy called “Morons” was also sold as an NFT token for $394,000 this week. The original work was burned by cryptocurrency enthusiasts.

Artists such as Grimes — partner of  Tesla Inc (NASDAQ:TSLA) CEO Elon Musk — and Lindsay Lohan have jumped on the NFT bandwagon and so have others such as Yum! Brands, Inc (NYSE:YUM) subsidiary Taco Bell.

The NFT craze has buoyed Ethereum (CRYPTO: ETH), which is the second-largest cryptocurrency in terms of market capitalization after Bitcoin (CRYPTO: BTC). 

Price Action: ETH traded 1.49% higher at $1,815.59 at press time, while BTC traded 1.7% higher at $56,930.57.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.

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