As the latest Bitcoin and cryptocurrency hype cycle has gripped investors and driven a whole new wave of adoption to the space, Duncan and Griffin Cock Foster find themselves at the epicenter. The twin brothers and entrepreneurs have helped spearhead a meteoric trend in the digital asset space with their company Nifty Gateway, a marketplace for digital art and collectibles called NFTs, or non-fungible tokens, which are collectible assets authenticated and secured by blockchain technology.
A few years ago, the idea of collectors purchasing digitally minted art pieces to the tune of thousands and sometimes even millions of dollars would have seemed ludicrous. However, as public comfort and interest in blockchain technology has only continued to rise, cultural influencers—especially musicians—have started to flock to embrace the trend in droves.
On February 28th, Nifty Gateway hosted one of its biggest auctions to date with the release of Grimes’ mythological War Nymph art collection. Immediately prior to the high-profile release, Duncan and Griffin shared they were somewhat surprised by how quickly influential musicians have taken an interest in NFTs, but feel Grimes is a perfect case study for what they can offer someone with talents in both art and music.
Grimes is just one artist from the electronic music world participating in the space already. Dance music artists were early on the scene with 3LAU, Gramatik, renowned visual artist Beeple, and more taking part in recent months. In Griffin’s view, that is no mere coincidence.
“In my opinion, EDM artists are just the perfect fit for NFTs. They’re very tech savy and the demographics are very similar to the kind of people who are buying NFTs,” he said. “They’re well-positioned to understand the technology because their careers are based around technology already. It’s no real surprise they’ve taken to it like fish to water.”
Following Grimes’ recent release, Tyler Winklevoss, CEO of Gemini, Nifty Gateway’s parent company, announced that the songstress had netted over $5.8M in sales in less than 20 minutes.
According to edm.com. Source of photos: internet