NFT artist XCOPY sells out $23M worth of Ethereum NFTs in just 10 minutes

Single-edition grails by XCOPY regularly resell for millions of dollars, and his most recent open edition on Nifty Gateway was in immense demand.
NFT artist XCOPY sells out $23M worth of Ethereum NFTs in just 10 minutes | Coinscreed
The open editions of XCOPY’s Max Pain NFT sold for $23 million.

In summary

  • Artist XCOPY’s open edition NFT release brought in over $23 million in sales.
  • On Nifty Gateway, the Max Pain Ethereum NFT was only available for 10 minutes.

NFTs by the pseudonymous crypto artist XCOPY have been coveted by professional collectors, with some of his limited-edition NFTs fetching millions of dollars in recent months.

And when he produced a more affordable open edition NFT yesterday, it quickly sold out, bringing in over $23 million in sales.

Nifty Gateway launched an open edition sale for XCOPY’s Max Pain NFT, an animated skull-like image with the artist’s signature glitchy, throbby style, on Thursday.

It was only accessible for ten minutes for a cost of $3,108 or roughly one Ethereum at the time.

In the end, 7,394 Ethereum NFTs were sold in that 10-minute period, netting slightly under $23 million.

Soon after, the artist tweeted, “Wow, that was extremely intense.”

Right Click and Save As Guy and All-Time High in the City are two examples of XCOPY’s single-edition, one of a kind pieces.

As the NFT market has grown, the value of those pieces, as well as others, have increased.

Those two pieces, both minted on the SuperRare platform, are on Coinscreed’s list of the most expensive NFTs ever sold, with Right Click and Save As Guy fetching about $7.1 million in ETH in December 2021.

An NFT serves as a deed of ownership for a one of a kind digital property, such as digital artwork, profile images, and collectibles.

XCOPY is one of the most successful artists in the NFT market. A market which had a total trading volume of $25 billion in 2021.

XCOPY doesn’t frequently make open edition releases, which allow an infinite number of buyers to acquire the same version within a limited timeframe.

In fact, the last one for Traitors was precisely one year ago on Nifty Gateway, and the base item Afterburn from that sale went through 870 copies for $999 each in March 2021.

Presently however, those Afterburn NFTs currently start at around $29,400 on Nifty’s secondary marketplace.

Along with the open edition debut of Max Pain on Thursday, Nifty Gateway also held ranked auctions for a limited number of variants, which raised over $1.5 million in addition to the open edition sales.

Holders of prior Traitors NFTs might “burn” (or destroy) them in exchange for other limited-edition XCOPY pieces on the platform.