In its most recent drop, crypto art pioneer XCOPY sold nearly $24 million worth of NFTs. The majority of the revenues were generated through open edition mints of the MAX PAIN piece, although the online auction of other NFT series also brought significant sums.
Release of MAX PAIN NFT by XCOPY
XCOPY, a crypto artist based in London, released his MAX PAIN AND FRENS NFT drop through Nifty Gateway on Thursday. The major event of the release was an open edition sale for MAX PAIN NFTs, which was offered with numerous other more limited works. The total amount raised from the drop is roughly $24.4 million, with the open edition sale accounting for almost $23 million of that.
Two concurrent auctions for other exclusive XCOPY works with the titles WASTER and DAMAGER LUXE ran alongside MAX PAIN. They were only available in a limited number of copies and included a ranked auction system.
While MAX PAIN isn’t as precious as other of XCOPY’s rarer works, which may cost millions of dollars, it’s still a good investment. On OpenSea, the floor price of MAX PAIN NFTs is now 1.125 Ethereum, or roughly $3,559. If the prices of past XCOPY crypto art are any indication, these latest NFTs might see much greater valuations in the future.
With artworks minted on Ethereum as early as 2018, XCOPY was among the earliest digital artists to embrace NFTs, and their distinctive glitch-based approach has influenced numerous other artists.