Malaysian graffiti artist Katun sold NFT for RM1.6 million in 30 minutes

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Despite the pandemic, Abdul Hafiz Abdul Rahman, better known as graffiti artist Katun, works tirelessly on collaborations as well as NFTs, or non-fungible tokens.

A unique, non-exchangeable type of cryptocurrency, an NFT is best described as a one-of-a-kind collectible card. While anything digital can be an NFT, including music, an image, or a recorded sound of you singing, 2021 has seen the sudden boom in digital art NFTs.

Things have calmed down a bit since, but not before Katun sold all 50 pieces of her NFT art, titled Monkeys are strong, for a total value of RM 1.6 million. Another NFT drop, Mystical fruits, tracked and sold over 776 tokens in 24 hours.

Sharing with Options that this was her first project, Katun is also the first artist to feature on the NFT Superfarm platform, which hosted the two drops.

Explaining the work, he says Monkeys are strong speaks of an infinitely unstable world, so it is necessary to regroup and remain united, no matter what battles may arise.

Mystical fruits is to wait for the fruits of our labor to blossom into something spectacular, sweet and rewarding, a mirror of us evolving into something extraordinary, ”Katun continues, adding that 20% of its holders will be chosen at random to receive an evolved version of the job, called Flower garden, later.

While he is thrilled with his success and is already working on another similar project, he admits that navigating the crypto market and its drastic price changes is one of the big challenges for NFTs.

“It took us nine months of planning. Each step had to be planned very strategically. But I believe he’s here to stay. This is something that is still in its infancy. I think NFTs are a great way for artists to exhibit their art to different communities, although physical art will always be there, ”Katun said.

“Plus, the Malaysian NFT community is amazing. They will share all the information with anyone who wants to learn and be a part of it.

This article first appeared on September 13, 2021 in The Edge Malaysia.


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