Graphic artist Cam Rackam made over $738k from his NFTs After struggling to sell his work in the physical world, the artist ventured into the world of digital art and created the Wall Street Bulls NFT…

By Entrepreneur Staff

This article was translated from our Spanish edition.

StarLineArts | Getty Images

The last few years have not been easy for anyone. The confinement derived from the Covid19 pandemic turned our world upside down and many sectors were seriously affected, including graphic artists who depended on people visiting galleries and art exhibitions to be able to show and sell their work. . Cam Rackam is one of these artists, a 42-year-old man who, in his desperation to generate income, made the decision to try his luck in the world of digital art and create NFT's (non-fungible tokens, that is, cryptographic assets that represent something unique).

In an interview Rackam gave to CNBC , he confessed that he had had some success selling his works in the physical world, including a painting and a sculpture for $11,000. Although Cam had heard success stories of other artists creating NFT's, he was completely oblivious to that world. Once he decided to undertake in the world of digital art, he looked for accounts with which he could collaborate creating unique pieces and came into contact with Wall Street Memes , an Instagram profile with more than 100 thousand followers and dedicated to posting memes, and offered them to create a series of iterations inspired by the famous Wall Street bull. The result? The sale of the collection of 10,000 pieces in just 31 minutes for a value of 660 Ethereums or $1.7 million dollars (Rackam kept more than $738 thousand dollars!).

NFT'S AS AN OPTION TO MAKE A LIVING

Cam Rackham is not alone.

There are many artists who have found a way to spread their work and earn money in the digital market. Although it can be complex to understand, the key and the value of NFTs lies in the digital certificates that allow the authenticity of a work to be proven . The sales of these digital assets are recorded in block chains or blockchains that contain information about the ownership of the piece and the history of prices and transactions linked to them. What characterizes the NFT's is that they are unique, indivisible, transferable and it can also be shown that they are scarce. To create an NFT it is necessary to "mint" it, that is, convert it into a digital asset on the blockchain , which can be done in some NFT Marketplace OpenSea , Nifty Gateway and Rarible .

And while the 660 Ethereums earned by Cam Rackam's work is impressive, it doesn't compare to the more than $69 million raised by Beeple's work, Everydays: The First 5,000 Days , the NFT with the highest value so far.

Graphic artists already know: NFT's offer great possibilities.

DON'T MISS A SINGLE STORY. FOLLOW US ON OUR SOCIAL NETWORKS.

Entrepreneur Staff

Entrepreneur Staff

Editor

Editor's Pick

Related Topics

Business Plans

She Wrote An 'Escape Plan' to Quit Her Job and Move to an Island. Now She's There Generating Nearly $300,000 A Year

"My detailed, step-by-step plan on how I would quit my job and move to a Caribbean island."

Business Plans

How You Can Use the 80/20 Rule to Unlock Success and Maximize Your Impact

Our success is determined by where we focus our efforts.

Thought Leaders

6 Tips From a Clean Beauty Entrepreneur

Sarah Biggers went from a newbie in the natural beauty space to a pro in just a few years. Here are six things she wishes she'd known at the beginning.

Business News

Google Is Mass Deleting Accounts This Week — Here's How To Make Sure Yours Is Safe

The company is reportedly removing inactive accounts on December 1.

Science & Technology

Police Issue Warning About iPhone's 'NameDrop' Feature

How to safely manage the iPhone's latest feature and understand how the technology works.