McGraw, who created the Boonji Project in partnership with artist Brendan Murphy, could envision pushback by the traditional power structure in the art world to reinstate dominance.
To boost sales, McGraw said she has kept some aspects of the physical art world in order to bridge the gap with the emerging digital art world.
For instance, she cited a sale of 7,444 minted, Boonji Spaceman Avatar, which included 500 limited-edition sculptures and 30 single-edition paintings in a Dutch auction sale that generated $5 million in less than three hours.
“We thought people really wanted the physical art, and what we’re learning is people really want the digital art,” McGraw said. “They would rather have a digital sculpture that they can put in their digital home than a real-life sculpture that they can put in their physical home.”
Read more here.