Last December at Art Basel Miami Beach and Miami Art Week, NFTs took center stage. Among the more notable demonstrations, visitors were able to create their own NFTs as the German artist Mario Klinemann, a.k.a. Quasimondo, generated portraits of people who used the blockchain Tezos to mint tokens of their digital art.

At Art Week, an NFT by Los Angels artist Brendan Murphy called “The Future Has Not Yet Been Written,” sold for $1.1 million. The piece was part of his Boonji Project, a collection of 11,111 unique digital NFTs. All of the project’s Boonji Spaceman avatars feature elements from Brendan’s artwork, according to his website.

Last year, according to the annual Art Basel & UBS Global Art Market Report 2022, “the total sales value of art-related NFTs on the Ethereum, Flow and Ronin blockchains increased over a hundredfold to $2.6 billion.”

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