A picture of a hole in a wall sold for $7,000+ as an NFT!
Someone broke a hole in the wall and took a picture of it, they then proceeded to sell it for over $7K on a Crypto Art platform.
This tweet gained a lot of traction in the Crypto Art community as SW is an artist on the platform SuperRare. Sean went ahead and tokenised this piece a couple days later on SuperRare after some interest from collectors in the scene — SuperRare is an NFT platform — read about what an NFT is here!
This picture of a hole in the wall sold less then a week later for 7 ETH valued at over $7,000 now!
He instantly recieved a couple of bids which turned into a bidding war later and I interviewed SW and both collectors who went for the piece today.
People may say why is a hole in the wall worth this much?
Check this thread as Franklin Fitch explains:
Sean William’s POV
1. How did you end up here?
Well, the short answer is that I was born, and I haven’t died yet. But I think the more fitting answer is that I’ve been making art and thinking about art for my entire life. Crypto’s the future of finance, and will probably be the doorway that opens up a lot of technological shifts in the creative space in general, and I think that it’d be really short-sighted to not pay really close attention to the changes happening in the ways artists are able to share their work, find value, reach clients and collectors, and most importantly, find a sense of autonomy.
2. Did you believe how high this would have went and what made you tokenise it?
Yes and no? At first it was truly and honestly just a really fucking dumb accident. I posted it on twitter for a laugh, and to serve as a monument to my own stupidity, but I think once it started taking off and someone bid on the tweet itself, I realized that the language I used in my caption was actually really important (go figure.) People were connecting to the idea of me making “art” out of a shitty situation, and it struck me, because even though I HATE art like this, I could see it made people feel all types of things. By the time I decided to tokenize it, I knew I had something.
3. How has this impacted your life?
I think on a very obvious level, this is the most money that I’ve seen come in from a single piece of work. Short term, I’ll be able to pay my bills on time this month (for the first time in a while since the pandemic started) and that’ll give me some space to breathe. Long term though, and based on some the conversations I’ve been having with people lately, I think all of the energy surrounding what was going on last week did a lot to bring eyes to the work that I truly love to make and really, that’s all I can ask for. Hopefully from here I’m able to continue having my work valued highly, so that I can start doing the work to do the same for other artists sooner rather than later.
“This shit is dumb. Like, so; so dumb. Even more dumb when you consider that now; I have to outperform an accidental, viral hole in the wall. With drawings. I literally cannot allow this to be my highest selling piece. I can’t. But when you really look at it, it’s far cooler than that fucking Banana. Even the story itself is a lot more punk rock when you think about it. One day this’ll be worth more, too.”
Blaize Bitcoin’s POV
1. What made you bid on this piece and do you think its historic?
The NFT space is so young, I feel there’s an infinite amount of room for innovation to combine traditional art, technology and performance into 1 piece. I saw the piece Idiot as an early example of that - a creative way to crystallize a moment of stupidity into definable art. It reminds me of a conversation I had one time with a few friends at a bar about what exactly is art. The loose definition going around was “creative intentional experience”. By that definition, we defined the The Declaration of Independence to actually be art. This brings me to an interesting distinction, art can be creative, skilled, or both. Sean is a highly skilled artist whose work I value a lot. Yet this piece was not about his skill, it was about his creativity. I bid on the piece because I felt like it was an important moment for Sean’s creative mind, as well as the NFTy space as a whole. For historical art context, it reminded me a lot of Marchel Douchamp and his sculpture, “Fountain” which was actually just a urinal. It is one of the most influential pieces in contemporary art.
“The picture is worth so much because artists and collectors value those critical moments where an aha moment happened, and originality ensued. There is also a ton of money in the crypto space, so there is a certain level of, “who cares, I can afford it”, which is overall good for the artists and the marketplace.”
1. What made you bid on this iconic piece?
I like spontaneity in art. An act of genius comes from anywhere and I tend to try and spot those moments in this space when I can. Initial reaction to the piece itself is something I love, in the fact that everyone has some sort of adverse relationship to it. Punching a hole in the wall is a theme that most can relate to. To me it hits at the core of human beings under duress. Every person can look at this and relate themselves into the actual piece. As a controversial CryptoArtist myself, I love conceptual pieces. To be able to ‘reframe’ what art is, is the very thing this piece aims to do and it does it well. So yeah, as a collector of notable CryptoArt pieces I wanted this in my collection.
2. This will be something talked about in CryptoArt history, do you agree?
Depends, there are a lot of pieces with money being thrown at them almost in desperation and trying to forcefully fit it into ‘Crypto-Art History'.’ After the smoke clears it’s the pieces that truly speak to a lot of people that stand the test of time. The price in the long run begins to reflect but definitely not in the beginning upon initial release. Time decides which piece is historic and I respect that process. This could be a contender but it’s hard to gauge. I feel it has a unique flair to conceptuals and It’s obviously fun to ponder, so perhaps — yes.
3. What do you have to say to people who disagree with this pricing and say its worthless?
To the people that say it’s worthless, that is primarily one half of the driver of why I love the piece. The ‘love it or hate it’ type of art pieces I go for the most. Adverse reactions is what makes the art world and discussion go round and round. So to them I say, yes… you’re fucking right it is worthless… to you. To others it could be a revelation and inspiration; that is the part of the art world I love, when a piece can command an entire spectrum of emotional reaction.