Murakami to wind back from NFTs

Acclaimed Japanese contemporary artist Takashi Murakami says he may not release any more nonfungible tokens (NFTs) moving forward after first jumping into the market in late 2021.

Murakami is a world-renowned artist who has a career spanning back to the late 1980s. He has released two NFT collections to date: the Clone X collection in partnership with RTFKT in December 2021 and the Murakami.Flowers collection in May 2022.

Speaking with The Guardian in a Sept. 20 interview at the Asian Art Museum as part of his new solo art exhibition dubbed Unfamiliar People, Murakami simply stated: “Maybe I’m done releasing NFTs.”

Murakami.Flowers, in particular, proved to be a challenging project for the artist. He delayed its launch to fine-tune it before eventually rolling it out in May 2022 as the crypto and NFT markets crashed.

With floor prices and sales stagnant after the launch, Murakami ultimately apologized to those who bought his NFTs. However, the community seemed to understand at the time, given that broader market factors were at play.

Despite this, Murakami.Flowers has generated 26,713 Ether (ETH) or $42.52 million worth of secondary trading volume to date, with an NFT floor price of 0.36 ETH ($573) according to data

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Author: Brian Quarmby

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