"I'm so sorry": Takashi Murakami apologizes to his cryptocurrency investors on Twitter when his NFT price drops |  Artnet news

“I’m so sorry”: Takashi Murakami apologizes to his cryptocurrency investors on Twitter when his NFT price drops | Artnet news – Mail Bonus

Takashi Murakami is one of the few fine artists who managed to get well over the NFT space.

He first got inspired to launch a collection in the spring of 2021, after seeing Christie’s auction of Beeple NFT for $ 69 million in cryptocurrency. The event launched a worldwide NFT mania and the next few months were the best time to launch an NFT collection, for those who jumped at the right time.

Unfortunately, Murakami’s timing was terrible and he completely missed the NFT boom. After spending a year optimizing the project’s technical information, he launched it just before the 2022 cryptocurrency crash.

On June 8, Murakami, who seemed disappointed, sent an apology on Twitter: “Dear holders http: //Murakami.Blóm, I appreciate your continued protection, although the floor prices of the project and the transaction prices remain the same. I really like that. ” he said.

The cheapest Murakami.Flower NFT is now 2 ETH ($ 2,200, at current value) on OpenSea. At the wrong start just over a year ago, he received an offer of up to $ 260,000. That was when he decided to withdraw the project and turn things around a bit more.

Instead of scolding him for the long delay in starting the project, his fans stood by him. One Twitter user wrote: “do not apologize for how the market behaves, not in your power.”

“This is not your art or anything you’ve done. That’s the market. Nothing to regret! Just keep doing it! “Another said.

One fan cheeky wrote: “Please give it another 30 years. I will disappear from this world and the real value of the NFT project will be completely clear. “

Murakami did not respond to a request for comment from Artnet News.

The Japanese artist put pixilated flower NFTs on fans waiting patiently last month. But at that time, the NFT market was cooling down and the cryptocurrency sky was already dark.

In early May was Wall Street Journal reported The NFT market had declined and by the beginning of June, Bitcoin had lost over 60 percent of its value from its November record, dragging down the rest of the cryptocurrency and NFT markets as well.

Murakami’s relaxed pace was a big part of the problem. A few weeks after he first announced his NFT project decreased 108 NFT– from a collection of 11,664 pixel flowers, represented by symbols on the Ethereum blockchain – on OpenSea.

“I feel in the dark, so I’m sure I’ll make many mistakes, but please bear with me,” he said. wrote prophetically on Instagram.

Things looked good. The first “Murakami.Flowers” NFT, called # 0000 Murakami.Flowers immediately raised an offer of 144 ether, or about $ 260,395.

But instead of keeping the track, Murakami got cold feet. Less than two weeks later, the artist withdrew the registration and announced that he would postpone the long-awaited NFT project.

He wanted it understand the technology better. Rather than relying on OpenSea to record his work, he wanted to make his own ingenious contract to maintain the project’s independence in the future.

He also wanted to weave his mind with Web 3.0. “It took me a long time to put this part in mind,” he told Artnet News last month.

The delay cost him at a time when he could not spare it: the NFT project provided a financial opportunity for Murakami, who was to come from a bad year. Covid had been stranded in Japan until 2020. In July of that year, he announced that his company, Kaikai Kiki, was on the verge of bankruptcy. An interesting gallery was postponed along with museum exhibitions. His film, Jellyfish Eyes Part 2: Mahashankhwas canceled.

After an NFT collaboration with RTFKT Murakami finally announced the release of Murakami.Flowers in May 2022.

If he has learned any valuable lesson from this, it could be that all the cryptographic space is Jenga stacks of interconnected time bombs. Entrance is at your own risk.

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