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 NFTs. Source: OpenSea
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 from OpenSea.
NFT artist wins multimillion-dollar contract dispute
NFT artist Danny Casale, also known as Coolman Coffeedan, has won a multimillion-dollar profit-sharing related contract dispute with Web3 art curators DigiArt.
According to a Sept. 22 report from ArtNet, Casale signed on to be repped by DigiArt back in May 2021, with the firm helping him gain exposure in exchange for a 50-50 split of his NFT sales and the exclusive “right to market and offer for sale all non-fungible tokens created by Casale” up until the contract expired on May 2, 2022.
However, DigiArt sued Casale in March 2023 over an alleged breach of contract after the artist launched an NFT project by himself on Dec. 21, 2021, called Coolman’s…