LiveArt, a Web3-based platform created by three ex-TradArt experts is making a splash with its recent drop, Kingdom of the Laughing Man, representing the inaugural NFT exploration of celebrated contemporary artist Yue Minjun.
The recently revealed PFP style collection features 999 one-of-one generative examples of Minjun’s iconic laughing visage and has already seen over $1 million USD in trading volume.
Based on the near immediate success of the collection, Minjun’s track record, and the combined experience of the LiveArt team, it would seem that the fine art sector of Web3 seems prime for a major shift.
A Paradigm Shift
Beyond the economic aspects of Minjun and LiveArts release, the drop calls to attention a major paradigm shift in both the fine art and Web3 art worlds and could potentially act as a calling card to other acclaimed TradArt artists who are curious about the space.
Furthermore, it also provides a reason for TradArt collectors to take a closer look at Web3 and the blockchain, which undoubtedly represent the future of digital art.
“This drop signifies an exciting shift in the art world as it illustrates how established traditional artists can bring their art to new audiences through the new digital medium, shared Pezner directly with nft now, he added that “It’s also significant for the rapidly evolving Web3 space as it demonstrates the ‘flight to quality’ in the NFT segment, which continues to accelerate despite the market conditions.”
Source: NFT Now