Two pieces from an NFT collection created by Canadian musician — and NFT creator — Grimes, have come back onto the market. Newborn 1 & 3 from her first NFT drop, “WarNymph Collection Vol. 1.” have been fractionalized by Otis.
Otis is a company that allows users to buy fractionalised shares of a piece of art. This is business model similar to that of US investment app Robinhood. It allows for users who can’t afford to buy a whole NFT the chance to own a small piece instead.
Grimes’ WarNymph Collection Vol. 1 sold for a total of $5.8 million earlier this year. The Newborn series was released in editions of 100, originally selling for $20 each.
The fractions of these NFTs are now selling for less than that original price.
Grimes’ Newborn NFT Collection
Grimes was one of the groundbreaking mainstream artists that helped propel the NFT space. The musician originally put up a series of 10 pieces on Nifty Gateway on February 28. Some where one-of-a-kind, some had multiple editions.
The top-grossing piece sold for $389,000; “Death of the Old” which involves flying cherubs, a cross, a sword, and glowing light set to an original song by Grimes.
Works, titled “Earth” and “Mars,” had the biggest uptake in sales with 700 copies selling at $7,500 each before sales closed. Grimes’s Newborn NFTs were part of the collection, but not the most prized.
Nifty Gateway also confirmed that a percentage of the sales would go to Carbon180, a nonprofit focused on removing carbon from the atmosphere.
The WarNymph collection is made in collaboration with Grimes’s brother Mac Boucher. The musician debuted War Nymph in 2019 and initially used the digital persona to promote her album Miss Anthropocene.
The War Nymph’s appearance has morphed over time, now appearing as a winged baby as in the NFTs. This was shortly before she confirmed her pregnancy with Tesla and SpaceX CEO Elon Musk.
Making Art Accessible
After the NFT boom in February the space is still finding its niche. Long-term use cases fr NFTs, especially in the art world, seem to be driving towards inclusivity. Grimes’s Newborn NFTs being fractionalized seems to hint at allowing ordinary art fans a chance to own an affordable part of it.
NFTs have also become a way for creators to earn through a new revenue stream. In these early days, NFT artists have already become millionaires thanks to the hype around digital art. Beeple’s digital art titled “Everydays: The First 5000 Days” sold for a historic $69.3 Million. Additionally, 18-year old FEWOCiOUS became Christie’s youngest featured artist with an incredible $2.1 Million Sale.