Artists like Cam Rackam were hard hit by the Covid-19 pandemic. The 42-year-old artist from Huntington Beach, California saw his entire money-making enterprise suffer — art exhibitions got canceled, sales slowedHis commissions were canceled.

Rackam shifted to digital art.

Rackam’s highest-ever sale of art by himself was in 2021 at $11,000. This is for the painting and sculpture piece that he sold back in 2015. Rackam created digital art and that changed quickly. NFTsThe non-fungible tokens are referred to as.

Rackam told CNBC Make It that he had seen the popularity of NFT art collections like the Bored Ape Yacht ClubAnd Beeple’s $69 million NFT project, and decided it could be a fun – and lucrative – space for him to explore, as well.

Rackam told CNBC Make It that he realized that if you were able to view all your clients on blockchain simultaneously, it would be possible for one person to do some really interesting things with the technology. I started to get some wild ideas.”

Rackam was first introduced to digital art when he reached out on Instagram to an Instagram meme site called @wallstmemesThey asked Rackam if they were interested in collaborating on an NFT-themed collection. Rackam was happy to work with them on a Wall Street-themed cartoon bear. Rackam has created thousands of versions of this bull.

Rackam was responsible for the design of the art, and Rackam helped to spread the word via Discord. They sold all 10,000 NFTs within 32 minutes.

Rackam explained that within five minutes about 2,250 had disappeared. But then, I realized we had already reached the halfway point by about minute 8 or 9. It was then that I thought, “Oh my goodness, we are going to sell it out super hard.”

At the time of its sale, it was worth $660 Ethereum. Rackam still took $738,593.97 on that day.

Rackam said that he celebrated the occasion by sipping champagne and blasting music in Huntington Beach.

“I was so freaked that I began screaming. Rackam stated that Rackam was calling people and hollering into his phone. I lit a cigar and opened a champagne bottle in the living room.

His explanation was that it wasn’t a “rager” as the neighbors believed, but that it was just an artist moving to a different medium.

Rackam isn’t the only person who has achieved great success with NFTs. The digital assets are sold hit $17.6 billion at the end of 2021Some critics might be offended by this. concerned about the disruptionThe traditional world of art.

Many market analysts warn, however, that NFT is a booming market. already become oversaturatedCombining massive hype and speculationThis has driven prices up to an unsustainable level.

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