NFTs in Singapore: hotter than ever
Businesses big and small are pivoting towards non-fungible tokens.
Add BT as a preferred source
THE first significant Singapore exhibition on NFTs is set to take place from Nov 7 to 14 at Fine Art Storage Services at Le Freeport, as NFTs gain more recognition as serious investments.
Major figures in crypto art such as Beeple, Refik Anadol, Tyler Hobbs, Benjamin Gentilli and Sarah Meyohas will have works showcased there - even if many of these names remain foreign to the majority of traditional art collectors. Several works are valued upwards of US$100,000, with the most expensive being one by Andy Warhol (a 1985 video work reminted as an NFT) purchased in 2021 for US$525,000.
Since NFTs became headline news with the US$69 million-purchase of Beeple's digital work, most longtime art collectors have been fascinated by the developments, but stayed away from what they perceive as a nascent, volatile market.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
