Takashi Murakami Postpones Sale of NFTs so He Can Better Understand How They Work

The artist pledged to offer NFTs in the future.

By
Arts
11,733 Hypes 9 Comments

Takashi Murakami has decided against selling his newly-minted digital artworks as NFTs, explaining that he wants to take more time to better understand the blockchain technology before moving forward.

NFT‘s, or non-fungible tokens, have recently become popular blockchain assets that crypto enthusiasts around the world are paying top dollar for. HYPEBEAST wrote an in-depth explainer on the topic last month.

Murakami announced last month that he would be launching his first-ever digital artwork through popular NFT marketplace OpenSea. The Japanese contemporary artist, known for his signature flowers, initially put up 108 designs for sale.

 

View this post on Instagram

 

A post shared by Takashi Murakami (@takashipom)

But on Sunday, the artist took to Instagram to announce that he had decided to postpone the sale.

“Initially, I took the challenge on with a spirit of trial first, groping my way forward from the preparation of the NFT artwork to entering into an NFT marketplace,” he wrote. “On the other hand, we have been receiving many a valuable opinion and advice from a number of collectors and experts, which have led me and my team to further discuss and deepen our awareness.”

 

View this post on Instagram

 

A post shared by Takashi Murakami (@takashipom)

Murakami said that in order to provide the best experience to his fans and collectors of his work, he and his team have decided to “further explore the optimal format in which to offer my NFT works,” including considering different digital token standards and whether to build a specialized NFT storefront.

“I would therefore like to withdraw the listing for the time being and tackle NFT again after further internal discussions, better prepared,” he added. “I sincerely apologize to those who have already put in their bids, but I hope you will understand the logic behind this withdrawal, the aim of which is to later allow you to enjoy my NFT works more conveniently and with peace of mind.”

The artist finished his post with optimism, praising the potential of digital art offerings and NFTs. Bids for Murakami’s artwork on OpenSea had reached over $10,000 USD before the sale was postponed.

Many in the art world have embraced NFTs and have begun selling digital works. Last week, Christie’s announced that it would be selling a set of nine rare CryptoPunks, regarded as one of the first NFTs ever created on the Ethereum blockchain.

Read Full Article

What to Read Next

Takashi Murakami Has Just Released His First NFT
Arts

Takashi Murakami Has Just Released His First NFT

108 Nintendo-inspired variations of Murakami’s iconic flowers

NFTs: Here Are Our Top Stories of the Week
Tech 

NFTs: Here Are Our Top Stories of the Week

HYPEBEAST has rounded up the top NFT stories for the week of April 16.

Behind the HYPE: How Takashi Murakami’s 'Flowers' Became a Pop Culture Symbol
Arts 

Behind the HYPE: How Takashi Murakami’s 'Flowers' Became a Pop Culture Symbol

The smiling floral motif synonymous with the Japanese artist also has its darker origins.


Takashi Murakami Brings Floral Motif to PORTER Bags
Fashion

Takashi Murakami Brings Floral Motif to PORTER Bags

Marking the Japanese label’s 85th anniversary.

Nike's Sustainable Space Hippie 01 Lifts Off in "Melon Tint" and "Obsidian" Colorways
Footwear

Nike's Sustainable Space Hippie 01 Lifts Off in "Melon Tint" and "Obsidian" Colorways

Two vibrant new makeups for the sustainable sneaker Nike lovingly describes as “trash.”

Japanese Restaurant PIZZA SLICE Cooks up Minimal Reebok Club C
Footwear

Japanese Restaurant PIZZA SLICE Cooks up Minimal Reebok Club C

The NY-inspired slice slingers serve up a subtle sneaker silhouette.

New Balance 327 Revealed With "Sea Salt/Black" and "Magnet/Team Red" Palettes
Footwear

New Balance 327 Revealed With "Sea Salt/Black" and "Magnet/Team Red" Palettes

The lifestyle silhouette adds more options to its Spring ‘21 catalog.


ASICS Ushers in the New Season with the Release of the Spring-Ready GEL-MC PLUS™
Footwear 

ASICS Ushers in the New Season with the Release of the Spring-Ready GEL-MC PLUS™

Presented by ASICS
A silhouette with a retro aesthetic and a futuristic approach to cushioning.

New Apple Device May Combine Apple TV, HomePod and Camera Into One
Tech

New Apple Device May Combine Apple TV, HomePod and Camera Into One

Bloomberg says the multi-purpose product is still in the early stages of development.

New Balance's Made in England 991 Appears in OG Gray Colorway
Footwear

New Balance's Made in England 991 Appears in OG Gray Colorway

The familiar makeup returns to celebrate the 991’s 20th anniversary.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.