In Arab Bitcoin, we follow the news of encrypted digital currencies, blockchain technology and all applications that are built on this technology.

We get excited when preparing an article or news item that deals with Arab personalities who have achieved success in one of the sectors of the crypto and blockchain market.

This is what we are going to present in this article:

A visual artist from Saudi Arabia with the title “ARC” managed to sell digital art paintings based on non-exchangeable digital currencies (NFT) for a value of 480 thousand dollars.

According to what was reported Source ARC was initially skeptical about how to introduce cryptocurrencies into the art world.

Read:Bitcoin touches $43,000, Ethereum reclaims $3000

He also told the same aforementioned source that he did not know much about blockchain technology and was suspicious of its reputation.

Last year, a representative from KnownOrigin, a digital art market powered by the Ethereum blockchain, contacted Arc on Twitter and invited him to test the platform, and ARC agreed.

A representative of the “KnownOrigin” platform helped him create an artist account and a cryptocurrency wallet, and covered the “gas” fees that Arc paid in order to upload and “mint” his artwork on the blockchain.

Arc stated:

I started posting on KnownOrigin without ever knowing what I was doing and just experimenting.

A few days later, I received a notification that one of the pieces I owned had been sold.

I was really shocked because I wasn’t used to the idea of ​​people buying digital art.

As of March 2021, Arc has sold over 270 NFT tokens with a total value of over $480,000.

Arc added in his statement that this amount depends on the current price of the cryptocurrency Ethereum, which has increased in value since he started selling his artwork.

Read:A Trezor wallet user lost $1 million worth of cryptocurrency this way

“Arc” isn’t the only artist riding the madness of the lucrative NFT market.

Chris Torres, the artist behind Nyan Cat, sold his avatar GIF for $590,000 in late February.

Digital artist Mike Winkelman, also known as “Beeple,” recently sold a file of collages for $69 million after a two-week auction.

Read:Revolut is preparing to launch its own cryptocurrency

The hype around these digital collectibles isn’t limited to the art world:

Independent artists and musicians advocate NFT as a viable model for digital ownership.

Athletes, musicians, gamers, and other fan-led industries are realizing the potential of NFT technology as a growing source of revenue.

Recently, Jack Dorsey, founder and CEO of Twitter, put his first tweet on Twitter up for auction.

The tweet is still up for sale as a non-fungible token NFT.

Offers reached up to $2.5 million in our last update on the Bitcoin Arab website.

Read also:

Twitter CEO puts his first tweet up for sale as “NFT”

Billionaire Mark Cuban invests a sum of money in a platform for non-fungible tokens (NFT)