A non-fungible token (NFT) artwork portraying Ethereum founder Vitalik Buterin has recently resold on the secondary market, fetching an impressive sum of nearly $400,000.
Titled “EthBoy,” the painting, crafted by crypto artists Trevor Jones and Alotta Money, portrays Buterin in the guise of a jester.
Originally auctioned on the NFT platform Async Art in 2020, the artwork sold for 260 ETH, equivalent to over $140,000 at the time, with the buyer identified as the pseudonymous MaxStealth. This marked the highest USD value for a single NFT on Async Art at that point.
However, the painting’s journey didn’t end there. A recent resale on OpenSea on the secondary market set a new record for the artwork. According to Etherscan data from November 16, the painting changed hands for 200 ETH, corresponding to $389,800 at the time of the transaction.
This sale signals a potential resurgence in the NFT market for the month. Recent statistics from Nansen and CryptoSlam indicate a doubling in weekly NFT sales volume compared to October, accompanied by an uptick in NFT values. Notably, Ethereum, Polygon, and Cardano are leading this positive trend.
While this current upswing doesn’t match the remarkable 21,000% surge in sales witnessed in 2021, projections for the NFT market remain optimistic. The market size is anticipated to reach $7.16 billion by 2028, reflecting a 73% increase from the $1.89 billion recorded in 2021.